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United States — Utah Act or statute

United States — Utah legislation

Utah Code § 7-1-318

Banks and similar institutions must file condition reports with the department, on the commissioner’s form and verification requirements, and some false reporting conduct is a felony or perjury; l…

Source excerpt

bank reportingbank supervisiondepository institutionsfalse statementsfinancial institution compliancefinancial institutions complianceinstitution reportingoaths and affirmationsrecordkeepingregulatory filingsreporting
Jurisdiction
United States — Utah
Status
In force
Dates
Legal dates not recorded
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01

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“Banks and similar institutions must file condition reports with the department, on the commissioner’s form and verification requirements, and some false reporting conduct is a felony or perjury; late reports can trigger a daily penalty.”

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Subsection 7-1-318(2)

The report must be made in the form prescribed by the commissioner and verified by the oath or affirmation of the president or vice president, with attestation by at least two directors.

Section 7-1-318(2)

Subsection 7-1-318(3)(b)

A person must not knowingly subscribe or cause a false entry to be made in the institution’s books or accounts.

Section 7-1-318(3)(b)

Subsection 7-1-318(4)

An institution that misses a required report deadline can be charged $50 per day late. The commissioner may reduce or waive the penalty for good cause.

Section 7-1-318(4)

Subsection 7-1-318(6)

A federally chartered depository institution operating a main office or branch in this state must provide the department a copy of its regular report of condition.

Section 7-1-318(6)

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Source record from le.utah.gov · Legal dates not recorded

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Showing 10 of 10 provisions

Provision 7Offence 3

Part 7-1-3

part 7-1-3 Powers and Duties of Commissioner of Financial Institutions

§ 7-1-318Reports of condition -- Form -- Falsification or failure to file.Offence

Source excerpt

Banks and similar institutions must file condition reports with the department, on the commissioner’s form and verification requirements, and some false reporting conduct is a felony or perjury; late reports can trigger a daily penalty.

Reports of condition -- Form -- Falsification or failure to file. Each institution under the jurisdiction of the department, including each out-of-state depository institution operating a branch in this state, shall provide a report of its condition to the department at least twice a year, as required by the commissioner. The commissioner may require an institution to provide more frequent reports as necessary. The report shall be made according to the form prescribed by the commissioner and shall be verified by the oath or affirmation of the president or a vice president and attested by at least two directors. It is a third degree felony for any officer, director, or employee of a financial institution to do any of the following: knowingly subscribe or cause to be made any false statement or report to the commissioner or department; knowingly subscribe or cause to be made any false entry in the books or accounts of the institution; or knowingly subscribe or exhibit false papers with intent to deceive any person authorized to examine the institution. Each institution that fails or neglects to make a report within 30 days after receiving a call for any report required by this title, by an order of the commissioner, or by any rule of the department is subject to a penalty of $50 a day for each day the report is past due. The commissioner may reduce or waive the penalty for good cause shown. It is criminal perjury for any officer or employee of a financial institution under the jurisdiction of the department to willfully swear falsely in making an oath or affirmation concerning a report of the institution's condition. For information purposes, and without being subject to penalties under state law, a federally chartered depository institution operating a main office or branch in this state shall provide to the department a copy of its regular report of condition filed with its chartering agency.
Section 7-1-318Verify source
§ 7-1-318(1)Subsection 7-1-318(1)Provision

Source excerpt

Covered institutions must report their condition to the department at least twice a year, and the commissioner may require more frequent reports.

Each institution under the jurisdiction of the department, including each out-of-state depository institution operating a branch in this state, shall provide a report of its condition to the department at least twice a year, as required by the commissioner. The commissioner may require an institution to provide more frequent reports as necessary.
Section 7-1-318(1)Verify source
§ 7-1-318(2)Subsection 7-1-318(2)Provision

Source excerpt

The report must be made in the form prescribed by the commissioner and verified by the oath or affirmation of the president or vice president, with attestation by at least two directors.

The report shall be made according to the form prescribed by the commissioner and shall be verified by the oath or affirmation of the president or a vice president and attested by at least two directors.
Section 7-1-318(2)Verify source
§ 7-1-318(3)Subsection 7-1-318(3)Provision

Source excerpt

An officer, director, or employee of a financial institution may not knowingly make or cause false statements, false entries, or false papers in matters involving the institution.

It is a third degree felony for any officer, director, or employee of a financial institution to do any of the following: knowingly subscribe or cause to be made any false statement or report to the commissioner or department; knowingly subscribe or cause to be made any false entry in the books or accounts of the institution; or knowingly subscribe or exhibit false papers with intent to deceive any person authorized to examine the institution.
Section 7-1-318(3)Verify source
§ 7-1-318(3)(a)Subsection 7-1-318(3)(a)Provision

Source excerpt

A person must not knowingly make, or cause to be made, a false statement or report to the commissioner or department.

knowingly subscribe or cause to be made any false statement or report to the commissioner or department;
Section 7-1-318(3)(a)Verify source
§ 7-1-318(3)(b)Subsection 7-1-318(3)(b)Provision

Source excerpt

A person must not knowingly subscribe or cause a false entry to be made in the institution’s books or accounts.

knowingly subscribe or cause to be made any false entry in the books or accounts of the institution; or
Section 7-1-318(3)(b)Verify source
§ 7-1-318(3)(c)Subsection 7-1-318(3)(c)Provision

Source excerpt

It addresses knowingly subscribing or exhibiting false papers to deceive an authorized examiner of the institution.

knowingly subscribe or exhibit false papers with intent to deceive any person authorized to examine the institution.
Section 7-1-318(3)(c)Verify source
§ 7-1-318(4)Subsection 7-1-318(4)Offence

Source excerpt

An institution that misses a required report deadline can be charged $50 per day late. The commissioner may reduce or waive the penalty for good cause.

Each institution that fails or neglects to make a report within 30 days after receiving a call for any report required by this title, by an order of the commissioner, or by any rule of the department is subject to a penalty of $50 a day for each day the report is past due. The commissioner may reduce or waive the penalty for good cause shown.
Section 7-1-318(4)Verify source
§ 7-1-318(5)Subsection 7-1-318(5)Provision

Source excerpt

An officer or employee of a covered financial institution must not willfully make a false oath or affirmation about the institution’s condition report.

It is criminal perjury for any officer or employee of a financial institution under the jurisdiction of the department to willfully swear falsely in making an oath or affirmation concerning a report of the institution's condition.
Section 7-1-318(5)Verify source
§ 7-1-318(6)Subsection 7-1-318(6)Offence

Source excerpt

A federally chartered depository institution operating a main office or branch in this state must provide the department a copy of its regular report of condition.

For information purposes, and without being subject to penalties under state law, a federally chartered depository institution operating a main office or branch in this state shall provide to the department a copy of its regular report of condition filed with its chartering agency.
Section 7-1-318(6)Verify source

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