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United States — Utah Act or statute

United States — Utah legislation

Utah Code § 7-1-323

The commissioner may supervise and regulate certain interstate bank branches and coordinate related examination and regulation with other state or federal agencies.

Source excerpt

bank regulationbranch supervisioncooperative agreementscoordinationfinancial regulationinterstate examinationinterstate operationsprocurementsupervision
Jurisdiction
United States — Utah
Status
In force
Dates
Legal dates not recorded
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01

Purpose and legislative effect

“The commissioner may supervise and regulate certain interstate bank branches and coordinate related examination and regulation with other state or federal agencies.”

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Subsection 7-1-323(1)(c)

Coordinate these activities with any other state or federal agency that shares jurisdiction over the institution.

Section 7-1-323(1)(c)

Subsection 7-1-323(3)(a)

This provision refers to negotiating and entering into cooperative agreements with agencies of another state or the federal government.

Section 7-1-323(3)(a)

Subsection 7-1-323(3)(e)

offering the services of the department's examiners at a reasonable rate of compensation to an agency that shares jurisdiction over the institution;

Section 7-1-323(3)(e)

Subsection 7-1-323(4)

A contract between the department and an agency that shares jurisdiction over a depository institution to provide examiners to aid in interstate examination and regulation is considered a sole source contract under Section 63G-6a-802 .

Section 7-1-323(4)

04

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In force source record

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

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Showing 15 of 15 provisions

Provision 15

Part 7-1-3

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

§ 7-1-323Regulation of interstate operations -- Coordination of efforts.Provision

Source excerpt

The commissioner may supervise and regulate certain interstate bank branches and coordinate related examination and regulation with other state or federal agencies.

Regulation of interstate operations -- Coordination of efforts. The commissioner may: examine, supervise, and regulate a branch operated in this state by a depository institution chartered by another state and take any action or issue any order with regard to that branch; examine, supervise, and regulate a branch operated in another state by a depository institution chartered by this state and take any action or issue any order with regard to that branch; and coordinate these activities with any other state or federal agency that shares jurisdiction over the institution. The commissioner may coordinate the examination, supervision, and regulation of any depository institution chartered by this state with the examination, supervision, and regulation of an affiliated depository institution operating in another state. The commissioner may take any reasonable and lawful action in furtherance of coordinating the regulation of interstate operations, including: negotiating and entering into cooperative agreements with an agency of another state or of the federal government; sharing information and reports in accordance with Section 7-1-802 with an agency that shares jurisdiction over the institution; accepting as sufficient, if appropriate, examination reports and other information compiled or generated by or for an agency that shares jurisdiction over the institution; contracting with an agency that shares jurisdiction over the institution to engage the services of its examiners at a reasonable rate of compensation; offering the services of the department's examiners at a reasonable rate of compensation to an agency that shares jurisdiction over the institution; collecting fees on behalf of, or receiving payment of fees through, an agency that shares jurisdiction over the institution; and cooperating in any other way with other supervisory agencies and professional associations to promote the efficient, safe, and sound operation and regulation of interstate depository institution activities, including the formulation of interstate examination policies and procedures and the drafting of model laws, rules, and agreements. A contract between the department and an agency that shares jurisdiction over a depository institution to provide examiners to aid in interstate examination and regulation is considered a sole source contract under Section 63G-6a-802 .
Section 7-1-323Verify source
§ 7-1-323(1)Subsection 7-1-323(1)Provision

Source excerpt

The commissioner may examine, supervise, regulate, take action on, issue orders about, and coordinate oversight of certain bank branches tied to out-of-state and in-state chartered depository institutions.

The commissioner may: examine, supervise, and regulate a branch operated in this state by a depository institution chartered by another state and take any action or issue any order with regard to that branch; examine, supervise, and regulate a branch operated in another state by a depository institution chartered by this state and take any action or issue any order with regard to that branch; and coordinate these activities with any other state or federal agency that shares jurisdiction over the institution.
Section 7-1-323(1)Verify source
§ 7-1-323(1)(a)Subsection 7-1-323(1)(a)Provision

Source excerpt

An authority may examine, supervise, and regulate a branch in this state operated by an out-of-state chartered depository institution, and may take action or issue orders regarding that branch.

examine, supervise, and regulate a branch operated in this state by a depository institution chartered by another state and take any action or issue any order with regard to that branch;
Section 7-1-323(1)(a)Verify source
§ 7-1-323(1)(b)Subsection 7-1-323(1)(b)Provision

Source excerpt

An unspecified authority may examine, supervise, regulate, and take action or issue orders about an out-of-state branch of a state-chartered depository institution.

examine, supervise, and regulate a branch operated in another state by a depository institution chartered by this state and take any action or issue any order with regard to that branch; and
Section 7-1-323(1)(b)Verify source
§ 7-1-323(1)(c)Subsection 7-1-323(1)(c)Provision

Source excerpt

Coordinate these activities with any other state or federal agency that shares jurisdiction over the institution.

coordinate these activities with any other state or federal agency that shares jurisdiction over the institution.
Section 7-1-323(1)(c)Verify source
§ 7-1-323(2)Subsection 7-1-323(2)Provision

Source excerpt

The commissioner may coordinate examination, supervision, and regulation of a state-chartered depository institution with an affiliated depository institution in another state.

The commissioner may coordinate the examination, supervision, and regulation of any depository institution chartered by this state with the examination, supervision, and regulation of an affiliated depository institution operating in another state.
Section 7-1-323(2)Verify source
§ 7-1-323(3)Subsection 7-1-323(3)Provision

Source excerpt

The commissioner may take reasonable and lawful actions to coordinate regulation of interstate operations.

The commissioner may take any reasonable and lawful action in furtherance of coordinating the regulation of interstate operations, including: negotiating and entering into cooperative agreements with an agency of another state or of the federal government; sharing information and reports in accordance with Section 7-1-802 with an agency that shares jurisdiction over the institution; accepting as sufficient, if appropriate, examination reports and other information compiled or generated by or for an agency that shares jurisdiction over the institution; contracting with an agency that shares jurisdiction over the institution to engage the services of its examiners at a reasonable rate of compensation; offering the services of the department's examiners at a reasonable rate of compensation to an agency that shares jurisdiction over the institution; collecting fees on behalf of, or receiving payment of fees through, an agency that shares jurisdiction over the institution; and cooperating in any other way with other supervisory agencies and professional associations to promote the efficient, safe, and sound operation and regulation of interstate depository institution activities, including the formulation of interstate examination policies and procedures and the drafting of model laws, rules, and agreements.
Section 7-1-323(3)Verify source
§ 7-1-323(3)(a)Subsection 7-1-323(3)(a)Provision

Source excerpt

This provision refers to negotiating and entering into cooperative agreements with agencies of another state or the federal government.

negotiating and entering into cooperative agreements with an agency of another state or of the federal government;
Section 7-1-323(3)(a)Verify source
§ 7-1-323(3)(b)Subsection 7-1-323(3)(b)Provision

Source excerpt

sharing information and reports in accordance with Section 7-1-802 with an agency that shares jurisdiction over the institution;

sharing information and reports in accordance with Section 7-1-802 with an agency that shares jurisdiction over the institution;
Section 7-1-323(3)(b)Verify source
§ 7-1-323(3)(c)Subsection 7-1-323(3)(c)Provision

Source excerpt

accepting as sufficient, if appropriate, examination reports and other information compiled or generated by or for an agency that shares jurisdiction over the institution;

accepting as sufficient, if appropriate, examination reports and other information compiled or generated by or for an agency that shares jurisdiction over the institution;
Section 7-1-323(3)(c)Verify source
§ 7-1-323(3)(d)Subsection 7-1-323(3)(d)Provision

Source excerpt

An agency may contract with another agency that shares jurisdiction over the institution to use its examiners, at a reasonable rate of compensation.

contracting with an agency that shares jurisdiction over the institution to engage the services of its examiners at a reasonable rate of compensation;
Section 7-1-323(3)(d)Verify source
§ 7-1-323(3)(e)Subsection 7-1-323(3)(e)Provision

Source excerpt

offering the services of the department's examiners at a reasonable rate of compensation to an agency that shares jurisdiction over the institution;

offering the services of the department's examiners at a reasonable rate of compensation to an agency that shares jurisdiction over the institution;
Section 7-1-323(3)(e)Verify source
§ 7-1-323(3)(f)Subsection 7-1-323(3)(f)Provision

Source excerpt

collecting fees on behalf of, or receiving payment of fees through, an agency that shares jurisdiction over the institution; and

collecting fees on behalf of, or receiving payment of fees through, an agency that shares jurisdiction over the institution; and
Section 7-1-323(3)(f)Verify source
§ 7-1-323(3)(g)Subsection 7-1-323(3)(g)Provision

Source excerpt

cooperating in any other way with other supervisory agencies and professional associations to promote the efficient, safe, and sound operation and regulation of interstate depository institution activities, including the formulation of

cooperating in any other way with other supervisory agencies and professional associations to promote the efficient, safe, and sound operation and regulation of interstate depository institution activities, including the formulation of interstate examination policies and procedures and the drafting of model laws, rules, and agreements.
Section 7-1-323(3)(g)Verify source
§ 7-1-323(4)Subsection 7-1-323(4)Provision

Source excerpt

A contract between the department and an agency that shares jurisdiction over a depository institution to provide examiners to aid in interstate examination and regulation is considered a sole source contract under Section 63G-6a-802 .

A contract between the department and an agency that shares jurisdiction over a depository institution to provide examiners to aid in interstate examination and regulation is considered a sole source contract under Section 63G-6a-802 .
Section 7-1-323(4)Verify source

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