United States — Utah Act or statute

United States — Utah legislation

Utah Code § 7-1-501

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branch operationsexaminationfederal authorizationinspectionjurisdictionmoney transmissionregulated institutionsregulatory supervisionsupervision

Jurisdiction: United States — Utah
Status: In force
Dates: Legal dates not recorded

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“Institutions and persons subject to jurisdiction of department. As provided in this title and the rules of the department, the persons and institutions described in Subsection (2) are subject to: the jurisdiction of the department; and”

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Institutions and persons subject to jurisdiction of department.

Section 7-1-501

Subsection 7-1-501(2)(b)(i)

federal law; or

Section 7-1-501(2)(b)(i)

Subsection 7-1-501(2)(g)

References an escrow company.

Section 7-1-501(2)(g)

Subsection 7-1-501(2)(h)(iii)

a check casher or deferred deposit lender, as defined in Section 7-23-102 ;

Section 7-1-501(2)(h)(iii)

Subsection 7-1-501(3)

A technology service provider is subject to regulation and examination by the commissioner, to the same extent as if the provider’s service or activity were performed by the depository institution itself.

Section 7-1-501(3)

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

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Showing 30 of 30 provisions

Provision 30

Part 7-1-5

part 7-1-5 Jurisdiction of Department

§ 7-1-501Institutions and persons subject to jurisdiction of department.Provision

Source excerpt

Institutions and persons subject to jurisdiction of department. As provided in this title and the rules of the department, the persons and institutions described in Subsection (2) are subject to: the jurisdiction of the department; and supervision and examination by the department. Subsection (1) applies to: a depository institution chartered under the laws of this state, including any out-of-state branch of the depository institution; a Utah depository institution chartered by the federal government, but only to the extent the application of this title is authorized by: federal law; or the appropriate federal regulatory agency; a Utah branch of an out-of-state depository institution chartered under the laws of another state; a Utah branch of an out-of-state depository institution chartered by the federal government, but only to the extent the application of this title is authorized by: federal law; or the appropriate federal regulatory agency; a service corporation or service organization, including a credit union service organization as defined in Section 7-9-3 ; a trust company; an escrow company; a person or institution engaged in this state in the business of: guaranteeing or insuring deposits, savings accounts, share accounts, or other accounts in depository institutions; operating a loan production office for: a Utah depository institution; an out-of-state depository institution; or a foreign depository institution; a check casher or deferred deposit lender, as defined in Section 7-23-102 ; a title lender, as defined in Section 7-24-102 ; or money transmission, as defined in Section 7-25-102 ; a corporation or other business entity owning or controlling an institution subject to the jurisdiction of the department; subject to Subsection (3) , a technology service provider that provides services to a depository institution subject to the jurisdiction of the department; a subsidiary or affiliate of an institution subject to the jurisdiction of the department; and any person or institution that, with or without authority to do so, transacts business as, or holds itself out as being, a depository institution, trust company, or any other person or institution described in this section as being subject to the jurisdiction of the department. A technology service provider is subject to regulation and examination by the commissioner to the same extent as if the service or activity of the technology service provider were being performed by the depository institution itself.

Section 7-1-501Verify source

§ 7-1-501(1)Subsection 7-1-501(1)Provision

Source excerpt

The persons and institutions named in Subsection (2) are subject to the department’s jurisdiction, supervision, and examination, as provided in this title and the department’s rules.

As provided in this title and the rules of the department, the persons and institutions described in Subsection (2) are subject to: the jurisdiction of the department; and supervision and examination by the department.

Section 7-1-501(1)Verify source

§ 7-1-501(1)(a)Subsection 7-1-501(1)(a)Provision

Source excerpt

the jurisdiction of the department; and

Section 7-1-501(1)(a)Verify source

§ 7-1-501(1)(b)Subsection 7-1-501(1)(b)Provision

Source excerpt

supervision and examination by the department.

Section 7-1-501(1)(b)Verify source

§ 7-1-501(2)Subsection 7-1-501(2)Provision

Source excerpt

Subsection (1) applies to: a depository institution chartered under the laws of this state, including any out-of-state branch of the depository institution; a Utah depository institution chartered by the federal government, but only to the extent the application of this title is authorized by: federal law; or the appropriate federal regulatory agency; a Utah branch of an out-of-state depository institution chartered under the laws of another state; a Utah branch of an out-of-state depository institution chartered by the federal government, but only to the extent the application of this title is authorized by: federal law; or the appropriate federal regulatory agency; a service corporation or service organization, including a credit union service organization as defined in Section 7-9-3 ; a trust company; an escrow company; a person or institution engaged in this state in the business of: guaranteeing or insuring deposits, savings accounts, share accounts, or other accounts in depository institutions; operating a loan production office for: a Utah depository institution; an out-of-state depository institution; or a foreign depository institution; a check casher or deferred deposit lender, as defined in Section 7-23-102 ; a title lender, as defined in Section 7-24-102 ; or money transmission, as defined in Section 7-25-102 ; a corporation or other business entity owning or controlling an institution subject to the jurisdiction of the department; subject to Subsection (3) , a technology service provider that provides services to a depository institution subject to the jurisdiction of the department; a subsidiary or affiliate of an institution subject to the jurisdiction of the department; and any person or institution that, with or without authority to do so, transacts business as, or holds itself out as being, a depository institution, trust company, or any other person or institution described in this section as being subject to the jurisdiction of the department.

Section 7-1-501(2)Verify source

§ 7-1-501(2)(a)Subsection 7-1-501(2)(a)Provision

Source excerpt

This provision identifies a depository institution chartered under state law, including any out-of-state branch of that institution.

a depository institution chartered under the laws of this state, including any out-of-state branch of the depository institution;

Section 7-1-501(2)(a)Verify source

§ 7-1-501(2)(b)Subsection 7-1-501(2)(b)Provision

Source excerpt

This title applies to a Utah depository institution chartered by the federal government only if federal law or the appropriate federal regulatory agency authorizes that application.

a Utah depository institution chartered by the federal government, but only to the extent the application of this title is authorized by: federal law; or the appropriate federal regulatory agency;

Section 7-1-501(2)(b)Verify source

§ 7-1-501(2)(b)(i)Subsection 7-1-501(2)(b)(i)Provision

Source excerpt

federal law; or

Section 7-1-501(2)(b)(i)Verify source

§ 7-1-501(2)(b)(ii)Subsection 7-1-501(2)(b)(ii)Provision

Source excerpt

Refers to the appropriate federal regulatory agency.

the appropriate federal regulatory agency;

Section 7-1-501(2)(b)(ii)Verify source

§ 7-1-501(2)(c)Subsection 7-1-501(2)(c)Provision

Source excerpt

This text identifies a Utah branch of an out-of-state depository institution chartered in another state.

a Utah branch of an out-of-state depository institution chartered under the laws of another state;

Section 7-1-501(2)(c)Verify source

§ 7-1-501(2)(d)Subsection 7-1-501(2)(d)Provision

Source excerpt

This provision refers to a Utah branch of an out-of-state federally chartered depository institution, and limits application of the title to situations authorized by federal law or the appropriate federal regulatory agency.

a Utah branch of an out-of-state depository institution chartered by the federal government, but only to the extent the application of this title is authorized by: federal law; or the appropriate federal regulatory agency;

Section 7-1-501(2)(d)Verify source

§ 7-1-501(2)(d)(i)Subsection 7-1-501(2)(d)(i)Provision

Source excerpt

federal law; or

Section 7-1-501(2)(d)(i)Verify source

§ 7-1-501(2)(d)(ii)Subsection 7-1-501(2)(d)(ii)Provision

Source excerpt

Refers to the appropriate federal regulatory agency.

the appropriate federal regulatory agency;

Section 7-1-501(2)(d)(ii)Verify source

§ 7-1-501(2)(e)Subsection 7-1-501(2)(e)Provision

Source excerpt

a service corporation or service organization, including a credit union service organization as defined in Section 7-9-3 ;

Section 7-1-501(2)(e)Verify source

§ 7-1-501(2)(f)Subsection 7-1-501(2)(f)Provision

Source excerpt

Refers to a trust company.

a trust company;

Section 7-1-501(2)(f)Verify source

§ 7-1-501(2)(g)Subsection 7-1-501(2)(g)Provision

Source excerpt

References an escrow company.

an escrow company;

Section 7-1-501(2)(g)Verify source

§ 7-1-501(2)(h)Subsection 7-1-501(2)(h)Provision

Source excerpt

This provision lists categories of persons or institutions engaged in certain financial or lending businesses in this state.

a person or institution engaged in this state in the business of: guaranteeing or insuring deposits, savings accounts, share accounts, or other accounts in depository institutions; operating a loan production office for: a Utah depository institution; an out-of-state depository institution; or a foreign depository institution; a check casher or deferred deposit lender, as defined in Section 7-23-102 ; a title lender, as defined in Section 7-24-102 ; or money transmission, as defined in Section 7-25-102 ;

Section 7-1-501(2)(h)Verify source

§ 7-1-501(2)(h)(i)Subsection 7-1-501(2)(h)(i)Provision

Source excerpt

guaranteeing or insuring deposits, savings accounts, share accounts, or other accounts in depository institutions;

Section 7-1-501(2)(h)(i)Verify source

§ 7-1-501(2)(h)(ii)Subsection 7-1-501(2)(h)(ii)Provision

Source excerpt

operating a loan production office for: a Utah depository institution; an out-of-state depository institution; or a foreign depository institution;

Section 7-1-501(2)(h)(ii)Verify source

§ 7-1-501(2)(h)(ii)(A)Subsection 7-1-501(2)(h)(ii)(A)Provision

Source excerpt

Refers to a Utah depository institution.

a Utah depository institution;

Section 7-1-501(2)(h)(ii)(A)Verify source

§ 7-1-501(2)(h)(ii)(B)Subsection 7-1-501(2)(h)(ii)(B)Provision

Source excerpt

an out-of-state depository institution; or

Section 7-1-501(2)(h)(ii)(B)Verify source

§ 7-1-501(2)(h)(ii)(C)Subsection 7-1-501(2)(h)(ii)(C)Provision

Source excerpt

This provision refers to a foreign depository institution.

a foreign depository institution;

Section 7-1-501(2)(h)(ii)(C)Verify source

§ 7-1-501(2)(h)(iii)Subsection 7-1-501(2)(h)(iii)Provision

Source excerpt

a check casher or deferred deposit lender, as defined in Section 7-23-102 ;

Section 7-1-501(2)(h)(iii)Verify source

§ 7-1-501(2)(h)(iv)Subsection 7-1-501(2)(h)(iv)Provision

Source excerpt

This text refers to a title lender, as defined in Section 7-24-102.

a title lender, as defined in Section 7-24-102 ; or

Section 7-1-501(2)(h)(iv)Verify source

§ 7-1-501(2)(h)(v)Subsection 7-1-501(2)(h)(v)Provision

Source excerpt

This phrase defines “money transmission” by reference to Section 7-25-102.

money transmission, as defined in Section 7-25-102 ;

Section 7-1-501(2)(h)(v)Verify source

§ 7-1-501(2)(i)Subsection 7-1-501(2)(i)Provision

Source excerpt

A corporation or other business entity that owns or controls an institution subject to the department’s jurisdiction is described here.

a corporation or other business entity owning or controlling an institution subject to the jurisdiction of the department;

Section 7-1-501(2)(i)Verify source

§ 7-1-501(2)(j)Subsection 7-1-501(2)(j)Provision

Source excerpt

This applies, subject to Subsection (3), to a technology service provider that provides services to a depository institution under the department’s jurisdiction.

subject to Subsection (3) , a technology service provider that provides services to a depository institution subject to the jurisdiction of the department;

Section 7-1-501(2)(j)Verify source

§ 7-1-501(2)(k)Subsection 7-1-501(2)(k)Provision

Source excerpt

a subsidiary or affiliate of an institution subject to the jurisdiction of the department; and

Section 7-1-501(2)(k)Verify source

§ 7-1-501(2)(l)Subsection 7-1-501(2)(l)Provision

Source excerpt

This provision describes any person or institution that transacts business as, or holds itself out as, a depository institution, trust company, or another institution subject to the department’s jurisdiction, whether or not it has authority to do so.

any person or institution that, with or without authority to do so, transacts business as, or holds itself out as being, a depository institution, trust company, or any other person or institution described in this section as being subject to the jurisdiction of the department.

Section 7-1-501(2)(l)Verify source

§ 7-1-501(3)Subsection 7-1-501(3)Provision

Source excerpt

A technology service provider is subject to regulation and examination by the commissioner to the same extent as if the service or activity of the technology service provider were being performed by the depository institution itself.

Section 7-1-501(3)Verify source

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Utah Code § 7-1-501

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Locate the controlling provision

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