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United States — Utah Act or statute

United States — Utah legislation

Utah Code § 7-1-510

If the commissioner finds it is in the public interest and needed to protect depositors and other customers, the commissioner may examine a financial institution holding company, require reports, issue rules, and require…

Source excerpt

financial institution supervisionregulatory examinationrulemaking
Jurisdiction
United States — Utah
Status
In force
Dates
Legal dates not recorded
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01

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“If the commissioner finds it is in the public interest and needed to protect depositors and other customers, the commissioner may examine a financial institution holding company, require reports, issue rules, and require the company to take necessary actions.”

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02

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Subsection 7-1-510(1)

The commissioner may examine the books and records of a financial institution holding company and require reports needed to properly supervise its financial institution subsidiaries.

Section 7-1-510(1)

Subsection 7-1-510(2)

An office-holder must adopt and issue rules consistent with this title for financial institution holding companies.

Section 7-1-510(2)

Subsection 7-1-510(3)

A financial institution holding company may be required to take action the commissioner considers reasonable and necessary to protect depositors, other customers, and creditors of a subsidiary financial institution, or to maintain solvency or prevent failure.

Section 7-1-510(3)

04

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In force source record

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

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Showing 4 of 4 provisions

Provision 4

Part 7-1-5

part 7-1-5 Jurisdiction of Department

§ 7-1-510Examination of institutions -- Adoption of rules -- Requiring actions by institutions.Provision

Source excerpt

If the commissioner finds it is in the public interest and needed to protect depositors and other customers, the commissioner may examine a financial institution holding company, require reports, issue rules, and require the company to take necessary actions.

Examination of institutions -- Adoption of rules -- Requiring actions by institutions. If the commissioner finds that it is in the public interest and necessary to protect the depositors and other customers of a financial institution, the commissioner may: examine the books and records of any financial institution holding company and require the company to furnish whatever reports that the commissioner considers appropriate to properly supervise the company's financial institution subsidiaries; adopt and issue rules consistent with the purposes and provisions of this title as they pertain to financial institution holding companies; and require a financial institution holding company to take any action the commissioner finds reasonable and necessary to protect the interests of depositors, other customers, and creditors of any subsidiary financial institution, to maintain its solvency or to prevent its failure.
Section 7-1-510Verify source
§ 7-1-510(1)Subsection 7-1-510(1)Provision

Source excerpt

The commissioner may examine the books and records of a financial institution holding company and require reports needed to properly supervise its financial institution subsidiaries.

examine the books and records of any financial institution holding company and require the company to furnish whatever reports that the commissioner considers appropriate to properly supervise the company's financial institution subsidiaries;
Section 7-1-510(1)Verify source
§ 7-1-510(2)Subsection 7-1-510(2)Provision

Source excerpt

An office-holder must adopt and issue rules consistent with this title for financial institution holding companies.

adopt and issue rules consistent with the purposes and provisions of this title as they pertain to financial institution holding companies; and
Section 7-1-510(2)Verify source
§ 7-1-510(3)Subsection 7-1-510(3)Provision

Source excerpt

A financial institution holding company may be required to take action the commissioner considers reasonable and necessary to protect depositors, other customers, and creditors of a subsidiary financial institution, or to maintain solvency or prevent failure.

require a financial institution holding company to take any action the commissioner finds reasonable and necessary to protect the interests of depositors, other customers, and creditors of any subsidiary financial institution, to maintain its solvency or to prevent its failure.
Section 7-1-510(3)Verify source

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