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United States — Utah Act or statute

United States — Utah legislation

Utah Code § 7-18a-202, 1996

A foreign depository institution must meet specified filing and documentation requirements to get or change authorization for an agency, branch, or representative office in the state.

Source excerpt

agency branch representative office closureauthorizationbranch relocationbusiness authorizationbusiness premisescertificate of authoritydepository institution discontinuancediscontinuancefiling feefinancial servicesforeign depository institutionforeign depository institution authorizationforeign depository institution documentationforeign depository institutionslicensinglicensing/authorizationregulatory displayrelocation
Jurisdiction
United States — Utah
Status
In force
Official identity
Year 1996
Dates
Enacted 1996
More statute details
Dates
Enacted 1996
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01

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“A foreign depository institution must meet specified filing and documentation requirements to get or change authorization for an agency, branch, or representative office in the state.”

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    Enacted 1996. The date shown identifies this source expression and should not be treated as proof that no later change exists.

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Subsection 7-18a-202(1)(d)

A foreign depository institution must irrevocably designate the commissioner as its agent for service of process.

Section 7-18a-202(1)(d)

Subsection 7-18a-202(4)

A foreign depository institution must follow Section 7-1-709 to get authorization to discontinue an agency, branch, or representative office in this state.

Section 7-18a-202(4)

Subsection 7-18a-202(5)(b)

the address at which the agency, branch, or representative office of the foreign depository institution is to be located;

Section 7-18a-202(5)(b)

04

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In force source record

Source record from le.utah.gov · Enacted 1996

In force

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Showing 21 of 21 provisions

Provision 21

Part 7-18a-2

part 7-18a-2 Authorization Required to Conduct Business

§ 7-18a-202Application and fee to establish, relocate, or discontinue a foreign depository institution agency, branch, or representative office -- Certificate of authority.Provision

Source excerpt

A foreign depository institution must meet specified filing and documentation requirements to get or change authorization for an agency, branch, or representative office in the state.

Application and fee to establish, relocate, or discontinue a foreign depository institution agency, branch, or representative office -- Certificate of authority. To obtain a certificate of authority to transact business through an agency, branch, or representative office in this state, a foreign depository institution shall: comply with Section 7-1-708 ; provide a copy and an accurate English translation of the foreign depository institution's articles of incorporation, or equivalent, that evidences authority to transact business as a depository institution; provide satisfactory evidence that the foreign depository institution has complied with the laws of the chartering country authorizing the foreign depository institution to engage in the business of a depository institution; irrevocably designate the commissioner as the foreign depository institution's agent for service of process; provide a written certificate of designation that specifies the name and address of the person to whom the commissioner shall forward any process that has been served; and pay to the department a filing fee as required by Subsection 7-1-401(6) . The written certificate of designation, required in Subsection (1)(e) may be changed from time to time by filing a new certificate of designation. To obtain authorization to relocate an authorized agency, branch, or representative office in this state, a foreign depository institution shall comply with Section 7-1-708 . To obtain authorization to discontinue an agency, branch, or representative office in this state, a foreign depository institution shall comply with Section 7-1-709 . Upon notice of authorization to discontinue an agency, branch, or representative office and the satisfaction of all conditions precedent to discontinuance, the foreign depository institution may close the agency, branch, or representative office and promptly surrender to the commissioner the certificate of authority. If the commissioner authorizes a foreign depository institution to transact business through an agency, branch, or representative office in this state, the commissioner shall issue a certificate of authority that states: fully the name of the foreign depository institution to which the certificate of authority is issued; the address at which the agency, branch, or representative office of the foreign depository institution is to be located; the authority granted to the foreign depository institution; the effective and expiration dates of the certificate of authority; and any other information required by the commissioner. Each foreign depository institution agency, branch, or representative office shall display the certificate of authority issued by the commissioner in a conspicuous place at the place of business specified in the certificate. A certificate of authority is neither transferable nor assignable.
Section 7-18a-202Verify source
§ 7-18a-202(1)Subsection 7-18a-202(1)Provision

Source excerpt

To obtain a certificate of authority to transact business through an agency, branch, or representative office in this state, a foreign depository institution shall: comply with Section 7-1-708 ; provide a copy and an accurate English

To obtain a certificate of authority to transact business through an agency, branch, or representative office in this state, a foreign depository institution shall: comply with Section 7-1-708 ; provide a copy and an accurate English translation of the foreign depository institution's articles of incorporation, or equivalent, that evidences authority to transact business as a depository institution; provide satisfactory evidence that the foreign depository institution has complied with the laws of the chartering country authorizing the foreign depository institution to engage in the business of a depository institution; irrevocably designate the commissioner as the foreign depository institution's agent for service of process; provide a written certificate of designation that specifies the name and address of the person to whom the commissioner shall forward any process that has been served; and pay to the department a filing fee as required by Subsection 7-1-401(6) .
Section 7-18a-202(1)Verify source
§ 7-18a-202(1)(a)Subsection 7-18a-202(1)(a)Provision

Source excerpt

The provision requires compliance with Section 7-1-708.

comply with Section 7-1-708 ;
Section 7-18a-202(1)(a)Verify source
§ 7-18a-202(1)(b)Subsection 7-18a-202(1)(b)Provision

Source excerpt

A required person must provide a copy and accurate English translation of the foreign depository institution’s articles of incorporation, or equivalent, showing authority to do business as a depository institution.

provide a copy and an accurate English translation of the foreign depository institution's articles of incorporation, or equivalent, that evidences authority to transact business as a depository institution;
Section 7-18a-202(1)(b)Verify source
§ 7-18a-202(1)(c)Subsection 7-18a-202(1)(c)Provision

Source excerpt

A foreign depository institution must provide satisfactory evidence of compliance with the laws of its chartering country authorizing it to do depository business.

provide satisfactory evidence that the foreign depository institution has complied with the laws of the chartering country authorizing the foreign depository institution to engage in the business of a depository institution;
Section 7-18a-202(1)(c)Verify source
§ 7-18a-202(1)(d)Subsection 7-18a-202(1)(d)Provision

Source excerpt

A foreign depository institution must irrevocably designate the commissioner as its agent for service of process.

irrevocably designate the commissioner as the foreign depository institution's agent for service of process;
Section 7-18a-202(1)(d)Verify source
§ 7-18a-202(1)(e)Subsection 7-18a-202(1)(e)Provision

Source excerpt

A person designated for service must provide a written certificate naming and addressing the person who will receive process forwarded by the commissioner.

provide a written certificate of designation that specifies the name and address of the person to whom the commissioner shall forward any process that has been served; and
Section 7-18a-202(1)(e)Verify source
§ 7-18a-202(1)(f)Subsection 7-18a-202(1)(f)Provision

Source excerpt

An unnamed actor must pay a filing fee to the department.

pay to the department a filing fee as required by Subsection 7-1-401(6) .
Section 7-18a-202(1)(f)Verify source
§ 7-18a-202(2)Subsection 7-18a-202(2)Provision

Source excerpt

A written certificate of designation required under Subsection (1)(e) may be changed by filing a new certificate of designation.

The written certificate of designation, required in Subsection (1)(e) may be changed from time to time by filing a new certificate of designation.
Section 7-18a-202(2)Verify source
§ 7-18a-202(3)Subsection 7-18a-202(3)Provision

Source excerpt

A foreign depository institution must comply with Section 7-1-708 to get authorization to relocate an authorized agency, branch, or representative office in the state.

To obtain authorization to relocate an authorized agency, branch, or representative office in this state, a foreign depository institution shall comply with Section 7-1-708 .
Section 7-18a-202(3)Verify source
§ 7-18a-202(4)Subsection 7-18a-202(4)Provision

Source excerpt

A foreign depository institution must follow Section 7-1-709 to get authorization to discontinue an agency, branch, or representative office in this state.

To obtain authorization to discontinue an agency, branch, or representative office in this state, a foreign depository institution shall comply with Section 7-1-709 . Upon notice of authorization to discontinue an agency, branch, or representative office and the satisfaction of all conditions precedent to discontinuance, the foreign depository institution may close the agency, branch, or representative office and promptly surrender to the commissioner the certificate of authority.
Section 7-18a-202(4)Verify source
§ 7-18a-202(4)(a)Subsection 7-18a-202(4)(a)Provision

Source excerpt

A foreign depository institution must comply with Section 7-1-709 to get authorization to discontinue an agency, branch, or representative office in this state.

To obtain authorization to discontinue an agency, branch, or representative office in this state, a foreign depository institution shall comply with Section 7-1-709 .
Section 7-18a-202(4)(a)Verify source
§ 7-18a-202(4)(b)Subsection 7-18a-202(4)(b)Provision

Source excerpt

If notice of authorization to discontinue is given and all conditions precedent are satisfied, the foreign depository institution may close the agency, branch, or representative office and promptly surrender the certificate of authority to the commissioner.

Upon notice of authorization to discontinue an agency, branch, or representative office and the satisfaction of all conditions precedent to discontinuance, the foreign depository institution may close the agency, branch, or representative office and promptly surrender to the commissioner the certificate of authority.
Section 7-18a-202(4)(b)Verify source
§ 7-18a-202(5)Subsection 7-18a-202(5)Provision

Source excerpt

If the commissioner authorizes a foreign depository institution to do business here through an agency, branch, or representative office, the commissioner must issue a certificate of authority.

If the commissioner authorizes a foreign depository institution to transact business through an agency, branch, or representative office in this state, the commissioner shall issue a certificate of authority that states: fully the name of the foreign depository institution to which the certificate of authority is issued; the address at which the agency, branch, or representative office of the foreign depository institution is to be located; the authority granted to the foreign depository institution; the effective and expiration dates of the certificate of authority; and any other information required by the commissioner.
Section 7-18a-202(5)Verify source
§ 7-18a-202(5)(a)Subsection 7-18a-202(5)(a)Provision

Source excerpt

fully the name of the foreign depository institution to which the certificate of authority is issued;

fully the name of the foreign depository institution to which the certificate of authority is issued;
Section 7-18a-202(5)(a)Verify source
§ 7-18a-202(5)(b)Subsection 7-18a-202(5)(b)Provision

Source excerpt

the address at which the agency, branch, or representative office of the foreign depository institution is to be located;

the address at which the agency, branch, or representative office of the foreign depository institution is to be located;
Section 7-18a-202(5)(b)Verify source
§ 7-18a-202(5)(c)Subsection 7-18a-202(5)(c)Provision

Source excerpt

This text refers to authority granted to a foreign depository institution.

the authority granted to the foreign depository institution;
Section 7-18a-202(5)(c)Verify source
§ 7-18a-202(5)(d)Subsection 7-18a-202(5)(d)Provision

Source excerpt

the effective and expiration dates of the certificate of authority; and

the effective and expiration dates of the certificate of authority; and
Section 7-18a-202(5)(d)Verify source
§ 7-18a-202(5)(e)Subsection 7-18a-202(5)(e)Provision

Source excerpt

any other information required by the commissioner.

any other information required by the commissioner.
Section 7-18a-202(5)(e)Verify source
§ 7-18a-202(6)Subsection 7-18a-202(6)Provision

Source excerpt

Foreign depository institution agencies, branches, or representative offices must display the commissioner’s certificate of authority in a conspicuous place at the business location named in the certificate.

Each foreign depository institution agency, branch, or representative office shall display the certificate of authority issued by the commissioner in a conspicuous place at the place of business specified in the certificate.
Section 7-18a-202(6)Verify source
§ 7-18a-202(7)Subsection 7-18a-202(7)Provision

Source excerpt

A certificate of authority cannot be transferred or assigned.

A certificate of authority is neither transferable nor assignable.
Section 7-18a-202(7)Verify source

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