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United States — Utah Act or statute

United States — Utah legislation

Utah Code § 7-3-35, 1981

A directors’ examination may be replaced by certain examinations or a certified audit if the commissioner approves.

Source excerpt

audit reportsboard minutesexaminations
Jurisdiction
United States — Utah
Status
In force
Official identity
Year 1981
Dates
Enacted 1981
More statute details
Dates
Enacted 1981
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01

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“A directors’ examination may be replaced by certain examinations or a certified audit if the commissioner approves.”

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02

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  1. 01

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    Enacted 1981. The date shown identifies this source expression and should not be treated as proof that no later change exists.

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Subsection 7-3-35(1)

An examination or certified audit may replace the directors' examination if the commissioner approves and the commissioner's rules are followed.

Section 7-3-35(1)

Subsection 7-3-35(2)

If the bank’s directors’ examination is replaced by a department, reserve bank, FDIC, or CPA examination/audit, the board or an examining committee must prepare and file a detailed written report of findings and recommendations with the board minutes.

Section 7-3-35(2)

04

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In force source record

Source record from le.utah.gov · Enacted 1981

In force

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Showing 3 of 3 provisions

Substitution 3
§ 7-3-35Examinations in lieu of directors' examination -- Report filed with board minutes.Substitution

Source excerpt

A directors’ examination may be replaced by certain examinations or a certified audit if the commissioner approves.

Examinations in lieu of directors' examination -- Report filed with board minutes. With the approval of the commissioner, and under rules and regulations prescribed by the commissioner, any examination made during an 18-month period by the department, the applicable federal reserve bank or the Federal Deposit Insurance Corporation, or a certified audit prepared by an independent certified public accountant may be substituted for the directors' examination required under Section 7-3-33 . If an examination by the department, the applicable federal reserve bank, or the Federal Deposit Insurance Corporation or an audit by a certified public accountant, is substituted for the directors' examination, the board of directors of the examined bank, or an examining committee appointed by the board shall prepare and file with the minutes of the board a detailed written report of the findings and recommendations based upon the examination. The report shall be in addition to any other requirements prescribed by the commissioner.
Section 7-3-35Verify source
§ 7-3-35(1)Subsection 7-3-35(1)Substitution

Source excerpt

An examination or certified audit may replace the directors' examination if the commissioner approves and the commissioner's rules are followed.

With the approval of the commissioner, and under rules and regulations prescribed by the commissioner, any examination made during an 18-month period by the department, the applicable federal reserve bank or the Federal Deposit Insurance Corporation, or a certified audit prepared by an independent certified public accountant may be substituted for the directors' examination required under Section 7-3-33 .
Section 7-3-35(1)Verify source
§ 7-3-35(2)Subsection 7-3-35(2)Substitution

Source excerpt

If the bank’s directors’ examination is replaced by a department, reserve bank, FDIC, or CPA examination/audit, the board or an examining committee must prepare and file a detailed written report of findings and recommendations with the board minutes.

If an examination by the department, the applicable federal reserve bank, or the Federal Deposit Insurance Corporation or an audit by a certified public accountant, is substituted for the directors' examination, the board of directors of the examined bank, or an examining committee appointed by the board shall prepare and file with the minutes of the board a detailed written report of the findings and recommendations based upon the examination. The report shall be in addition to any other requirements prescribed by the commissioner.
Section 7-3-35(2)Verify source

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