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United States — Utah Act or statute

United States — Utah legislation

Utah Code § 7-9-46

An out-of-state credit union may keep a branch in Utah only if legal and licensing conditions are met, and the commissioner may examine and supervise certain out-of-state credit unions.

Source excerpt

banking regulationbranch authorizationbranch establishmentcredit unionsexaminationfinancial regulationregulatory supervisionsupervision
Jurisdiction
United States — Utah
Status
In force
Dates
Legal dates not recorded
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01

Purpose and legislative effect

“An out-of-state credit union may keep a branch in Utah only if legal and licensing conditions are met, and the commissioner may examine and supervise certain out-of-state credit unions.”

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Subsection 7-9-46(2)

An out-of-state credit union may keep a branch in Utah only if it is allowed by applicable law, has the required approvals, and does not serve members solely because they live in Utah.

Section 7-9-46(2)

Subsection 7-9-46(2)(b)

the branch has been authorized by: the department and the chartering authority of the credit union's home state in the case of a state chartered credit union; or the National Credit Union Administration or successor agency in the case of a

Section 7-9-46(2)(b)

Subsection 7-9-46(2)(b)(ii)

Mentions the National Credit Union Administration, or a successor agency, for federally chartered credit unions.

Section 7-9-46(2)(b)(ii)

Subsection 7-9-46(3)

The commissioner may examine and supervise all out-of-state credit unions with a branch in the state, except federal credit unions, in the same manner as the commissioner examines and supervises credit unions in this state.

Section 7-9-46(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 9 of 9 provisions

Provision 9
§ 7-9-46Out-of-state credit unions -- Authorization to do business in state -- Supervision -- Examination.Provision

Source excerpt

An out-of-state credit union may keep a branch in Utah only if legal and licensing conditions are met, and the commissioner may examine and supervise certain out-of-state credit unions.

Out-of-state credit unions -- Authorization to do business in state -- Supervision -- Examination. As used in this section "out-of-state credit union" means any credit union whose home state is not Utah. An out-of-state credit union may maintain a branch in this state only if: maintaining the Utah branch is permissible under applicable law, including Sections 7-1-702 and 7-1-708 in the case of a state chartered credit union; the branch has been authorized by: the department and the chartering authority of the credit union's home state in the case of a state chartered credit union; or the National Credit Union Administration or successor agency in the case of a federally chartered credit union; and the branch will not serve a member of the out-of-state credit union who is a member of the credit union based solely on the member residing in a geographic area located in whole or in part in Utah. The commissioner may examine and supervise all out-of-state credit unions with a branch in the state, except federal credit unions, in the same manner as the commissioner examines and supervises credit unions in this state.
Section 7-9-46Verify source
§ 7-9-46(1)Subsection 7-9-46(1)Provision

Source excerpt

This section defines “out-of-state credit union” as a credit union whose home state is not Utah.

As used in this section "out-of-state credit union" means any credit union whose home state is not Utah.
Section 7-9-46(1)Verify source
§ 7-9-46(2)Subsection 7-9-46(2)Provision

Source excerpt

An out-of-state credit union may keep a branch in Utah only if it is allowed by applicable law, has the required approvals, and does not serve members solely because they live in Utah.

An out-of-state credit union may maintain a branch in this state only if: maintaining the Utah branch is permissible under applicable law, including Sections 7-1-702 and 7-1-708 in the case of a state chartered credit union; the branch has been authorized by: the department and the chartering authority of the credit union's home state in the case of a state chartered credit union; or the National Credit Union Administration or successor agency in the case of a federally chartered credit union; and the branch will not serve a member of the out-of-state credit union who is a member of the credit union based solely on the member residing in a geographic area located in whole or in part in Utah.
Section 7-9-46(2)Verify source
§ 7-9-46(2)(a)Subsection 7-9-46(2)(a)Provision

Source excerpt

Maintaining the Utah branch is permissible under applicable law.

maintaining the Utah branch is permissible under applicable law, including Sections 7-1-702 and 7-1-708 in the case of a state chartered credit union;
Section 7-9-46(2)(a)Verify source
§ 7-9-46(2)(b)Subsection 7-9-46(2)(b)Provision

Source excerpt

the branch has been authorized by: the department and the chartering authority of the credit union's home state in the case of a state chartered credit union; or the National Credit Union Administration or successor agency in the case of a

the branch has been authorized by: the department and the chartering authority of the credit union's home state in the case of a state chartered credit union; or the National Credit Union Administration or successor agency in the case of a federally chartered credit union; and
Section 7-9-46(2)(b)Verify source
§ 7-9-46(2)(b)(i)Subsection 7-9-46(2)(b)(i)Provision

Source excerpt

the department and the chartering authority of the credit union's home state in the case of a state chartered credit union; or

the department and the chartering authority of the credit union's home state in the case of a state chartered credit union; or
Section 7-9-46(2)(b)(i)Verify source
§ 7-9-46(2)(b)(ii)Subsection 7-9-46(2)(b)(ii)Provision

Source excerpt

Mentions the National Credit Union Administration, or a successor agency, for federally chartered credit unions.

the National Credit Union Administration or successor agency in the case of a federally chartered credit union; and
Section 7-9-46(2)(b)(ii)Verify source
§ 7-9-46(2)(c)Subsection 7-9-46(2)(c)Provision

Source excerpt

The branch must not serve a member of an out-of-state credit union when the person is a member only because they live in a geographic area that is partly or wholly in Utah.

the branch will not serve a member of the out-of-state credit union who is a member of the credit union based solely on the member residing in a geographic area located in whole or in part in Utah.
Section 7-9-46(2)(c)Verify source
§ 7-9-46(3)Subsection 7-9-46(3)Provision

Source excerpt

The commissioner may examine and supervise all out-of-state credit unions with a branch in the state, except federal credit unions, in the same manner as the commissioner examines and supervises credit unions in this state.

The commissioner may examine and supervise all out-of-state credit unions with a branch in the state, except federal credit unions, in the same manner as the commissioner examines and supervises credit unions in this state.
Section 7-9-46(3)Verify source

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