reglab/statecodes huggingface dataset:
2023 Utah Code › Title 6 - Assignment for Benefit of Creditors › Chapter 1 - General Provisions Relating to Assignment for Benefit of Creditors › Section 3 - Assignment to be written -- Contents -- Recording.

6-1-3.
Assignment to be written -- Contents -- Recording.
Every such assignment shall be by an instrument in writing, setting forth the name of the assignor, his residence and business, the name of the assignee and his residence and business, and in a general way describing the property assigned with its location, and stating the purpose of the assignment. It shall be executed and acknowledged in the manner prescribed for the execution and acknowledgment of deeds, and recorded in the office of the recorder of the county where the property assigned is located. The assignor shall annex to such instrument an inventory, under oath, of his estate, real and personal, according to the best of his knowledge, and a list of his creditors and the amount of their respective demands; but such inventory is not conclusive as to the amount of the debtor's estate, and such assignment shall vest in the assignee the title to any other property belonging to the debtor at the time of making the assignment, except property exempt from execution and insurance upon the life of the assignor, unless the instrument mentions such exempt property and insurance and declares an intention of the assignor that they shall pass thereby. As soon as such instrument is recorded it shall be filed, with the inventory and list of creditors, in the office of the clerk of the district court of the county in which the property so assigned is located; as shall all subsequent papers connected with such proceedings.
Amended by Chapter 378, 2010 General Session
2023 Utah Code › Title 6 - Assignment for Benefit of Creditors › Chapter 1 - General Provisions Relating to Assignment for Benefit of Creditors › Section 4 - Inventory -- Bond.

6-1-4.
Inventory -- Bond.
The assignee shall forthwith file with the clerk of the district court of the county where the property assigned is located a true and full inventory and valuation of said estate, under oath, so far as the same has come to his knowledge, and shall then enter into bonds to the state for the use of the creditors in double the amount of the inventory and valuation, with one or more sureties to be approved by said clerk, for the faithful performance of said trust; and the assignee may thereupon proceed to perform any duty necessary to carry into effect the purpose of said assignment.
No Change Since 1953
2023 Utah Code › Title 6 - Assignment for Benefit of Creditors › Chapter 1 - General Provisions Relating to Assignment for Benefit of Creditors › Section 5 - Notice of assignment.

6-1-5.
Notice of assignment.
The assignee shall forthwith give notice of such assignment:
(1)
(a) by publication once a week for six weeks:
(i) in a newspaper published in the county; or
(ii) if there is not a newspaper as described in Subsection (1)(a)(i), in a newspaper of general circulation in the county; and
(b) by publication as required in Section 45-1-101 for six weeks; and
(2) by mail to each creditor of whom he shall be informed, directed to his usual place of residence, requiring such creditor to present to him within three months thereafter his claims under oath.
Amended by Chapter 388, 2009 General Session
2023 Utah Code › Title 6 - Assignment for Benefit of Creditors › Chapter 1 - General Provisions Relating to Assignment for Benefit of Creditors › Section 6 - Claims to be filed.

6-1-6.
Claims to be filed.
The claims of all creditors, clearly and distinctly stated and sworn to by the claimant, or by some person acquainted with the facts, shall be filed with the assignee within three months of the date of the first publication provided for in the preceding section, unless the court extends such time for all or some of such claimants, which it may do in its discretion where peculiar circumstances seem to justify such extension, but in no case shall such extension be extended beyond nine months.
No Change Since 1953
2023 Utah Code › Title 6 - Assignment for Benefit of Creditors › Chapter 1 - General Provisions Relating to Assignment for Benefit of Creditors › Section 7 - Assignee to make report.

6-1-7.
Assignee to make report.
At the expiration of three months from the time of first publishing notice the assignee shall report and file with the clerk of the court a true and full list, under oath, of all such creditors of the assignor as shall have claimed to be such, with a statement of their claims, an affidavit of publication of notice, and a list of the creditors with their places of residence to whom notice has been sent by mail, and the date of mailing the same.
No Change Since 1953
2023 Utah Code › Title 6 - Assignment for Benefit of Creditors › Chapter 1 - General Provisions Relating to Assignment for Benefit of Creditors › Section 8 - Objections to claims -- Hearing.

6-1-8.
Objections to claims -- Hearing.
Any person interested may appear within one month after such report is filed and contest the claim or demand of any creditor by written exceptions thereto filed with the clerk, who shall forthwith cause notice thereof to be given to the creditor, which shall be served as in case of a summons and returnable at a time to be named therein, not less than 10 nor more than 40 days; at which time the court shall proceed to hear the proofs and allegations of the parties in the matter and render such judgment thereon as shall be just.
No Change Since 1953
2023 Utah Code › Title 6 - Assignment for Benefit of Creditors › Chapter 1 - General Provisions Relating to Assignment for Benefit of Creditors › Section 9 - Taxes to be paid.

6-1-9.
Taxes to be paid.
In all assignments of property for the benefit of creditors, assessments and taxes levied thereon either under the laws of the state or ordinances of municipal corporations shall be entitled to priority, and paid in full by the assignee, and claims therefor need not be filed with him.
Amended by Chapter 378, 2010 General Session
2023 Utah Code › Title 6 - Assignment for Benefit of Creditors › Chapter 1 - General Provisions Relating to Assignment for Benefit of Creditors › Section 10 - Dividends to creditors.

6-1-10.
Dividends to creditors.
If no exception is made and filed to the claim of any creditor, or if the same has been adjudicated, the court shall order the assignee to make from time to time fair and equal dividends among the creditors of the assets in his hands in proportion to their claims and according to the preferences or classes, if any, named in the assignment, and as soon as may be to render a final account of his trust to the court. If upon making the final dividend to creditors the assignee shall be unable after reasonable efforts to ascertain the place of residence of any creditor or the person who is authorized to receive the dividend due any creditor, he shall report the same to the court, with evidence showing diligent attempts to find such creditor or person authorized to receive the dividend; whereupon the court may in its discretion order the distribution of the unclaimed dividend among the other creditors.
No Change Since 1953
2023 Utah Code › Title 6 - Assignment for Benefit of Creditors › Chapter 1 - General Provisions Relating to Assignment for Benefit of Creditors › Section 11 - Court to supervise administration.

6-1-11.
Court to supervise administration.
The assignee shall at all times be subject to the order and supervision of the court or judge and from time to time may be compelled, by citation or attachment, to file reports of his proceedings and of the situation and condition of the trust, and to proceed in the execution of the duties required by this title.
No Change Since 1953
2023 Utah Code › Title 6 - Assignment for Benefit of Creditors › Chapter 1 - General Provisions Relating to Assignment for Benefit of Creditors › Section 12 - Time for disposing of property.

6-1-12.
Time for disposing of property.
The assignee shall dispose of all personal property and divide the proceeds of the same among the creditors as they may be entitled thereto within six months from the date of the assignment, unless further time is given for good cause by the court, and shall dispose of real estate within one year from such date, and make full settlement by that time, unless the court or judge, for good reason shown, shall extend the time therefor.
No Change Since 1953
2023 Utah Code › Title 6 - Assignment for Benefit of Creditors › Chapter 1 - General Provisions Relating to Assignment for Benefit of Creditors › Section 13 - Failure to file inventory -- Examination of debtor.

6-1-13.
Failure to file inventory -- Examination of debtor.
No assignment shall be declared fraudulent or void for want of any list or inventory as provided in this title. The court or judge may, upon application of the assignee or any creditor, compel the appearance in person of the debtor before such court or judge, forthwith or at the next term, to answer under oath such matters as may be inquired of him, and such debtor may be fully examined under oath as to the amount and situation of his estate, and the names of the creditors and amounts due to each with their places of residence, and may be compelled to deliver to the assignee any property or estate embraced in the assignment.
No Change Since 1953
2023 Utah Code › Title 6 - Assignment for Benefit of Creditors › Chapter 1 - General Provisions Relating to Assignment for Benefit of Creditors › Section 14 - Subsequent inventory -- Additional bond.

6-1-14.
Subsequent inventory -- Additional bond.
The assignee shall from time to time file with the clerk of the court an inventory and valuation of any additional property which may come into his hands under the assignment after the filing of the first inventory, and the clerk or the judge of the court may thereupon require him to give additional security.
No Change Since 1953
2023 Utah Code › Title 6 - Assignment for Benefit of Creditors › Chapter 1 - General Provisions Relating to Assignment for Benefit of Creditors › Section 15 - Debts not matured -- Delay in filing claims.

6-1-15.
Debts not matured -- Delay in filing claims.
Any creditor may claim debts to become due as well as debts due, but on debts not due a reasonable rebate shall be made when the same are not drawing interest. Creditors who do not file their claims within three months from the publication of notice as aforesaid may not participate in dividends until after payment in full of all claims presented within said time and allowed by the court, unless the court has extended the time for filing such claims.
Amended by Chapter 378, 2010 General Session
2023 Utah Code › Title 6 - Assignment for Benefit of Creditors › Chapter 1 - General Provisions Relating to Assignment for Benefit of Creditors › Section 16 - Sales -- Confirmation.

6-1-16.
Sales -- Confirmation.
The assignee may dispose of and sell all the estate assigned, real and personal, which the debtor had at the time of the assignment, may sue for and recover in his own name everything belonging or appertaining to said estate, and generally do whatever the debtor might have done in the premises; but no sale of real estate belonging to said trust shall be made without notice published as in case of sales of real estate on execution, unless the court or judge shall otherwise order, and no such sales shall be valid until approved by the court or judge.
No Change Since 1953
2023 Utah Code › Title 6 - Assignment for Benefit of Creditors › Chapter 1 - General Provisions Relating to Assignment for Benefit of Creditors › Section 17 - Removal of assignee.

6-1-17.
Removal of assignee.
Upon a written application of a majority of the creditors in amount the court shall remove the assignee and appoint in his stead a person approved by the creditors in the same number and amount, and the person so removed shall immediately turn over to the clerk of the court, or any person appointed by the court, all money and property of the estate in his hands.
No Change Since 1953
2023 Utah Code › Title 6 - Assignment for Benefit of Creditors › Chapter 1 - General Provisions Relating to Assignment for Benefit of Creditors › Section 18 - Death or neglect of assignee.

6-1-18.
Death or neglect of assignee.
If an assignee dies before the closing of his trust, or shall fail or neglect for the period of 20 days after making of any assignment to file an inventory and valuation and give bond as required in this title, the district court or any judge thereof of the county where such assignment may be recorded, on the application of any person interested, shall appoint some person to execute the trust, who shall on giving bond have all the powers of the assignee first appointed and be subject to all the duties hereby imposed. If it is shown to the court at any time that an assignee is guilty of wasting or misapplying the trust fund, he may be removed, and a successor appointed in the same manner.
No Change Since 1953
2023 Utah Code › Title 6 - Assignment for Benefit of Creditors › Chapter 1 - General Provisions Relating to Assignment for Benefit of Creditors › Section 19 - Compensation of assignee.

6-1-19.
Compensation of assignee.
In the absence of any provision in the assignment to the contrary an assignee for the benefit of creditors is entitled to the same commissions as are allowed by law to executors and administrators as compensation in full for all services.
No Change Since 1953
2023 Utah Code › Title 6 - Assignment for Benefit of Creditors › Chapter 1 - General Provisions Relating to Assignment for Benefit of Creditors › Section 20 - Right to prefer creditor.

6-1-20.
Right to prefer creditor.
Nothing in this title contained shall affect the power of a person, although insolvent, residing either within or without this state, to transfer property in this state in good faith to a particular creditor for the purpose of paying or securing the whole or a part of a debt owing to such creditor; provided, that joint, or joint and several, debtors can prefer their joint creditors only out of joint property, and can prefer the individual creditors of each only out of the separate property of each.
No Change Since 1953
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 1 - Citation, Purposes, Definitions, and Application › Section 102 - Legislative findings, purpose, and intent.

7-1-102.
Legislative findings, purpose, and intent.
(1) The Legislature finds it is in the interest of the citizens of this state, and is the purpose of this title, to:
(a) supervise, regulate, and examine persons, firms, corporations, associations, and other business entities furnishing depository, lending, and associated financial services in this state;
(b) protect the interests of shareholders, members, depositors, and other customers of financial institutions operating in this state;
(c) preserve the competitive equality of state chartered institutions as compared to federally chartered institutions, and of Utah depository institutions as compared to out-of-state and foreign depository institutions;
(d) promote the availability, efficiency, and profitability of financial services in the communities of this state;
(e) preserve the advantages of the dual banking system;
(f) cooperate with federal regulators and regulators from other states in regulating financial institutions, in improving the quality of regulation, and in promoting the interests of this state in interstate matters; and
(g) provide to the Commissioner of Financial Institutions sufficient powers and responsibilities to carry out these purposes.
(2) It is the intent of the Legislature that the provisions of this title be interpreted to promote these purposes.
Repealed and Re-enacted by Chapter 49, 1995 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 1 - Citation, Purposes, Definitions, and Application › Section 103.5 - Control.

Effective 5/4/2022
7-1-103.5.
Control.
(1) There is a rebuttable presumption that a person has control of a financial institution if the person has the power, directly or indirectly, or through or in concert with one or more persons, to vote more than 10% but less than 25% of any class of voting securities of a financial institution.
(2) Except as provided in rule made under Subsection (3), a person seeking to rebut a presumption of control described in Subsection (1) shall submit an application to the commissioner.
(3) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commissioner may make rules that specify:
(a) the procedures and requirements for an application described in Subsection (2); and
(b) the conditions under which a person may obtain a determination that the person is not in control of a financial institution without filing an application in accordance with Subsection (2).
(4) The commissioner has sole discretion to determine whether a person rebuts a presumption of control under this section.
Enacted by Chapter 449, 2022 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 1 - Citation, Purposes, Definitions, and Application › Section 104 - Exemptions from application of title.

7-1-104.
Exemptions from application of title.
(1) This title does not apply to:
(a) investment companies registered under the Investment Company Act of 1940, 15 U.S.C. Sec. 80a-1 et seq.;
(b) securities brokers and dealers registered pursuant to:
(i)Title 61, Chapter 1, Utah Uniform Securities Act; or
(ii) the federal Securities Exchange Act of 1934, 15 U.S.C. Sec. 78a et seq.;
(c) depository or other institutions performing transaction account services, including third party transactions, in connection with:
(i) the purchase and redemption of investment company shares; or
(ii) access to a margin or cash securities account maintained by a person identified in Subsection (1)(b); or
(d) insurance companies selling interests in an investment company or "separate account" and subject to regulation by the Utah Insurance Department.
(2)
(a) An institution, organization, or person is not exempt from this title if, within this state, it holds itself out to the public as receiving and holding deposits from residents of this state, whether evidenced by a certificate, promissory note, or otherwise.
(b) An investment company is not exempt from this title unless the investment company is registered with the United States Securities and Exchange Commission under the Investment Company Act of 1940, 15 U.S.C. Sec. 80a-1 et seq., and is advised by an investment adviser:
(i) which is registered with the United States Securities and Exchange Commission under the Investment Advisers Act of 1940, 15 U.S.C. Sec. 80b-1 et seq.; and
(ii) which advises investment companies and other accounts with a combined value of at least $50,000,000.
Amended by Chapter 356, 2009 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 1 - Citation, Purposes, Definitions, and Application › Section 105 - Procedures -- Adjudicative proceedings.

7-1-105.
Procedures -- Adjudicative proceedings.
The commissioner and the department shall, except to the extent exempted, comply with the procedures and requirements of Title 63G, Chapter 4, Administrative Procedures Act, in their adjudicative proceedings.
Amended by Chapter 382, 2008 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 1 - Citation, Purposes, Definitions, and Application › Section 106 - Venue for action or petition brought by commissioner.

Effective 7/1/2024
7-1-106.
Venue for action or petition brought by commissioner.
If the commissioner brings an action in the district court under this title, the commissioner shall bring the action:
(1) in accordance with Title 78B, Chapter 3a, Venue for Civil Actions; or
(2) in the county where the office of the commissioner is located.
Enacted by Chapter 401, 2023 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 2 - Department of Financial Institutions › Section 201 - Creation of department -- Organization.

Effective 5/9/2017
7-1-201.
Creation of department -- Organization.
(1) There is created the Department of Financial Institutions that is responsible for the execution of the laws of this state relating to a financial institution or other person subject to this title, and relating to the businesses that the financial institution or other person conducts.
(2) The department organization includes:
(a) the commissioner of financial institutions, who shall be the chief executive officer of the department;
(b) the Board of Financial Institutions;
(c) the chief examiner;
(d) the deputy commissioner;
(e) the supervisor of banks;
(f) the supervisor of industrial banks;
(g) the supervisor of credit unions;
(h) the supervisor of money services businesses;
(i) the supervisor of holding companies; and
(j) other supervisors, examiners, and personnel as may be required to carry out the duties, powers, and responsibilities of the department.
(3) A power or duty of the commissioner under this title may be exercised by the deputy commissioner or a supervisor described in Subsection (2) if the commissioner delegates in writing the authority to exercise the power or duty to the deputy commissioner or supervisor.
Amended by Chapter 169, 2017 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 2 - Department of Financial Institutions › Section 202 - Commissioner of financial institutions as executive officer -- Appointment -- Term -- Salary -- Qualifications.

Effective 5/12/2020
7-1-202.
Commissioner of financial institutions as executive officer -- Appointment -- Term -- Salary -- Qualifications.
The chief executive officer of the Department of Financial Institutions shall be the commissioner of financial institutions who shall be appointed by the governor with the advice and consent of the Senate. The commissioner shall hold office for a term of four years following appointment and confirmation and until a successor is appointed and qualified, but shall be subject to removal at the pleasure of the governor. The governor shall establish the commissioner's salary within the salary range fixed by the Legislature in Title 67, Chapter 22, State Officer Compensation. The commissioner of financial institutions shall be a citizen of the United States and shall have sufficient experience with depository institutions or as an employee of a state or federal agency having supervision over financial institutions to demonstrate the commissioner's qualifications and fitness to perform the duties of the commissioner's office.
Amended by Chapter 352, 2020 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 2 - Department of Financial Institutions › Section 204 - Chief examiner -- Powers and duties.

7-1-204.
Chief examiner -- Powers and duties.
(1) The commissioner shall designate an examiner as chief examiner, who shall be sufficiently qualified by training and experience in financial institutions or as an employee of a state or federal agency having supervision of financial institutions to perform the duties of the office.
(2) The chief examiner shall serve at the pleasure of the commissioner. If the office of commissioner is vacant, or in the absence, recusal, or disability of the commissioner, the chief examiner shall exercise all of the powers of the commissioner, except those powers the commissioner otherwise delegates or reserves during a period of absence or recusal. The chief examiner shall assist, advise, and perform administrative duties as directed by the commissioner and may also act as a supervisor.
Amended by Chapter 200, 1994 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 2 - Department of Financial Institutions › Section 205 - Supervisor of banks -- Responsibilities.

7-1-205.
Supervisor of banks -- Responsibilities.
(1) The commissioner shall designate an examiner as supervisor of banks, who shall be sufficiently qualified by training and experience in the banking business or as an employee of a state or federal bank supervisory agency to perform the duties of the office.
(2) The supervisor of banks is responsible, subject to the direction and control of the commissioner, for the general supervision and examination of all banks and bank-related institutions subject to the jurisdiction of the department. The supervisor shall assist and advise the commissioner in the execution of the laws of this state relating to these institutions and shall perform other duties prescribed in this title or assigned by the commissioner.
Amended by Chapter 200, 1994 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 2 - Department of Financial Institutions › Section 207 - Supervisor of industrial banks -- Responsibilities.

7-1-207.
Supervisor of industrial banks -- Responsibilities.
(1) The commissioner shall designate an examiner as supervisor of industrial banks who shall be sufficiently qualified by training and experience in the business of industrial banks or other financial institutions or as an employee of a state or federal agency supervising financial institutions to perform the duties of the office.
(2)
(a) The supervisor of industrial banks is responsible, subject to the direction and control of the commissioner, for the general supervision and examination of all industrial banks subject to the jurisdiction of the department and other institutions as assigned.
(b) The supervisor shall:
(i) assist and advise the commissioner in the execution of the laws of this state relating to these institutions; and
(ii) perform other duties prescribed in this title or assigned by the commissioner.
Amended by Chapter 92, 2004 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 2 - Department of Financial Institutions › Section 208 - Supervisor of credit unions -- Responsibilities.

7-1-208.
Supervisor of credit unions -- Responsibilities.
(1) The commissioner shall designate an examiner as supervisor of credit unions who shall be sufficiently qualified by training and experience in the business of credit unions or as an employee of a state or federal agency supervising credit unions to perform the duties of the office.
(2) The supervisor of credit unions is responsible, subject to the direction and control of the commissioner, for the general supervision and examination of all credit unions subject to the jurisdiction of the department and other institutions assigned by the commissioner. The supervisor shall assist and advise the commissioner in the execution of the laws of this state relating to these institutions, and shall perform other duties prescribed in this title or assigned by the commissioner.
Amended by Chapter 200, 1994 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 2 - Department of Financial Institutions › Section 208.1 - Supervisor of holding companies -- Qualifications -- Responsibilities.

Effective 5/9/2017
7-1-208.1.
Supervisor of holding companies -- Qualifications -- Responsibilities.
(1) The commissioner may designate an examiner as supervisor of holding companies who shall be a citizen of the United States and shall have sufficient training and experience with regard to holding companies to demonstrate the examiner's qualifications and fitness to perform the duties of the supervisor of holding companies.
(2) The supervisor of holding companies is responsible, subject to the direction and control of the commissioner, for the general supervision and examination of all holding companies subject to the jurisdiction of the department under this title. The supervisor of holding companies shall assist and advise the commissioner in the execution of the laws of this state relating to holding companies and shall perform other duties prescribed in this title or assigned to the supervisor of holding companies by the commissioner.
Amended by Chapter 169, 2017 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 2 - Department of Financial Institutions › Section 208.2 - Deputy commissioner.

7-1-208.2.
Deputy commissioner.
The commissioner may appoint a deputy commissioner who shall be a citizen of the United States and a member of the Utah State Bar, to serve at the pleasure of the commissioner. The deputy commissioner shall serve as staff attorney for the department and perform all other duties assigned to him by the commissioner.
Enacted by Chapter 267, 1989 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 2 - Department of Financial Institutions › Section 208.3 - Supervisor of money services businesses.

7-1-208.3.
Supervisor of money services businesses.
(1) The commissioner shall designate an examiner as supervisor of money services businesses who shall be sufficiently qualified by training and experience in the business of money services businesses or other financial institutions or as an employee of a state or federal agency supervising financial institutions to perform the duties of the office.
(2)
(a) The supervisor of money services businesses is responsible, subject to the direction and control of the commissioner, for the general supervision and examination of money services businesses subject to the jurisdiction of the department and other institutions as assigned.
(b) The supervisor shall:
(i) assist and advise the commissioner in the execution of the laws of this state relating to money services businesses; and
(ii) perform other duties prescribed in this title or assigned by the commissioner.
Enacted by Chapter 73, 2013 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 2 - Department of Financial Institutions › Section 209 - Additional supervisors, examiners, and other personnel -- Compensation -- Travel expenses.

Effective 5/9/2017
7-1-209.
Additional supervisors, examiners, and other personnel -- Compensation -- Travel expenses.
(1) In addition to the supervisors under Sections 7-1-205 through 7-1-208.1 and 7-1-208.3, the commissioner may appoint additional supervisors as necessary. The commissioner may assign to any supervisor responsibility, subject to the direction and control of the commissioner, for the general supervision and examination of any class of financial institutions or other persons not specifically assigned to another supervisor.
(2) The commissioner may employ examiners required for the proper conduct of the department. These examiners may not be interested, directly or indirectly, in any institution under the jurisdiction and supervision of the department. They shall perform duties prescribed by this title or assigned to them by the commissioner.
(3) The commissioner may delegate to the chief examiner or any supervisor the duty of conducting hearings in carrying out the duties, powers, and functions of the department, or the commissioner may employ, on a regular or part-time basis, similarly qualified persons to act as hearing officers for those purposes.
(4) The commissioner may appoint or employ, on a permanent or consulting basis, other persons qualified by education, training, and experience for the needs of the department as the commissioner considers necessary to carry out the duties, powers, and responsibilities of the department.
(5) The commissioner may employ clerical help to properly carry on the work of the department.
(6) The salaries of the employees of the department shall be fixed in accordance with salary and merit standards adopted by the Division of Finance and are payable in the same manner as the salaries of other state employees. All actual and necessary traveling expenses of the commissioner, supervisors, examiners, and other employees of the department incurred in the discharge of their duties shall be fully itemized upon proper vouchers and certified by the commissioner to the director of the Division of Finance.
Amended by Chapter 169, 2017 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 2 - Department of Financial Institutions › Section 211 - Reports of commissioner to governor and Legislature.

7-1-211.
Reports of commissioner to governor and Legislature.
The commissioner shall submit on or before October 1 of each year a report to the governor and to the Legislature containing information from the last report of condition furnished by each institution under the supervision of the department and any other proceeding had or done by the department showing generally the condition of the businesses under the supervision of the department and such other matters in connection with the businesses as may be of interest to the public; and a detailed statement, verified by oath, of all fees and other money received by the department during the same period.
Enacted by Chapter 16, 1981 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 2 - Department of Financial Institutions › Section 212 - Background checks for employees.

Effective 5/8/2018
7-1-212.
Background checks for employees.
(1) As used in this section,"bureau" means the Bureau of Criminal Identification created in Section 53-10-201.
(2) Beginning July 1, 2018, the department shall require current employees in, and all applicants for, the following positions to submit to a fingerprint-based local, regional, and national criminal history background check and ongoing monitoring as a condition of employment:
(a) agency information security managers;
(b) financial institutions examiners;
(c) financial institutions managers; and
(d) financial institutions specialists.
(3) Each individual in a position listed in Subsection (2) shall provide a completed fingerprint card to the department upon request.
(4) The department shall require that an individual required to submit to a background check under Subsection (3) provide a signed waiver on a form provided by the department that meets the requirements of Subsection 53-10-108(4).
(5) For a noncriminal justice background search and registration in accordance with Subsection 53-10-108(13), the department shall submit to the bureau:
(a) the applicant's personal identifying information and fingerprints for a criminal history search of applicable local, regional, and national databases; and
(b) a request for all information received as a result of the local, regional, and nationwide background check.
(6) The department is responsible for the payment of all fees required by Subsection 53-10-108(15) and any fees required to be submitted to the Federal Bureau of Investigation by the bureau.
(7) The department may make rules in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, that:
(a) determine how the department will assess the employment status of an individual upon receipt of background information; and
(b) identify the appropriate privacy risk mitigation strategy to be used in accordance with Subsection 53-10-108(13)(b).
Enacted by Chapter 427, 2018 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 2 - Department of Financial Institutions › Section 213 - Compliance with training and certification requirements.

Effective 5/8/2018
7-1-213.
Compliance with training and certification requirements.
The department shall ensure that any training or certification required of a public official or public employee, as those terms are defined in Section 63G-22-102, complies with Title 63G, Chapter 22, State Training and Certification Requirements, if the training or certification is required:
(1) under this title;
(2) by the department; or
(3) by an agency or division within the department.
Enacted by Chapter 200, 2018 General Session
Technically renumbered to avoid duplication of section number also enacted in SB 143, Chapter 427.
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 3 - Powers and Duties of Commissioner of Financial Institutions › Section 302 - Review of supervisor's action by commissioner.

7-1-302.
Review of supervisor's action by commissioner.
The commissioner shall review, upon written request of the institution or other person affected, any act or order of a supervisor and may suspend, modify, or revoke any such act or order as he may find to be arbitrary, capricious, contrary to law or the rules and regulations of the department, or not in the best interest of the public or of the state.
Enacted by Chapter 16, 1981 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 3 - Powers and Duties of Commissioner of Financial Institutions › Section 303 - Joint operations and information exchange by institutions.

7-1-303.
Joint operations and information exchange by institutions.
The commissioner may authorize institutions subject to the jurisdiction of the department to engage in such joint and cooperative actions as the commissioner finds will be in the public interest, including:
(1) mutual exchange of financial information as to depositors, borrowers, and other customers;
(2) joint use of facilities;
(3) joint operation of clearing houses and other facilities for payment of checks, drafts, or other instruments drawn on or issued by various classes of depository institutions;
(4) joint participation in lending programs to promote the public welfare;
(5) joint risk management services; and
(6) joint ownership, operation, or furnishing of electronic funds transfer services.
Amended by Chapter 378, 2010 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 3 - Powers and Duties of Commissioner of Financial Institutions › Section 304 - Civil actions against unauthorized operations.

7-1-304.
Civil actions against unauthorized operations.
The commissioner may bring any appropriate civil action to prevent or restrain any person from engaging in this state in any business subject to the jurisdiction of the department without first having obtained the authority to do so as provided in this title or from violating any other provisions of this title or any rule, regulation, or order of the commissioner.
Enacted by Chapter 16, 1981 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 3 - Powers and Duties of Commissioner of Financial Institutions › Section 305 - Final decisions on applications for new institutions, branches, relocation, merger, consolidation, acquisition and changes in control of financial institutions.

7-1-305.
Final decisions on applications for new institutions, branches, relocation, merger, consolidation, acquisition and changes in control of financial institutions.
The commissioner shall make final decisions consistent with the purposes and provisions of this title on behalf of the department upon all applications to the department for approval of new institutions, branches, relocation, mergers or consolidation, acquisitions and changes in control of institutions subject to the jurisdiction of the department.
Enacted by Chapter 16, 1981 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 3 - Powers and Duties of Commissioner of Financial Institutions › Section 307 - Cease and desist orders -- Procedure for issuance.

7-1-307.
Cease and desist orders -- Procedure for issuance.
(1) If the commissioner has determined that any institution or other person under the jurisdiction of the department, or any director, officer, employee, agent, or other person participating in the conduct of the affairs of such institution or other person, is engaging or has engaged or that the commissioner has reasonable cause to believe is about to engage in an unsafe or unsound practice in conducting the business of such institution or other person, or is violating or has violated or the commissioner has reasonable cause to believe is about to violate any applicable provision of this title, or any rule, regulation, order, or any condition imposed in writing by the commissioner in the granting of any application or other request by the institution or other person, or any written agreement entered into with the commissioner, the commissioner may, after notice and opportunity for hearing, issue a cease and desist order against such institution or other person.
(2) If the commissioner has determined that any institution or other person under the jurisdiction of the department or any director, officer, employee, agent, or other person participating in the conduct of the affairs of such institution or other person is engaging in any unsafe or unsound practice or is violating any relevant provision of this title, or any rule, regulation, order, or any condition imposed in writing by the commissioner which the commissioner determines threatens the safety and soundness of the institution or other person, the commissioner may issue a temporary cease and desist order. A temporary cease and desist order is effective immediately upon issuance for 30 days and may be extended by the commissioner in writing for two consecutive 15-day periods. A hearing on the temporary cease and desist order shall be held by the commissioner within 10 days of its issuance, at which time the temporary cease and desist order may be set aside, modified, terminated, or made final.
Enacted by Chapter 8, 1983 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 3 - Powers and Duties of Commissioner of Financial Institutions › Section 308 - Suspension or removal of director or officer -- Grounds -- Procedure for issuance of order.

7-1-308.
Suspension or removal of director or officer -- Grounds -- Procedure for issuance of order.
(1)
(a) If the commissioner has determined that any officer or director of an institution or other person under the jurisdiction of the department has:
(i) violated any law, rule, regulation, or a cease and desist order which has become final;
(ii) engaged or participated in any unsafe or unsound practice in the conduct of the affairs of the institution or other person;
(iii) committed or engaged in any act, omission, or practice which constitutes a breach of his fiduciary duty as an officer or director;
(iv) been charged in any information, indictment, or complaint authorized by a county attorney, a district attorney, or the attorney general of the state relative to a violation of this title; or
(v) been charged with the commission of or participation in a crime involving dishonesty or breach of trust; and
(b) if the commissioner determines that:
(i) the institution or other person under the jurisdiction of the department has suffered or will suffer substantial financial loss or other damage due to such actions and that such action may impair the safety and soundness of the institution or other person or prejudice in any manner the interests of the depositors, members, creditors, or shareholders; or
(ii) the director or officer has received financial gain by reason of any breach of fiduciary duty; the commissioner may, after notice and opportunity for hearing, serve upon such director or officer a written notice of suspension or removal of the individual from office or prohibition from further participation in the conduct of the affairs of the institution or other person.
(2) If the commissioner deems it necessary for the protection of an institution or other person under the jurisdiction of the department or the interests of its depositors, members, creditors, or shareholders, he may, by written notice served upon the officer or director, suspend that officer or director from office or prohibit him from further participation in any manner in the conduct of the affairs of the institution or other person. The suspension or prohibition is effective upon service of the notice and, unless stayed by a court, shall remain in effect until the commissioner dismisses the charges specified in the notice, or, if an order of removal or prohibition is issued against the officer or director, until the effective date of that order.
Amended by Chapter 38, 1993 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 3 - Powers and Duties of Commissioner of Financial Institutions › Section 309 - Hearings by commissioner -- Discretion of commissioner -- Procedure -- Judicial review.

7-1-309.
Hearings by commissioner -- Discretion of commissioner -- Procedure -- Judicial review.
The commissioner may conduct or cause to be conducted hearings relating to matters within his supervisory jurisdiction and shall establish rules for discovery and other procedures applicable to the hearings consistent with the provisions of the Utah Rules of Civil Procedure. The decision whether or not to hold a formal hearing on any matter coming before the commissioner under this title shall be solely within the discretion of the commissioner. His failure or refusal to hold a formal hearing is not a ground for reversal of any decision or order of the commissioner unless the reviewing court finds that such failure or refusal has deprived an interested party of due process of law, or that a formal hearing is required by the provisions of this title.
Amended by Chapter 378, 2010 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 3 - Powers and Duties of Commissioner of Financial Institutions › Section 310 - Subpoena power of commissioner.

7-1-310.
Subpoena power of commissioner.
The commissioner may issue subpoenas to compel the attendance of witnesses and the production of books, records, and other papers and documents and may examine or cause to be examined under oath any officer, director, or employee of any institution subject to the jurisdiction of the department or any other person whose testimony he finds relevant to any matter before him or whose testimony is necessary or appropriate in carrying out his duties and responsibilities.
Enacted by Chapter 16, 1981 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 3 - Powers and Duties of Commissioner of Financial Institutions › Section 311 - Moratoriums on applications for new depository institutions or branches.

7-1-311.
Moratoriums on applications for new depository institutions or branches.
The commissioner may establish, upon finding that applicable financial and economic conditions require such action, a moratorium on accepting or acting upon applications to conduct a business of depository institutions subject to the jurisdiction of the department or to establish new branches or offices of institutions subject to the jurisdiction of the department. The moratorium may apply to the entire state or to such community or communities or other market area or areas as the commissioner finds appropriate. No such period shall extend for a period longer than one year, unless the commissioner finds that the public interest requires renewal of the period for an additional period not to exceed one year.
Enacted by Chapter 16, 1981 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 3 - Powers and Duties of Commissioner of Financial Institutions › Section 312 - Reports required of large stockholders of financial institutions as to loans secured by stock.

7-1-312.
Reports required of large stockholders of financial institutions as to loans secured by stock.
The commissioner may require any person owning or acquiring 25% or more of the outstanding capital stock of any depository institution subject to his jurisdiction, or 25% or more of the stock of any corporation having control of the institution, to report to him any borrowing by that person which is secured by that stock and to report to him the terms of the borrowing. This section applies only if the purpose for the borrowing was to acquire control of the institution or any other depository institution.
Enacted by Chapter 16, 1981 General Session