reglab/statecodes huggingface dataset:
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 6 - Deposit Accounts › Section 619 - Savings promotion programs.

Effective 5/14/2019
7-1-619.
Savings promotion programs.
(1) As used in this section:
(a) "Prize period" means a period of time, designated by a depository institution, during which a qualifying account holder may submit an entry into the depository institution's savings promotion program for a chance to win a prize designated as the prize for that period.
(b) "Qualifying account" means a savings account that qualifies the savings account holder for an entry into the saving account's depository institution's savings promotion program each time the holder of the savings account:
(i) deposits a minimum amount of money specified by the depository institution into the savings account; and
(ii) leaves the minimum deposit in the savings account for no less than an amount of time specified by the depository institution.
(c) "Qualifying account holder" means a person who holds a qualifying account.
(d) "Savings promotion program" means a contest:
(i) that a depository institution conducts to encourage savings deposits; and
(ii) in which a qualifying account holder is offered a chance to win a designated prize for each entry submitted in association with the qualifying account holder's qualifying account.
(2) A depository institution may conduct a savings promotion program if:
(a) no qualifying account holder is required to:
(i) pay a fee or otherwise provide any consideration to submit an entry in the savings promotion program; or
(ii) be present at a prize drawing in order to win;
(b) any fee charged by a depository institution in connection with a qualifying account is comparable with a fee charged in connection with a comparable nonqualifying account the depository institution offers;
(c) any interest rate a depository institution associates with a qualifying account is comparable to an interest rate associated with a comparable nonqualifying account the depository institution offers;
(d) each entry in the savings promotion program during a single prize period has an equal chance of winning; and
(e) the depository institution:
(i) conducts the savings promotion program in a manner that does not:
(A) jeopardize the depository institution's ability to operate in a safe and sound manner; or
(B) mislead the depository institution's account holders; and
(ii) fully discloses the terms and conditions of the savings promotion program to each of the depository institution's account holders.
(3) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commissioner may make rules that:
(a) require a depository institution that conducts a savings promotion program to maintain all records the commissioner determines necessary for the administration and enforcement of this section; or
(b) ensure that a depository institution conducts a savings promotion program in accordance with this section.
Enacted by Chapter 169, 2019 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 7 - Authorization Required to Conduct Business › Section 706 - Application to commissioner to exercise power -- Procedure -- Notice.

Effective 5/3/2023
7-1-706.
Application to commissioner to exercise power -- Procedure -- Notice.
(1) Except as provided in Sections 7-1-704 and 7-1-705, by filing a request for agency action with the commissioner, any person may request the commissioner to:
(a) issue any rule or order;
(b) exercise any powers granted to the commissioner under this title; or
(c) act on any matter that is subject to the approval of the commissioner.
(2) Within 10 days of receipt of the request, the commissioner shall, at the applicant's expense, cause a supervisor to make a careful investigation of the facts relevant or material to the request.
(3)
(a) The supervisor shall submit written findings and recommendations to the commissioner.
(b) The application, any additional information furnished by the applicant, and the findings and recommendations of the supervisor may be inspected by any person at the office of the commissioner, except those portions of the application or report that the commissioner designates as confidential to prevent a clearly unwarranted invasion of privacy.
(4)
(a) If a hearing is held concerning the request, the commissioner shall publish notice of the hearing, at the applicant's expense, for the county where the applicant is located, as a class A notice under Section 63G-30-102, for three weeks before the date of the hearing.
(b) The notice required by Subsection (4)(a) shall include the information required by the department's rules.
(c) The commissioner shall act upon the request within 30 days after the close of the hearing, based on the record before the commissioner.
(5)
(a) If no hearing is held, the commissioner shall approve or disapprove the request within 90 days of receipt of the request based on:
(i) the application;
(ii) additional information filed with the commissioner; and
(iii) the findings and recommendations of the supervisor.
(b) The commissioner shall act on the request by issuing findings of fact, conclusions, and an order, and shall mail a copy of each to:
(i) the applicant;
(ii) all persons who have filed protests to the granting of the application; and
(iii) other persons that the commissioner considers should receive copies.
(6) The commissioner may impose any conditions or limitations on the approval or disapproval of a request that the commissioner considers proper to:
(a) protect the interest of creditors, depositors, and other customers of an institution;
(b) protect its shareholders or members; and
(c) carry out the purposes of this title.
Amended by Chapter 435, 2023 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 7 - Authorization Required to Conduct Business › Section 709 - Branches -- Discontinuance of operation.

7-1-709.
Branches -- Discontinuance of operation.
(1) A Utah depository institution or out-of-state depository institution authorized to do business in this state may discontinue operation of a branch upon resolution of its board of directors.
(2) Upon adopting the resolution, the institution shall file an application with the commissioner specifying:
(a) the location of the branch to be discontinued;
(b) the date of the proposed discontinuance;
(c) the reasons for closing the branch; and
(d) the extent to which the public need and convenience or service to members would still be adequately met.
(3)
(a) Upon filing its application with the commissioner, the institution shall publish notice of the discontinuance:
(i) in a newspaper serving the area once a week for two consecutive weeks; and
(ii) as required by Section 45-1-101 for two weeks.
(b) The commissioner may approve the application after a reasonable comment period following publication.
(4) An out-of-state depository institution with a branch in Utah is not subject to the requirements of this section if the branch to be closed is located outside of Utah.
Amended by Chapter 388, 2009 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 7 - Authorization Required to Conduct Business › Section 710 - "Agency" defined -- Purposes and establishment of agency.

Effective 5/13/2014
7-1-710.
"Agency" defined -- Purposes and establishment of agency.
(1) As used in this section, "agency" means a place, person, or facility, stationary or mobile, other than the home office or a branch office:
(a) where functions of the financial institution not involving the receiving or paying of deposits, making of loans or the handling of cash may be performed;
(b) established for individual transactions and for special temporary purposes;
(c) established for the purposes set forth in Sections 7-1-608 and 7-1-609; or
(d) established to perform the functions of a financial institution service corporation.
(2) A financial institution may establish one or more agencies without the prior written approval of the commissioner. Within 30 days of the establishment of an agency, the financial institution shall inform the commissioner in writing of the address of the agency and the specific functions for which it was established.
(3) No agency may be converted to a branch without compliance with Section 7-1-708.
Amended by Chapter 189, 2014 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 7 - Authorization Required to Conduct Business › Section 711 - Mobile facilities -- Approval required for operation.

7-1-711.
Mobile facilities -- Approval required for operation.
No financial institution may operate a mobile facility in this state at which deposits are received, checks paid, or money lent without the prior written approval of the commissioner.
Amended by Chapter 133, 1991 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 7 - Authorization Required to Conduct Business › Section 712 - Acquisition of office of another financial institution.

7-1-712.
Acquisition of office of another financial institution.
Any financial institution authorized to do business in this state may acquire an office of any other financial institution located in this state upon obtaining the prior written approval of the commissioner in the manner provided in Section 7-1-708 for the establishment of a branch.
Amended by Chapter 1, 1986 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 7 - Authorization Required to Conduct Business › Section 713 - Conversion of financial institution -- Approval required -- Procedure -- Federal-state conversion.

7-1-713.
Conversion of financial institution -- Approval required -- Procedure -- Federal-state conversion.
(1) Any financial institution authorized to do business as a particular class of financial institution under any chapter of this title may convert to an institution authorized to do business under another chapter by applying to the department for approval in the manner provided in Section 7-1-706.
(2) If the commissioner approves the conversion, the institution shall immediately surrender its former charter to the commissioner. Under its new charter as a financial institution of a different class, it is entitled to all the benefits and powers conferred under the applicable chapter to other financial institutions of that class and is subject to examination, supervision, and regulation to the same extent as all other financial institutions of that class.
(3) Any depository institution organized under the laws of this state may convert to a depository institution organized under the laws of the United States upon compliance with the laws of the United States and upon surrender of its charter to the commissioner.
(4) Any depository institution organized under the laws of the United States or any other state that is authorized to do business in this state may convert into a depository institution subject to the jurisdiction of the department by applying to the department for approval in the manner provided in Section 7-1-706.
Amended by Chapter 200, 1994 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 7 - Authorization Required to Conduct Business › Section 714 - Judicial review of acts of commissioner -- Hearing by court.

7-1-714.
Judicial review of acts of commissioner -- Hearing by court.
(1) Any person aggrieved by any rule, regulation, order, decision, or ruling or other act or failure to act of the commissioner under this title is entitled to judicial review.
(2) Judicial review of other agency actions shall be governed by the procedures and requirements of this subsection.
(a) Within 30 days after receipt of notice of a rule, order, or other decision or ruling not arising from an adjudicative proceeding, or within 120 days after the commissioner has failed to act upon a request or application, the aggrieved person may file an application for judicial review with a court of competent jurisdiction in the county in which the applicant is located, or in the county where the office of the commissioner is located, and may request an immediate hearing on the act or failure to act.
(b) The court shall require adequate notice to be served on the commissioner and all other interested parties and shall give the petition for review precedence on its calendar.
(c) The court shall review the record before the commissioner and shall adjudicate the question, enter appropriate orders, and enforce them.
(d) The court may declare void any rule, regulation, order, decision, ruling, or other act of the commissioner it finds to be arbitrary, capricious, an abuse of discretion, or otherwise contrary to law.
(3) Any action for judicial review of acts or failure to act of the commissioner shall be heard by the court and shall be based on the record made before the department.
Amended by Chapter 161, 1987 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 7 - Authorization Required to Conduct Business › Section 715 - Loan production offices -- Application and procedure for approval.

7-1-715.
Loan production offices -- Application and procedure for approval.
(1) With the prior approval of the commissioner, a depository institution may establish one or more loan production offices.
(2) A loan production office shall be staffed and accessible to the public.
(3) A loan production office may:
(a) solicit loans on behalf of its depository institution;
(b) assemble credit information;
(c) make property inspections and appraisals;
(d) secure title information;
(e) prepare applications for loans;
(f) solicit investors to purchase loans from the depository institution;
(g) seek to have these investors contract with a depository institution for servicing the loans; and
(h) engage in other activities in the nature of acting as an agent for the parent depository institution in facilitating the production of loans.
(4) A loan production office may not do any of the following:
(a) accept deposits;
(b) originate deposit, savings, or share accounts;
(c) pay checks;
(d) approve loans; or
(e) disburse loan funds.
(5) A loan processed by a loan production office may only be approved at the main office or approved branch of the depository institution, except a loan production office may make a recommendation, subject to independent analysis and approval by the depository institution.
(6) Funds from a loan processed by a loan production office may only be disbursed at the main office or approved branch of the depository institution, or at the office of an independent third party, such as a title company or escrow agent.
(7) Although a loan production office is not considered a branch, the establishment of a loan production office is subject to the prior approval of the commissioner in the manner provided in Section 7-1-708 for the establishment of a branch office.
(8) Each depository institution with operating loan production offices in Utah as of June 1, 1994, shall file an initial registration with the department stating the location of each loan production office on or before July 15, 1994. All subsequent applications for a loan production office require prior approval of the commissioner.
(9) If the commissioner determines that it is in the public interest, the department may examine the books and records of the office at the per diem charge established in Section 7-1-401.
Amended by Chapter 49, 1995 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 7 - Authorization Required to Conduct Business › Section 716 - Affiliate depository institutions acting as agents -- Notification required.

7-1-716.
Affiliate depository institutions acting as agents -- Notification required.
(1) Any depository institution may, at its main office or at any branch, act as an agent of any other depository institution that is a subsidiary of the same depository institution holding company in conducting the activities authorized under this section.
(2) This section applies regardless of whether the affiliate depository institutions have the same home state.
(3) A depository institution acting as agent for an affiliate depository institution may:
(a) receive deposits;
(b) renew time deposits;
(c) engage in the activities authorized for a loan production office under Section 7-1-715;
(d) service loans; and
(e) receive payments on loans and other obligations.
(4) A depository institution may not do any of the following as an agent on behalf of an affiliate depository institution:
(a) open or originate deposit, savings, or share accounts;
(b) evaluate or approve loans;
(c) disburse loan funds; or
(d) conduct any activity as an agent that it is prohibited from conducting as a principal under any applicable law.
(5) A depository institution acting as a principal may not have an affiliate depository institution act as its agent in conducting any activity that:
(a) the principal depository institution is prohibited from conducting; or
(b) the agent depository institution would be prohibited from conducting as a principal.
(6) An agency relationship between affiliates under this section shall be consistent with safe and sound practices and shall comply with all applicable law.
(7) A depository institution acting as an agent is not considered to be a branch of the affiliate solely because of activities conducted under this section.
Enacted by Chapter 49, 1995 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 8 - Miscellaneous › Section 801 - False statement derogatory to financial condition of depository institution a misdemeanor -- Exemptions.

7-1-801.
False statement derogatory to financial condition of depository institution a misdemeanor -- Exemptions.
(1) Any person who willfully and knowingly makes or circulates or transmits to another any statement or rumor, written, printed, or by word of mouth, which is untrue in fact and is directly or by inference derogatory to the financial condition or standing of any depository institution, or who knowingly counsels, aids, procures, or induces another to state, transmit, or circulate any such statement or rumor, is guilty of a class B misdemeanor.
(2) Subsection (1) does not apply to the exchange of information between personnel of the department and the personnel of other regulatory and deposit insurance agencies in the discharge of regulatory duties, which communications are considered absolutely privileged.
Amended by Chapter 200, 1994 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 8 - Miscellaneous › Section 806 - Money market funds arranging with bank to honor two-party instruments -- Discouraging payment of interest to two persons on funds in transit -- Pyramiding and similar schemes as misdemeanors.

7-1-806.
Money market funds arranging with bank to honor two-party instruments -- Discouraging payment of interest to two persons on funds in transit -- Pyramiding and similar schemes as misdemeanors.
Nothing in this act shall be construed to prevent money market funds from making arrangements with banks to honor two party checks, drafts, or other instruments.
The commissioner shall exert his influence to discourage banks, money market funds and other programs in Utah and throughout the United States from paying interest to two persons at the same time on funds in the process of transfer.
The process or the practice referred to as pyramiding or any similar process or practice as defined by the commissioner, and such definition is approved by the governor, shall be prohibited within this state and persons found guilty of these schemes shall be found guilty of a class C misdemeanor. This does not preclude more serious punishment under federal law.
Money market funds, similar funds and bank regulated institutions shall cooperate with the commissioner to stop these practices.
Amended by Chapter 378, 2010 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 8 - Miscellaneous › Section 807 - Printed checks, drafts and orders -- Requirements -- Violation as misdemeanor.

7-1-807.
Printed checks, drafts and orders -- Requirements -- Violation as misdemeanor.
Every check, draft, order, or other like instrument printed for a customer of any institution issuing transaction accounts in the state as part of a series after the effective date of this act shall have on its face the name and address of the account holder, the month and year the account was opened, and the number of the check, draft, order, or other like instrument in unbroken, sequential, numerical order, beginning with the number 101, except for initial deposits to open a new account or in case of lost or stolen checks when a limited supply of unnumbered counterchecks may be issued. Any person who violates this section is guilty of a class C misdemeanor.
Enacted by Chapter 56, 1983 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 8 - Miscellaneous › Section 808 - Closing days for depository institutions.

7-1-808.
Closing days for depository institutions.
(1) Depository institutions shall be closed to the general public on Sundays.
(2)
(a) The commissioner may designate any additional or different day on which depository institutions are closed to the general public, such as in the event of:
(i) an emergency;
(ii) disaster;
(iii) flood;
(iv) earthquake;
(v) fire;
(vi) power outage;
(vii) heavy snow;
(viii) other impediment to:
(A) business; or
(B) the safety of customers and employees; or
(ix) any circumstance in which closing on an additional or different day serves the public interest.
(b) The commissioner may designate a day under Subsection (2)(a) as applying to all or any portion of the state.
(3)
(a) A depository institution may elect to be open or closed to the general public during business hours of its choosing on any day not designated under this section as a day for closing.
(b) A depository institution shall provide adequate notice to its customers or members of any change from normal business hours.
Amended by Chapter 260, 2000 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 8 - Miscellaneous › Section 809 - Articles of incorporation -- Amended or restated articles of incorporation -- Prerequisites to filing.

7-1-809.
Articles of incorporation -- Amended or restated articles of incorporation -- Prerequisites to filing.
(1) The Division of Corporations and Commercial Code may not file articles of incorporation that state that the purpose of the corporation is to transact business as a depository institution or to hold a corporation that will transact business as a depository institution until the department certifies that it has reviewed and does not object to the articles of incorporation.
(2) A corporation whose articles of incorporation have been filed with the Division of Corporations and Commercial Code pursuant to Subsection (1) may not transact business as a depository institution without authorization from the department in accordance with Section 7-1-705.
(3) The Division of Corporations and Commercial Code may not file articles of amendment or articles of restatement of a depository institution or depository institution holding company until the department has certified that it has reviewed and does not object to the articles of amendment or articles of restatement.
Enacted by Chapter 182, 1996 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 9 - Depository Institution Insurance Powers › Section 901 - Authorized insurance activities of depository institutions.

7-1-901.
Authorized insurance activities of depository institutions.
(1) A depository institution authorized to do business in this state under this title may directly, or indirectly through a subsidiary or affiliate, engage in the following insurance activities:
(a) engage in the insurance business as defined under Section 31A-1-301 except as may be limited by federal law;
(b) act as an insurance producer or consultant as defined under Section 31A-1-301; or
(c) engage in insurance adjusting as defined in Section 31A-26-102.
(2) A depository institution, subsidiary, or affiliate, that engages in insurance activities authorized under Subsection (1) shall be subject to Title 31A, Insurance Code.
Amended by Chapter 298, 2003 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 10 - Financial Information Privacy › Section 1001 - Definitions -- Written consent or court order for disclosure by financial institution -- Exception.

7-1-1001.
Definitions -- Written consent or court order for disclosure by financial institution -- Exception.
(1) As used in this part:
(a) "Account holder" means a person for whom an account is held by a financial institution.
(b) "Governmental entity" means:
(i) the state, including:
(A) a department;
(B) an institution;
(C) a board;
(D) a division;
(E) a bureau;
(F) an office;
(G) a commission;
(H) a committee; or
(I) an elected official; and
(ii) a political subdivision of the state, including:
(A) a county;
(B) a city;
(C) a town;
(D) a school district;
(E) a public transit district;
(F) a redevelopment agency;
(G) a special improvement district; or
(H) a taxing district.
(c) "Nonprotected record" means a record maintained by a financial institution to facilitate the conduct of the financial institution's business regarding a person or account, including:
(i) the existence of an account;
(ii) the opening and closing dates of an account;
(iii) the name under which an account is held; and
(iv) the name, address, and telephone number of an account holder.
(d) "Protected record" means a record that is not defined as a nonprotected record.
(e) "Record" means information that is:
(i) prepared, owned, received, or retained by a financial institution;
(ii)
(A) inscribed on a tangible medium; or
(B) stored in an electronic or other medium; and
(iii) retrievable in perceivable form.
(2) Except for a governmental entity listed in Subsection 7-1-1006(1), an individual acting on behalf of a governmental entity may not request, obtain by subpoena, or otherwise obtain information from a state or federally chartered financial institution that constitutes a record reflecting the financial condition of any person without first obtaining:
(a) written permission from all account holders of the account referenced in the record to be examined; or
(b) an order from a court of competent jurisdiction permitting access to the record.
(3) This section does not apply to a review made by the commissioner to determine whether a financial institution is operating in accordance with law.
Amended by Chapter 381, 2009 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 10 - Financial Information Privacy › Section 1002 - Notice to person about whom information sought.

7-1-1002.
Notice to person about whom information sought.
(1)
(a) If a court order is obtained pursuant to Section 7-1-1001, the governmental entity that obtained the order shall notify the person about whom information is sought that a court order has been obtained:
(i) within three days of the day on which service of the order is made upon the financial institution; and
(ii) no later than seven days before the day fixed in the order as the day upon which the records are to be produced or examined.
(b) The notice required by Subsection (1)(a) shall be accompanied by:
(i) a copy of the order that has been served upon the financial institution;
(ii) a copy of the motion or application upon which the order is based; and
(iii) a statement setting forth the rights of the person under Section 7-1-1003.
(2)
(a) The notice shall be sufficient if, on or before the third day after issuance of the order, notice is:
(i) served in the manner provided in Rule 4 (d), Utah Rules of Civil Procedure, upon the person entitled to notice; or
(ii) mailed by certified or registered mail to the last-known address of the person entitled to notice.
(b) Notwithstanding Subsection (2)(a), if the person entitled to notice is deceased or under legal disability, notice shall be served upon or mailed to the last-known address of that person's executor, administrator, guardian, or other fiduciary.
Renumbered and Amended by Chapter 3, 2008 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 10 - Financial Information Privacy › Section 1003 - Intervention to challenge or stay order -- Burden on governmental entity.

7-1-1003.
Intervention to challenge or stay order -- Burden on governmental entity.
(1) Notwithstanding any other law or rule of law, any person who is entitled to notice of a court order under Section 7-1-1002 shall have the right to intervene in any proceeding with respect to enforcement of the order to:
(a) challenge the issuance of the order; or
(b) stay compliance with the order.
(2) Upon intervention, the burden shall be on the governmental entity obtaining the order to show that there is reasonable cause for the issuance of the order.
Renumbered and Amended by Chapter 3, 2008 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 10 - Financial Information Privacy › Section 1004 - Reimbursement of financial institution for costs of obtaining information.

Effective 1/1/2017
7-1-1004.
Reimbursement of financial institution for costs of obtaining information.
(1) Except as provided in Subsection (2), a financial institution is entitled to reimbursement by a governmental entity seeking information, for costs reasonably and directly incurred in searching for, reproducing, or transporting a record required to be produced if the financial institution produces the record:
(a) pursuant to written permission by all account holders of the account referenced in the record in accordance with:
(i) Subsection 7-1-1001(2)(a); or
(ii) Subsection 7-1-1006(2)(b)(iii);
(b) in compliance with an order obtained under this part; or
(c) in compliance with an order of a court or administrative body of competent jurisdiction.
(2) A depository institution is not allowed reimbursement under this section by the State Tax Commission for information the depository institution provides or action the depository institution takes in accordance with Title 59, Chapter 1, Part 17, Depository Institution Data Match System and Levy Act.
(3) The commissioner shall by rule establish the rates and conditions under which a governmental entity shall reimburse a financial institution.
Amended by Chapter 326, 2016 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 10 - Financial Information Privacy › Section 1005 - Admissibility of information restricted.

7-1-1005.
Admissibility of information restricted.
(1) Information obtained directly or indirectly from a financial institution in violation of Sections 7-1-1001 through 7-1-1003 may not be admissible in any court of this state against the person entitled to notice.
(2) This section does not apply in any action:
(a) between the financial institution and the person otherwise entitled to notice; or
(b) in which it is claimed that the financial institution has been the victim of fraud, embezzlement or any other criminal act committed by the person otherwise entitled to notice.
Renumbered and Amended by Chapter 3, 2008 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 10 - Financial Information Privacy › Section 1006 - Inapplicable to certain official investigations.

Effective 5/3/2023
7-1-1006.
Inapplicable to certain official investigations.
(1) Sections 7-1-1002 and 7-1-1003 do not apply if an examination of a record is a part of an official investigation by:
(a) local police;
(b) a sheriff;
(c) a peace officer;
(d) a city attorney;
(e) a county attorney;
(f) a district attorney;
(g) the attorney general;
(h) the Department of Public Safety;
(i) the Office of Recovery Services of the Department of Health and Human Services;
(j) the Insurance Department;
(k) the Department of Commerce;
(l) the Benefit Payment Control Unit or the Payment Error Prevention Unit of the Department of Workforce Services;
(m) the state auditor;
(n) the State Tax Commission; or
(o) the Department of Health and Human Services or its designee, when undertaking an official investigation to determine whether an individual qualifies for certain assistance programs as provided in Section 26B-3-106.
(2) Except for the Office of Recovery Services, if a governmental entity listed in Subsection (1) seeks a record, the entity shall obtain the record as follows:
(a) if the record is a nonprotected record, by request in writing that:
(i) certifies that an official investigation is being conducted; and
(ii) is signed by a representative of the governmental entity that is conducting the official investigation; or
(b) if the record is a protected record, by obtaining:
(i) a subpoena authorized by statute;
(ii) other legal process:
(A) ordered by a court of competent jurisdiction; and
(B) served upon the financial institution; or
(iii) written permission from all account holders of the account referenced in the record to be examined.
(3) If the Office of Recovery Services seeks a record, the Office of Recovery Services shall obtain the record pursuant to:
(a) Subsection 26B-9-104(1)(g);
(b) Section 26B-9-205;
(c) Section 26B-9-208; or
(d) Title IV, Part D of the Social Security Act as codified in 42 U.S.C. 651 et seq.
(4) A financial institution may not give notice to an account holder or person named or referenced within the record disclosed pursuant to Subsection (2)(a).
(5) In accordance with Section 7-1-1004, the governmental entity conducting the official investigation that obtains a record from a financial institution under this section shall reimburse the financial institution for costs reasonably and directly incurred by the financial institution.
Amended by Chapter 327, 2023 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 1 - General Provisions › Part 10 - Financial Information Privacy › Section 1007 - Liability of financial institutions.

7-1-1007.
Liability of financial institutions.
A financial institution is not liable to an account holder or person named or referenced within a record:
(1) for a disclosure that is the result of a subpoena, order, or request made pursuant to Sections 7-1-1001 through 7-1-1006 if the financial institution reasonably believes that the subpoena, order, or request is properly made under Sections 7-1-1001 through 7-1-1006; or
(2) for a disclosure or action taken in good faith pursuant to a data match or administrative subpoena provided for by a statute listed in Subsection 7-1-1006(3).
Amended by Chapter 381, 2009 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 2 - Possession of Depository Institution by Commissioner › Section 2 - Jurisdiction of district court -- Supervision of actions of commissioner in possession -- Authority of commissioner and court.

Effective 5/13/2014
Superseded 7/1/2024
7-2-2.
Jurisdiction of district court -- Supervision of actions of commissioner in possession -- Authority of commissioner and court.
(1) The district court for the county in which the principal office of the institution or other person is situated has jurisdiction in the liquidation or reorganization of the institution or other person of which the commissioner has taken possession under this chapter or Chapter 19, Acquisition of Failing Depository Institutions or Holding Companies. As used in this chapter, "court" means the court given jurisdiction by this provision.
(2) Before taking possession of an institution or other person under his jurisdiction, or within a reasonable time after taking possession of an institution or other person without court order, as provided in this chapter, the commissioner shall cause to be commenced in the appropriate district court, an action to provide the court supervisory jurisdiction to review the actions of the commissioner.
(3) The actions of the commissioner are subject to review of the court. The court has jurisdiction to hear all objections to the actions of the commissioner and may rule upon all motions and actions coming before it. Standing to seek review of any action of the commissioner or any receiver or liquidator appointed by him is limited to persons whose rights, claims, or interests in the institution would be adversely affected by the action.
(4) The authority of the commissioner under this chapter is of an administrative and not judicial receivership. The court may not overrule a determination or decision of the commissioner if it is not arbitrary, capricious, fraudulent, or contrary to law. If the court overrules an action of the commissioner, the matter shall be remanded to the commissioner for a new determination by him, and the new determination shall be subject to court review.
Amended by Chapter 189, 2014 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 2 - Possession of Depository Institution by Commissioner › Section 2 - Action to review the commissioner's actions -- Supervision of actions of commissioner in possession -- Authority of commissioner and court.

Effective 7/1/2024
7-2-2.
Action to review the commissioner's actions -- Supervision of actions of commissioner in possession -- Authority of commissioner and court.
(1) Before taking possession of an institution or other person under the commissioner's jurisdiction, or within a reasonable time after taking possession of an institution or other person without court order, as provided in this chapter, the commissioner shall bring an action in a court with jurisdiction under Title 78A, Judiciary and Judicial Administration, to provide the court with supervisory jurisdiction to review the actions of the commissioner.
(2)
(a) The actions of the commissioner are subject to review of the court.
(b) The court may:
(i) hear all objections to the actions of the commissioner; and
(ii) rule upon all motions and actions coming before the court.
(c) Standing to seek review of any action of the commissioner or any receiver or liquidator appointed by the commissioner is limited to persons whose rights, claims, or interests in the institution would be adversely affected by the action.
(3)
(a) The authority of the commissioner under this chapter is of an administrative and not judicial receivership.
(b) The court may not overrule a determination or decision of the commissioner if it is not arbitrary, capricious, fraudulent, or contrary to law.
(c) If the court overrules an action of the commissioner, the matter shall be remanded to the commissioner for a new determination by the commissioner, and the new determination shall be subject to court review.
Amended by Chapter 401, 2023 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 2 - Possession of Depository Institution by Commissioner › Section 3 - Action for injunction against commissioner in possession -- Procedure -- Appeal.

7-2-3.
Action for injunction against commissioner in possession -- Procedure -- Appeal.
(1)
(a) Whenever any institution or other person of which the commissioner has taken possession considers itself aggrieved by the taking, it may within 10 days after the taking apply to the court to enjoin further proceedings.
(b) After ordering the commissioner to show cause why further proceedings should not be enjoined and after hearing the allegations and proofs of the parties and determining the facts, the court may:
(i) dismiss the application; or
(ii) enjoin the commissioner from further proceedings if the court finds the taking to be arbitrary, capricious, an abuse of discretion, or otherwise contrary to law.
(c) If the court enjoins further proceedings, it shall order the commissioner to surrender possession of the institution in a manner and on terms designated by the court in the public interest.
(d) Notice of any hearings shall be given to persons designated by the court in the manner designated by the court.
(2) An appeal may be taken by the commissioner, a receiver, or liquidator appointed by the commissioner under Section 7-2-9, or by the institution from the judgment of the court as provided by law. An appeal from the judgment does not stay any judgment in favor of the commissioner, or a receiver or liquidator appointed by him. If the appeal is taken by the commissioner, or by a receiver or liquidator appointed by him, no bond is required. If the appeal is taken by the institution, a bond is required as provided by the Utah Rules of Civil Procedure.
Amended by Chapter 200, 1994 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 2 - Possession of Depository Institution by Commissioner › Section 4 - Consent required for institution to resume business.

7-2-4.
Consent required for institution to resume business.
The institution or other person may resume business only with the consent of and upon conditions approved by the commissioner. The commissioner may give his consent to resumption of business if arrangements have been made by the institution or its stockholders, by reorganization or otherwise, to the satisfaction of the commissioner, to pay all creditors of the institution, aside from the stockholders, and to remedy the default or condition for which possession was taken and to pay the expenses of the proceeding.
Amended by Chapter 8, 1983 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 2 - Possession of Depository Institution by Commissioner › Section 5 - Appointment of receiver or assignment for creditors -- Notice required -- Commissioner taking possession.

Superseded 7/1/2024
7-2-5.
Appointment of receiver or assignment for creditors -- Notice required -- Commissioner taking possession.
No receiver may be appointed by any court and no deed or assignment for the benefit of creditors may be filed in any district court within this state for any institution or other person under the jurisdiction of the commissioner, except upon notice to the commissioner, unless because of urgent necessity the court determines that it is necessary to do so to preserve the assets of the institution. The commissioner may within five days after service of the notice upon him take possession of the institution, in which case no further proceedings shall be had upon the application for the appointment of a receiver or under the deed of assignment, or, if a receiver has been appointed or the assignee has entered upon the administration of his trust, the appointment shall be vacated or the assignee shall be removed upon application of the commissioner to the court by which the receiver was appointed or in which the assignment was filed, and the commissioner shall proceed to administer the assets of the institution as provided in this chapter.
Amended by Chapter 8, 1983 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 2 - Possession of Depository Institution by Commissioner › Section 5 - Appointment of receiver or assignment for creditors -- Notice required -- Commissioner taking possession.

Effective 7/1/2024
7-2-5.
Appointment of receiver or assignment for creditors -- Notice required -- Commissioner taking possession.
(1) A receiver may not be appointed by any court and a deed or assignment for the benefit of creditors may not be filed in a court within this state for any institution or other person under the jurisdiction of the commissioner, except upon notice to the commissioner, unless because of urgent necessity the court determines that it is necessary to do so to preserve the assets of the institution.
(2) The commissioner may, within five days after service of the notice upon the commissioner, take possession of the institution, in which case no further proceedings shall be had upon the application for the appointment of a receiver or under the deed of assignment, or, if a receiver has been appointed or the assignee has entered upon the administration of his trust, the appointment shall be vacated or the assignee shall be removed upon application of the commissioner to the court by which the receiver was appointed or in which the assignment was filed, and the commissioner shall proceed to administer the assets of the institution as provided in this chapter.
Amended by Chapter 401, 2023 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 2 - Possession of Depository Institution by Commissioner › Section 8 - Special deputies or agents -- Appointment -- Bond.

7-2-8.
Special deputies or agents -- Appointment -- Bond.
The commissioner may appoint one or more special deputies or agents to assist him in the proceedings. The commissioner may fix the compensation of any agent appointed to assist him. The commissioner may require from agents security for the faithful discharge of their duties. All bonds given under this section shall be deposited with the commissioner and kept in his office.
Enacted by Chapter 8, 1983 General Session
2023 Utah Code › Title 7 - Financial Institutions Act › Chapter 2 - Possession of Depository Institution by Commissioner › Section 10 - Inventory of assets -- Listings of claims -- Report of proceedings -- Filing -- Inspection.

Superseded 7/1/2024
7-2-10.
Inventory of assets -- Listings of claims -- Report of proceedings -- Filing -- Inspection.
As soon as is practical after taking possession of an institution the commissioner, or any receiver or liquidator appointed by him, shall make or cause to be made in duplicate an inventory of its assets, one copy to be filed in his office and one with the clerk of the district court. Upon the expiration of the time fixed for presentation of claims the commissioner, or any receiver or liquidator appointed by him, shall make in duplicate a full and complete list of the claims presented, including and specifying claims disallowed by him, of which one copy shall be filed in his office and one copy in the office of the clerk of the district court. The commissioner, or any receiver or liquidator appointed by him, shall in like manner make and file supplemental lists showing all claims presented after the filing of the first list. The supplemental lists shall be filed every six months and at least 15 days before the declaration of any dividend. At the time of the order for final distribution the commissioner, or any receiver or liquidator appointed by him, shall make a report in duplicate of the proceeding, showing the disposition of the assets and liabilities of the institution, one copy to be filed in his office and one with the clerk of the district court. The accounting, inventory, and lists of claims shall be open at all reasonable times for inspection. Any objection to any report or accounting shall be filed with the clerk of the district court within 30 days after the report of accounting has been filed by the commissioner, or any receiver or liquidator appointed by him, and shall be subject to judicial review only as provided in Section 7-2-9.
Amended by Chapter 378, 2010 General Session