7-1-510 - Examination of institutions -- Adoption of rules -- Requiring actions by institutions. - Utah Statutes

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Statutes > Utah > Title-07 > Chapter-01 > 7-1-510

7-1-510. Examination of institutions -- Adoption of rules -- Requiring actions byinstitutions.
If the commissioner finds that it is in the public interest and necessary to protect thedepositors and other customers of a financial institution, he may:
(1) examine the books and records of any financial institution holding company andrequire the company to furnish whatever reports that he considers appropriate to properlysupervise the company's financial institution subsidiaries;
(2) adopt and issue rules consistent with the purposes and provisions of this title as theypertain to financial institution holding companies; and
(3) require a financial institution holding company to take any action he finds reasonableand necessary to protect the interests of depositors, other customers, and creditors of anysubsidiary financial institution, to maintain its solvency or to prevent its failure.

Amended by Chapter 161, 1987 General Session

State Codes and Statutes

Statutes > Utah > Title-07 > Chapter-01 > 7-1-510

7-1-510. Examination of institutions -- Adoption of rules -- Requiring actions byinstitutions.
If the commissioner finds that it is in the public interest and necessary to protect thedepositors and other customers of a financial institution, he may:
(1) examine the books and records of any financial institution holding company andrequire the company to furnish whatever reports that he considers appropriate to properlysupervise the company's financial institution subsidiaries;
(2) adopt and issue rules consistent with the purposes and provisions of this title as theypertain to financial institution holding companies; and
(3) require a financial institution holding company to take any action he finds reasonableand necessary to protect the interests of depositors, other customers, and creditors of anysubsidiary financial institution, to maintain its solvency or to prevent its failure.

Amended by Chapter 161, 1987 General Session

State Codes and Statutes

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State Codes and Statutes

Statutes > Utah > Title-07 > Chapter-01 > 7-1-510

7-1-510. Examination of institutions -- Adoption of rules -- Requiring actions byinstitutions.
If the commissioner finds that it is in the public interest and necessary to protect thedepositors and other customers of a financial institution, he may:
(1) examine the books and records of any financial institution holding company andrequire the company to furnish whatever reports that he considers appropriate to properlysupervise the company's financial institution subsidiaries;
(2) adopt and issue rules consistent with the purposes and provisions of this title as theypertain to financial institution holding companies; and
(3) require a financial institution holding company to take any action he finds reasonableand necessary to protect the interests of depositors, other customers, and creditors of anysubsidiary financial institution, to maintain its solvency or to prevent its failure.

Amended by Chapter 161, 1987 General Session