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Utah Code § 7-1-510

Examination of institutions -- Adoption of rules -- Requiring actions by institutions

Amended by Chapter 302, 2025 General Session

If the commissioner finds that it is in the public interest and necessary to protect the depositors and other customers of a financial institution, the commissioner may:

(1) examine the books and records of any financial institution holding company and require the company to furnish whatever reports that the commissioner considers appropriate to properly supervise the company's financial institution subsidiaries;

(2) adopt and issue rules consistent with the purposes and provisions of this title as they pertain to financial institution holding companies; and

(3) require a financial institution holding company to take any action the commissioner finds reasonable and necessary to protect the interests of depositors, other customers, and creditors of any subsidiary financial institution, to maintain its solvency or to prevent its failure.

Official source: Utah State Legislature. Reproduced from public-domain Utah statutes; confirm against the official source for the current text. Not legal advice.