No. 42161 (5-year Review): Rule R337-8. Accounts for Parties Other Than Individual Members in State-Chartered Credit Unions  

  • DAR File No.: 42161
    Filed: 09/28/2017 08:31:44 AM

    NOTICE OF REVIEW AND STATEMENT OF CONTINUATION

    Concise explanation of the particular statutory provisions under which the rule is enacted and how these provisions authorize or require the rule:

    Subsection 7-1-301(3) authorizes the Commissioner with powers, duties, and responsibilities of all institutions subject to the jurisdiction of the Department of Financial Institutions and he may authorize the activities state-chartered depository institutions may engage in as if they were chartered under the laws of the United States.

    Summary of written comments received during and since the last five-year review of the rule from interested persons supporting or opposing the rule:

    No supporting or opposing written comments have been received by the agency concerning this rule.

    Reasoned justification for continuation of the rule, including reasons why the agency disagrees with comments in opposition to the rule, if any:

    The rule allows state-chartered credit unions to maintain accounts in the name of businesses or entities other than individual members to the same extent as credit unions chartered under the laws of the United States. Therefore, this rule should be continued.

    The full text of this rule may be inspected, during regular business hours, at the Office of Administrative Rules, or at:

    Financial Institutions
    Credit UnionsRoom 201
    324 S STATE ST
    SALT LAKE CITY, UT 84111-2393

    Direct questions regarding this rule to:

    Effective:

    09/28/2017

    Authorized by:

    Edward Leary, Commissioner


Document Information

Effective Date:
9/28/2017
Publication Date:
10/15/2017
Type:
Five-Year Notices of Review and Statements of Continuation
Filed Date:
09/28/2017
Agencies:
Financial Institutions, Credit Unions
Authorized By:
Edward Leary, Commissioner
DAR File No.:
42161
Summary:

No supporting or opposing written comments have been received by the agency concerning this rule.

CodeNo:
R337-8
CodeName:
{48711|R337-8|R337-8. Accounts for Parties Other Than Individual Members in State-Chartered Credit Unions}
Link Address:
Financial InstitutionsCredit UnionsRoom 201 324 S STATE STSALT LAKE CITY, UT 84111-2393
Link Way:

Paul Allred, by phone at 801-538-8854, by FAX at 801-538-8894, or by Internet E-mail at pallred@utah.gov

AdditionalInfo:
More information about a Five-Year Notice of Review and Statement of Continuation is available online. The Portable Document Format (PDF) version of the Bulletin is the official version. The PDF version of this issue is available at https://rules.utah.gov/publicat/bull_pdf/2017/b20171015.pdf. The HTML edition of the Bulletin is a convenience copy. Any discrepancy between the PDF version and HTML version is resolved in favor of the PDF version. For questions regarding the content or ...
Related Chapter/Rule NO.: (1)
R337-8. Accounts for Parties Other Than Individual Members in State-Chartered Credit Unions.