No. 36876 (5-year Review): Rule R337-8. Accounts for Parties Other Than Individual Members in State-Chartered Credit Unions  

  • DAR File No.: 36876
    Filed: 09/28/2012 08:38:32 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 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 and should be continued.

    The full text of this rule may be inspected, during regular business hours, at the Division 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:

    Authorized by:

    Edward Leary, Commissioner

    Effective:

    09/28/2012


Document Information

Effective Date:
9/28/2012
Publication Date:
10/15/2012
Filed Date:
09/28/2012
Agencies:
Financial Institutions,Credit Unions
Authorized By:
Edward Leary, Commissioner
DAR File No.:
36876
Related Chapter/Rule NO.: (1)
R337-8. Accounts for Parties Other Than Individual Members in State-Chartered Credit Unions.