No. 31892: R331-21. Rule Governing Establishment of and Participation in Collective Investment Funds by Trust Companies

DAR File No.: 31892
Filed: 08/25/2008, 01:21
Received by: NL

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:

Section 7-5-13 authorizes establishment of collective investment funds for persons permitted to engage in the trust business.

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 authorizes the establishment of and participation in collective investment funds by trust companies subject to the jurisdiction of the Department. There is presently one trust company that must still comply with this rule. Therefore, the rule 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
Administration
324 S STATE ST
SALT LAKE CITY UT 84111-2393

Direct questions regarding this rule to:

Paul Allred at the above address, by phone at 801-538-8854, by FAX at 801-538-8894, or by Internet E-mail at [e-mail]

Authorized by:

Edward Leary, Commissioner