(1) 

Terms Used In Utah Code 51-7-18.3

(a) a primary reporting dealer recognized by the Federal Reserve Bank of New York who is certified by the director as having met the applicable criteria of council rule; or
(b) a broker dealer who:
(i) has and maintains an office and a resident registered principal in the state;
(ii) meets the capital requirements established by council rules;
(iii) meets the requirements for good standing established by council rule; and
(iv) is certified by the director as meeting quality criteria established by council rule. See Utah Code 51-7-3
  • Council: means the State Money Management Council created by Section 51-7-16. See Utah Code 51-7-3
  • Director: means the director of the Utah State Division of Securities of the Department of Commerce. See Utah Code 51-7-3
  • Public treasurer: includes the state treasurer and the official of any state board, commission, institution, department, division, agency, or other similar instrumentality, or of any county, city, school district, charter school, political subdivision, or other public body who has the responsibility for the safekeeping and investment of any public funds. See Utah Code 51-7-3
    • (a)  The council shall provide a list of certified dealers to each public treasurer at least semiannually.

    (b)  The list of certified dealers shall include:

    (i)  the name of each certified dealer; and

    (ii)  the name of each agent authorized by the certified dealer to conduct investment transactions with the public treasurers.

    (2)  In addition to the requirements set forth by rule, in order to become a certified dealer as defined in Section 51-7-3, a dealer shall pay to the director an annual certification fee of $500 due on or before April 30 of each year.

    Amended by Chapter 248, 2004 General Session

      Previous section
    Next section  
     Chapter 7 Contents

    LawServer is used by

    New York Times, IRS, USDA, UCLA, DOT