Utah Code 63N-16-205. Extensions
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(1) Not later than 30 days before the end of the 12-month regulatory sandbox demonstration period, a sandbox participant may request an extension of the regulatory sandbox demonstration period.
Terms Used In Utah Code 63N-16-205
- demonstration: means to temporarily provide an offering in accordance with the provisions of the regulatory sandbox program described in this chapter. See Utah Code 63N-16-102
- Regulatory relief office: means the Utah Office of Regulatory Relief created in Section
63N-16-103 . See Utah Code 63N-16-102 - Regulatory sandbox: means the General Regulatory Sandbox Program created in Section
63N-16-201 , which allows a person to temporarily demonstrate an offering under a waiver or suspension of one or more state laws or regulations. See Utah Code 63N-16-102 - Sandbox participant: means a person whose application to participate in the regulatory sandbox is approved in accordance with the provisions of this chapter. See Utah Code 63N-16-102
(2) The regulatory relief office shall grant or deny a request for an extension in accordance with Subsection (1) by the end of the 12-month regulatory sandbox testing period.
(3) The regulatory relief office may grant an extension in accordance with this section for not more than 12 months after the end of the initial regulatory sandbox demonstration period.