Department: means the Department of Financial Institutions. See Utah Code 7-1-103
Depository institution: means a bank, savings and loan association, savings bank, industrial bank, credit union, or other institution that:
(a)
holds or receives deposits, savings, or share accounts;
(b)
issues certificates of deposit; or
(c)
provides to its customers other depository accounts that are subject to withdrawal by checks, drafts, or other instruments or by electronic means to effect third party payments. See Utah Code 7-1-103
Institution subject to the jurisdiction of the department: means an institution or other person described in Section 7-1-501. See Utah Code 7-1-103
Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
State: means , unless the context demands otherwise:
United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
(a)
a statute passed by the Congress of the United States; or
(b)
a final regulation:
(i)
adopted by an administrative agency of the United States government; and
(ii)
published in the code of federal regulations or the federal register.
(2)
(a)
An institution subject to the jurisdiction of the department violates this title if the institution violates a federal law:
(i)
that is applicable to the institution; and
(ii)
pursuant to the terms of the federal law in effect on the day the institution violates the federal law.
(b)
The department shall by rule, made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, and consistent with this title, designate which one or more federal laws are applicable to an institution subject to the jurisdiction of the department.
(3)
Except for criminal penalties, the department may enforce a violation described in Subsection (2) by taking any action:
