Utah Code 7-1-402. Time for payment of fees — Schedule of additional fees — Revocation of permit or license for failure to pay fees

(1)

All financial institutions or other persons under the jurisdiction of the department shall pay to the commissioner for the fiscal year beginning July 1, 1987, and annually thereafter, the fees, charges, and assessments for the costs of supervision, examination, and administration of the department and for processing all applications and notices as required under this title.

Terms Used In Utah Code 7-1-402

Commissioner: means the Commissioner of Financial Institutions. See Utah Code 7-1-103
Department: means the Department of Financial Institutions. See Utah Code 7-1-103
Financial institution: means an institution subject to the jurisdiction of the department because of this title. See Utah Code 7-1-103
Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
Institution: means :

(a)	a corporation;

(b)	a limited liability company;

(c)	a partnership;

(d)

a trust;

(e)	an association;

(f)	a joint venture;

(g)

a pool;

(h)	a syndicate;

(i)	an unincorporated organization; or

(j)

any form of business entity. 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.

Person: means :

(a)	an individual;

(b)	a corporation;

(c)	a limited liability company;

(d)	a partnership;

(e)

a trust;

(f)	an association;

(g)	a joint venture;

(h)

a pool;

(i)	a syndicate;

(j)	a sole proprietorship;

(k)	an unincorporated organization; or

(l)	any form of business entity. See Utah Code 7-1-103
(2)	All per diem and other examination fees shall be paid promptly upon order of the commissioner after completion of an examination. All other fees, unless otherwise provided, shall be assessed on July 1 and shall be payable to the commissioner on or before July 15.

(3)	Any financial institution or other person subject to the jurisdiction of the department as of July 1 of each year shall pay the total fee for the fiscal year of July 1 through June 30.

(4)	The commissioner may adopt a schedule of fees in addition to those provided in this section that may be assessed for services rendered by the department. These fees shall be reasonable and fair and shall reflect the cost of the services provided.

(5)	The fees and assessments established in this section shall be in addition to any other fee or tax imposed by law.

(6)	The commissioner may revoke the license or permit of any institution under the jurisdiction of the department for failure to pay the fees, charges, or assessments as provided in this title.

Amended by Chapter 133, 1991 General Session

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