If a foreign depository institution authorized by this state to transact business in this state through an agency, branch, or representative office amends its articles of incorporation, the institution shall file with the department a copy and an accurate English translation of the amendment authenticated by the appropriate officer of the chartering country.
Terms Used In Utah Code 7-18a-204
Agency: means a place of business of a foreign depository institution located in this state that is authorized to exercise the powers permitted in Section 7-18a-301. See Utah Code 7-18a-102
Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
Branch: when used in reference to a foreign depository institution, means a place of business of a foreign depository institution located in this state that is authorized to exercise the powers permitted in Section 7-18a-301. See Utah Code 7-18a-102
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
Foreign depository institution: means a depository institution chartered or authorized to transact business by a foreign government. See Utah Code 7-1-103
Representative office: means a place of business of a foreign depository institution located in this state that is authorized to exercise powers permitted in Section 7-18a-301. See Utah Code 7-18a-102
State: means , unless the context demands otherwise:
Without obtaining an amended certificate of authority under Section 7-18a-205, the filing of the amendment may not:
(a)
enlarge or alter the purpose for which the foreign depository institution is authorized to transact business in this state;
(b)
authorize the foreign depository institution to transact business in this state under any name other than the name set forth in the certificate of authority issued by the department; or
(c)
extend the duration of the foreign depository institution’s corporate existence.
