Utah Code 7-18a-205. Amended certificate of authority to establish an agency, branch, or representative office

(1)

A foreign depository institution authorized by this state to transact business in this state through an agency, branch, or representative office shall secure an amended certificate of authority if it:

Terms Used In Utah Code 7-18a-205

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
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
Commissioner: means the Commissioner of Financial Institutions. See Utah Code 7-1-103
Contract: A legal written agreement that becomes binding when signed.
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:

(a)

a state;

(b)	the District of Columbia; or

(c)	the territories of the United States. See Utah Code 7-1-103
(a)	changes its corporate name;

(b)	changes the duration of its corporate existence; or

(c)	desires to expand or contract the purposes set forth in the foreign depository institution‘s prior application for certificate of authority.

(2)	An application for an amended certificate of authority shall be filed with the department in a form prescribed by the commissioner.

Enacted by Chapter 63, 1996 General Session

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