§ 7-16a-201 Authority to operate an automated teller machine
§ 7-16a-202 Powers of depository institutions operating automated teller machines — Fees or surcharges
§ 7-16a-203 Contractual waiver of Uniform Commercial Code provisions
§ 7-16a-204 Department notification requirements

Terms Used In Utah Code > Title 7 > Chapter 16a > Part 2 - Authority, Powers, Contractual Waiver, and Notification Requirements

  • Automated teller machine: means an electronic information processing device that:
    (a) is readily accessible to the general public; and
    (b) on behalf of an issuer:
    (i) dispenses currency or coin; or
    (ii) accepts deposits or payments. See Utah Code 7-16a-102
  • Bank: means a person authorized under the laws of this state, another state, or the United States to accept deposits from the public. See Utah Code 7-1-103
  • Banking business: means the offering of deposit accounts to the public and the conduct of such other business activities as may be authorized by this title. See Utah Code 7-1-103
  • Branch: means a place of business of a financial institution, other than its main office, at which deposits are received and paid. See Utah Code 7-1-103
  • Commissioner: means the Commissioner of Financial Institutions. See Utah Code 7-1-103
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Credit union: means a cooperative, nonprofit association incorporated under:
    (a) Chapter 9, Utah Credit Union Act; or
    (b) 12 U. See Utah Code 7-1-103
  • Customer: means a user of a device for access. See Utah Code 7-16a-102
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • 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
  • Depository institution holding company: means :
    (i) a person other than an individual that:
    (A) has control over a depository institution; or
    (B) becomes a holding company of a depository institution under Section 7-1-703; or
    (ii) a person other than an individual that the commissioner finds, after considering the specific circumstances, is exercising or is capable of exercising a controlling influence over a depository institution by means other than those specifically described in this section. See Utah Code 7-1-103
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Industrial bank: means a corporation or limited liability company conducting the business of an industrial bank under Chapter 8, Industrial Banks. See Utah Code 7-1-103
  • 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
  • Issuer: means :
    (a) a depository institution that issues a device for access, whether or not the depository institution is an operator; or
    (b) a state or federal governmental agency that issues a device for access that allows a person to receive benefits from or through the state or federal governmental agency. See Utah Code 7-16a-102
  • 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.
  • Operator: means an institution that:
    (a) 
    (i) is a depository institution;
    (ii) is a depository institution holding company; or
    (iii) is an institution directly or indirectly owned or controlled by one or more depository institutions or depository institution holding companies; and
    (b) owns or contracts with an owner of an automated teller machine to operate the automated teller machine. See Utah Code 7-16a-102
  • 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
  • Point-of-sale terminal: means an electronic information processing device controlled by or accessible to a merchant or other provider of goods or services that authorizes:
    (a) in payment for goods or services, a debit or credit to a customer's account at:
    (i) a depository institution; or
    (ii) a state or federal governmental agency; and
    (b) the merchant or other provider of goods or services to dispense currency or coin to a customer. See Utah Code 7-16a-102
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Savings and loan association: means :
    (a) a federal savings and loan association; and
    (b) an out-of-state savings and loan association. See Utah Code 7-1-103
  • 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
  • Statute: A law passed by a legislature.
  • Subsidiary: means a business entity under the control of an institution. See Utah Code 7-1-103
  • United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5