7-2-2 - Jurisdiction of district court -- Supervision of actions of commissioner in possession -- Authority of commissioner and court. - Utah Statutes

7-2-2. Jurisdiction of district court -- Supervision of actions of commissioner inpossession -- Authority of commissioner and court.
(1) The district court for the county in which the principal office of the institution or otherperson is situated has jurisdiction in the liquidation or reorganization of the institution or otherperson of which the commissioner has taken possession under this chapter or Chapter 19. As usedin this chapter, "court" means the court given jurisdiction by this provision.
(2) Before taking possession of an institution or other person under his jurisdiction, orwithin a reasonable time after taking possession of an institution or other person without courtorder, as provided in this chapter, the commissioner shall cause to be commenced in theappropriate district court, an action to provide the court supervisory jurisdiction to review theactions of the commissioner.
(3) The actions of the commissioner are subject to review of the court. The court hasjurisdiction to hear all objections to the actions of the commissioner and may rule upon allmotions and actions coming before it. Standing to seek review of any action of the commissioneror any receiver or liquidator appointed by him is limited to persons whose rights, claims, orinterests in the institution would be adversely affected by the action.
(4) The authority of the commissioner under this chapter is of an administrative and notjudicial receivership. The court may not overrule a determination or decision of thecommissioner if it is not arbitrary, capricious, fraudulent, or contrary to law. If the courtoverrules an action of the commissioner, the matter shall be remanded to the commissioner for anew determination by him, and the new determination shall be subject to court review.

Amended by Chapter 200, 1994 General Session