7-18a-207 - Annual renewal of certificate of authority. - Utah Statutes

7-18a-207. Annual renewal of certificate of authority.
(1) A foreign depository institution may renew a certificate of authority, issued underSection 7-18a-202, to transact business in this state through an agency, branch, or representativeoffice in a form prescribed by the commissioner.
(2) The application for renewal shall be submitted to the department no later than 60 daysbefore the expiration of the certificate of authority.
(3) The certificate of authority may be renewed by the commissioner upon adetermination, with or without examination, that the foreign depository institution:
(a) is in a safe and sound condition; and
(b) has complied with applicable provisions of the law.
(4) An application for renewal of certificate of authority shall be accompanied by theannual fee required by Subsection 7-1-401(5).

Amended by Chapter 260, 2000 General Session