Utah Statutes
§ 7-1-709 — Branches -- Discontinuance of operation.
Utah·Title 7 Financial Institutions Act·Ch. 7-1 General Provisions·Part 7-1-7 Authorization Required to Conduct Business
(1)A Utah depository institution or out-of-state depository institution authorized to do business in this state may discontinue operation of a branch upon resolution of its board of directors.
(2)Upon adopting the resolution, the institution shall file an application with the commissioner specifying:
(2)(a) the location of the branch to be discontinued;
(2)(b) the date of the proposed discontinuance;
(2)(c) the reasons for closing the branch; and
(2)(d) the extent to which the public need and convenience or service to members would still be adequately met.
(3)(3)(a) Upon filing its application with the commissioner, the institution shall publish notice of the discontinuance:
(3)(a)(i) in a newspaper serving the area once a week for two consecutive weeks; and
(3)(a)(ii) as required by S
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Legislative History
Amended by Chapter 388, 2009 General Session
Nearby Sections
15
§ 7-1-1001
Definitions -- Written consent or court order for disclosure by financial institution -- Exception.§ 7-1-1005
Admissibility of information restricted.§ 7-1-1007
Liability of financial institutions.§ 7-1-101
Title.§ 7-1-103
Definitions.§ 7-1-103.5
Control.