Utah § 7-1-709 Branches -- Discontinuance of operation.

Utah Statutes

§ 7-1-709 — Branches -- Discontinuance of operation.

Utah § 7-1-709

Title 7Financial Institutions Act

Ch. 7-1General Provisions

Part 7-1-7Authorization Required to Conduct Business

This text of Utah § 7-1-709 (Branches -- Discontinuance of operation.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 7-1-709 (2026).

Text

(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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(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 Section 45-1-101 for two weeks.
(3)(b) The commissioner may approve the application after a reasonable comment period following publication.
(4) An out-of-state depository institution with a branch in Utah is not subject to the requirements of this section if the branch to be closed is located outside of Utah.