Utah Statutes
§ 7-25-407 — Required deposits.
If the commissioner finds any reasonable cause to believe that a licensee is in an unsafe or unsound condition or is unwilling or unable to pay its payment instruments when they come due, it may require the licensee to deposit funds in a financial institution acceptable to the commissioner in such amounts, for such period, and upon such conditions as the commissioner may specify, and may prohibit the licensee from issuing payment instruments for sale in Utah in an aggregate unpaid amount exceeding the amount of any such required deposit or the amount actually deposited pursuant to such a requirement, whichever is less.
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Utah § 7-25-407 (Required deposits.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Enacted by Chapter 284, 2015 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.