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Utah Code Title 63N. Economic Opportunity Act § 63N-16-403. Registry application--Certificate--Renewal--Removal--Notice

Current as of January 01, 2025 | Updated by Findlaw Staff

(1)(a) Subject to Subsection (1)(b), an applicant for placement on the registry shall provide to the regulatory relief office:

(i) an application in a form prescribed by the regulatory relief office; and

(ii) a fee established by the regulatory relief office in accordance with Section 63J-1-504.

(b) The application shall include:

(i) a place for the name of the applicant, including any trade name used by the applicant in the conduct of the applicant's business;

(ii) a place for a description of the activities conducted by the applicant in the state;

(iii) a place for the applicant to list the applicant's:

(A) authorized agents in the state, if any; and

(B) website URL;

(iv) a description of general noncustodial blockchain company activities;

(v) a place for the applicant to acknowledge that the applicant is a noncustodial blockchain company; and

(vi) a statement notifying the applicant that the applicant may be removed from the registry if the applicant:

(A) ceases to operate as a noncustodial blockchain company; or

(B) engages in unlawful activity.

(2)(a) Upon receipt of the application and fee described in Subsection (1), the regulatory relief office shall:

(i) place the applicant on the registry; and

(ii) issue a certificate of registration to the applicant.

(b) A noncustodial blockchain company's registration expires one year after the day on which the noncustodial blockchain company is placed on the registry.

(c) A noncustodial blockchain company may renew the noncustodial blockchain company's registration by providing to the regulatory relief office:

(i) a renewal application in a form prescribed by the regulatory relief office; and

(ii) a renewal fee established by the regulatory relief office in accordance with Section 63J-1-504.

(3) A registered noncustodial blockchain company:

(a) shall immediately provide written notice to the regulatory relief office upon ceasing to operate as a noncustodial blockchain company; and

(b) may request removal from the registry in writing.

(4) The regulatory relief office shall remove a registered noncustodial blockchain company from the registry if:

(a) the noncustodial blockchain company's registration expires without renewal;

(b) the noncustodial blockchain company provides the notice or request described in Subsection (3); or

(c) the regulatory relief office knows or has reason to know the noncustodial blockchain company is engaging in unlawful activity.

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Cite this article: FindLaw.com - Utah Code Title 63N. Economic Opportunity Act § 63N-16-403. Registry application--Certificate--Renewal--Removal--Notice - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-63n-economic-opportunity-act/ut-code-sect-63n-16-403/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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