Current as of May 05, 2022 | Updated by FindLaw Staff
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(1) As used in this part:
(a) “Account holder” means a person for whom an account is held by a financial institution.
(b) “Governmental entity” means:
(i) the state, including:
(A) a department;
(B) an institution;
(C) a board;
(D) a division;
(E) a bureau;
(F) an office;
(G) a commission;
(H) a committee; or
(I) an elected official; and
(ii) a political subdivision of the state, including:
(A) a county;
(B) a city;
(C) a town;
(D) a school district;
(E) a public transit district;
(F) a redevelopment agency;
(G) a special improvement district; or
(H) a taxing district.
(c) “Nonprotected record” means a record maintained by a financial institution to facilitate the conduct of the financial institution's business regarding a person or account, including:
(i) the existence of an account;
(ii) the opening and closing dates of an account;
(iii) the name under which an account is held; and
(iv) the name, address, and telephone number of an account holder.
(d) “Protected record” means a record that is not defined as a nonprotected record.
(e) “Record” means information that is:
(i) prepared, owned, received, or retained by a financial institution;
(ii)(A) inscribed on a tangible medium; or
(B) stored in an electronic or other medium; and
(iii) retrievable in perceivable form.
(2) Except for a governmental entity listed in Subsection 7-1-1006(1), an individual acting on behalf of a governmental entity may not request, obtain by subpoena, or otherwise obtain information from a state or federally chartered financial institution that constitutes a record reflecting the financial condition of any person without first obtaining:
(a) written permission from all account holders of the account referenced in the record to be examined; or
(b) an order from a court of competent jurisdiction permitting access to the record.
(3) This section does not apply to a review made by the commissioner to determine whether a financial institution is operating in accordance with law.
Cite this article: FindLaw.com - Utah Code Title 7. Financial Institutions Act § 7-1-1001. Definitions--Written consent or court order for disclosure by financial institution--Exception - last updated May 05, 2022 | https://codes.findlaw.com/ut/title-7-financial-institutions-act/ut-code-sect-7-1-1001.html
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 or via Westlaw before relying on it for your legal needs.
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