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Utah Code Title 7. Financial Institutions Act § 7-1-201. Creation of department--Organization

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

(1) There is created the Department of Financial Institutions that is responsible for the execution of the laws of this state relating to a financial institution or other person subject to this title, and relating to the businesses that the financial institution or other person conducts.

(2) The department organization includes:

(a) the commissioner of financial institutions, who shall be the chief executive officer of the department;

(b) the Board of Financial Institutions;

(c) the chief examiner;

(d) the deputy commissioner;

(e) the supervisor of banks;

(f) the supervisor of industrial banks;

(g) the supervisor of credit unions;

(h) the supervisor of money services businesses;

(i) the supervisor of holding companies; and

(j) other supervisors, examiners, and personnel as may be required to carry out the duties, powers, and responsibilities of the department.

(3) A power or duty of the commissioner under this title may be exercised by the deputy commissioner or a supervisor described in Subsection (2) if the commissioner delegates in writing the authority to exercise the power or duty to the deputy commissioner or supervisor.

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Cite this article: FindLaw.com - Utah Code Title 7. Financial Institutions Act § 7-1-201. Creation of department--Organization - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-7-financial-institutions-act/ut-code-sect-7-1-201/

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