Utah Admin. Code R331-17-1 - Authority, Scope, and Purpose
(1)
This rule is issued pursuant to Sections
7-1-301,
7-1-703,
7-1-704
and
7-1-705.
(2) This rule applies to all applicants to
the department for change of control, acquisition of, merger, or consolidation
with any financial institution chartered by the state.
(3) Public disclosure by newspaper
publication of applications to the department for change of control is
necessary to increase the amount of timely and useful information available to
the public thereby increasing the department's sources of information in
connection with these applications and enhancing its ability to prevent
dishonest or unqualified persons from acquiring control of state chartered
financial institutions.
Notes
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