Utah Admin. Code R333-8-1 - Authority, Scope, and Purpose
(1)
This rule is issued pursuant to Subsection
7-1-301(8) and Section
7-3-28.
(2) This rule applies to all commercial banks
chartered by the State of Utah which issue convertible or non-convertible
subordinated capital notes or debentures.
(3) The purpose of this rule is to establish
the criteria and procedures for issuance of subordinated capital notes or
debentures and limitations on the total amount of such instruments which may be
outstanding in order to protect the bank's depositors and
shareholders.
Notes
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