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S.B. 44 Enrolled
This act modifies the Financial Institutions Code to modify the fee paid by certain financial
institutions and to make technical changes.
This act affects sections of Utah Code Annotated 1953 as follows:
AMENDS:
7-1-401, as last amended by Chapter 260, Laws of Utah 2000
Be it enacted by the Legislature of the state of Utah:
Section 1. Section 7-1-401 is amended to read:
7-1-401. Fees payable to commissioner.
(1) [
for an out-of-state depository institution with a branch in Utah, a depository institution under the
jurisdiction of the department shall pay an annual fee:
(a) computed [
depository institution shown [
the depository institution for the calendar year immediately proceeding the date the annual fee is
due under Section 7-1-402 ; and
(b) at the following rates:
[
(A) 65 cents per $1,000; or
(B) $500[
[
[
[
[
[
[
(2) A financial institution with a trust department shall pay a fee determined in accordance
with Subsection (7) for each examination of the trust department by state examiners.
(3) [
a basic fee of $25 instead of the fee required under Subsection (1).
(4) A trust company that is not a depository institution or a subsidiary of a depository
institution holding company shall pay:
(a) an annual fee of $500; and
(b) an additional fee determined in accordance with Subsection (7) for each examination by
state examiners.
(5) [
department that [
(a) an annual fee of $100; and
(b) an additional fee determined in accordance with Subsection (7) for each examination by
state examiners.
(6) [
7-1-703 , 7-1-704 , 7-1-713 , 7-5-3 , or 7-18a-202 shall pay:
(a) a filing fee of $500; and
(b) all reasonable expenses incurred in processing the application.
(7) (a) Per diem assessments for [
rate of $40 per hour:
(i) for each examiner; and
(ii) per hour worked.
(b) For an examination of [
institution located outside of this state, in addition to the per diem assessment under this Subsection
(7), the institution shall pay all reasonable travel, lodging, and other expenses incurred by each
examiner while conducting the examination.
(8) [
shall pay an original registration fee of $300.
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