H.B. 192

1

REPEAL OF THRIFTS SETTLEMENT
2 FINANCING PROVISIONS
3 2004 GENERAL SESSION
4 STATE OF UTAH
5 Sponsor: Greg J. Curtis
6
7 LONG TITLE
8 General Description:
9 This bill modifies the Financial Institution title to address thrifts settlement financing.
10 Highlighted Provisions:
11 This bill:
12 . repeals the Thrift Settlement financing chapter.
13 Monies Appropriated in this Bill:
14 None
15 Other Special Clauses:
16 None
17 Utah Code Sections Affected:
18 REPEALS:
19 7-21-1, as enacted by Chapter 4, Laws of Utah 1988, Fourth Special Session
20 7-21-2, as last amended by Chapter 49, Laws of Utah 1995
21 7-21-3, as enacted by Chapter 4, Laws of Utah 1988, Fourth Special Session
22 7-21-4, as enacted by Chapter 4, Laws of Utah 1988, Fourth Special Session
23 7-21-5, as last amended by Chapter 49, Laws of Utah 1995
24 7-21-6, as enacted by Chapter 4, Laws of Utah 1988, Fourth Special Session
25 7-21-7, as enacted by Chapter 4, Laws of Utah 1988, Fourth Special Session
26 7-21-8, as enacted by Chapter 4, Laws of Utah 1988, Fourth Special Session
27 7-21-9, as enacted by Chapter 4, Laws of Utah 1988, Fourth Special Session

28 7-21-10, as enacted by Chapter 4, Laws of Utah 1988, Fourth Special Session
29
30 Be it enacted by the Legislature of the state of Utah:
31 Section 1. Repealer.
32 This bill repeals:
33 Section 7-21-1, Purpose of chapter.
34 Section 7-21-2, Definitions.
35 Section 7-21-3, Conditions for funding settlement.
36 Section 7-21-4, Terms of settlement agreement.
37 Section 7-21-5, Release of claims by depositor class.
38 Section 7-21-6, Distribution agent duties, authorized expenses, and court approval.
39 Section 7-21-7, Thrifts Panel created -- Members named -- Screening process.
40 Section 7-21-8, No payment to depositors opting out.
41 Section 7-21-9, Division of Finance title, receipt and deposit of state share of
42 liquidation proceeds.
43 Section 7-21-10, Conditions for repeal of chapter -- Severability.




Legislative Review Note
as of 12-10-03 1:51 PM

A limited legal review of this legislation raises no obvious constitutional or statutory concerns.

Office of Legislative Research and General Counsel