Utah Code 63N-16-403. Registry application — Certificate — Renewal — Removal — Notice
Current as of: 2024 | Check for updates
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(1)
Terms Used In Utah Code 63N-16-403
- Applicant: means a person that applies to participate in the regulatory sandbox. See Utah Code 63N-16-102
- Regulatory relief office: means the Utah Office of Regulatory Relief created in Section
63N-16-103 . See Utah Code 63N-16-102 - State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
- Writing: includes :(48)(a) printing;(48)(b) handwriting; and(48)(c) information stored in an electronic or other medium if the information is retrievable in a perceivable format. See Utah Code 68-3-12.5(1)(a) Subject to Subsection (1)(b), an applicant for placement on the registry shall provide to the regulatory relief office:(1)(a)(i) an application in a form prescribed by the regulatory relief office; and(1)(a)(ii) a fee established by the regulatory relief office in accordance with Section 63J-1-504.(1)(b) The application shall include:(1)(b)(i) a place for the name of the applicant, including any trade name used by the applicant in the conduct of the applicant’s business;(1)(b)(ii) a place for a description of the activities conducted by the applicant in the state;(1)(b)(iii) a place for the applicant to list the applicant’s:(1)(b)(iii)(A) authorized agents in the state, if any; and(1)(b)(iii)(B) website URL;(1)(b)(iv) a description of general noncustodial blockchain company activities;(1)(b)(v) a place for the applicant to acknowledge that the applicant is a noncustodial blockchain company; and(1)(b)(vi) a statement notifying the applicant that the applicant may be removed from the registry if the applicant:(1)(b)(vi)(A) ceases to operate as a noncustodial blockchain company; or(1)(b)(vi)(B) engages in unlawful activity.
(2)
(2)(a) Upon receipt of the application and fee described in Subsection (1), the regulatory relief office shall:
(2)(a)(i) place the applicant on the registry; and
(2)(a)(ii) issue a certificate of registration to the applicant.
(2)(b) A noncustodial blockchain company’s registration expires one year after the day on which the noncustodial blockchain company is placed on the registry.
(2)(c) A noncustodial blockchain company may renew the noncustodial blockchain company’s registration by providing to the regulatory relief office:
(2)(c)(i) a renewal application in a form prescribed by the regulatory relief office; and
(2)(c)(ii) a renewal fee established by the regulatory relief office in accordance with Section 63J-1-504.
(3) A registered noncustodial blockchain company:
(3)(a) shall immediately provide written notice to the regulatory relief office upon ceasing to operate as a noncustodial blockchain company; and
(3)(b) may request removal from the registry in writing.
(4) The regulatory relief office shall remove a registered noncustodial blockchain company from the registry if:
(4)(a) the noncustodial blockchain company’s registration expires without renewal;
(4)(b) the noncustodial blockchain company provides the notice or request described in Subsection (3); or
(4)(c) the regulatory relief office knows or has reason to know the noncustodial blockchain company is engaging in unlawful activity.