Utah Code 7-1-1004. Reimbursement of financial institution for costs of obtaining information
Current as of: 2024 | Check for updates
|
Other versions
(1) Except as provided in Subsection (2), a financial institution is entitled to reimbursement by a governmental entity seeking information, for costs reasonably and directly incurred in searching for, reproducing, or transporting a record required to be produced if the financial institution produces the record:
Terms Used In Utah Code 7-1-1004
- Commissioner: means the Commissioner of Financial Institutions. See Utah Code 7-1-103
- Depository institution: means a bank, savings and loan association, savings bank, industrial bank, credit union, or other institution that:(8)(a) holds or receives deposits, savings, or share accounts;(8)(b) issues certificates of deposit; or(8)(c) provides to its customers other depository accounts that are subject to withdrawal by checks, drafts, or other instruments or by electronic means to effect third party payments. See Utah Code 7-1-103
- Financial institution: means an institution subject to the jurisdiction of the department because of this title. See Utah Code 7-1-103
- Governmental entity: means :
(1)(b)(i) the state, including:(1)(b)(i)(A) a department;(1)(b)(i)(B) an institution;(1)(b)(i)(C) a board;(1)(b)(i)(D) a division;(1)(b)(i)(E) a bureau;(1)(b)(i)(F) an office;(1)(b)(i)(G) a commission;(1)(b)(i)(H) a committee; or(1)(b)(i)(I) an elected official; and(1)(b)(ii) a political subdivision of the state, including:(1)(b)(ii)(A) a county;(1)(b)(ii)(B) a city;(1)(b)(ii)(C) a town;(1)(b)(ii)(D) a school district;(1)(b)(ii)(E) a public transit district;(1)(b)(ii)(F) a redevelopment agency;(1)(b)(ii)(G) a special improvement district; or(1)(b)(ii)(H) a taxing district. See Utah Code 7-1-1001- Institution: means :
(19)(a) a corporation;(19)(b) a limited liability company;(19)(c) a partnership;(19)(d) a trust;(19)(e) an association;(19)(f) a joint venture;(19)(g) a pool;(19)(h) a syndicate;(19)(i) an unincorporated organization; or(19)(j) any form of business entity. See Utah Code 7-1-103- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Record: means information that is:
(1)(e)(i) prepared, owned, received, or retained by a financial institution;(1)(e)(ii)(1)(e)(ii)(A) inscribed on a tangible medium; or(1)(e)(ii)(B) stored in an electronic or other medium; and(1)(e)(iii) retrievable in perceivable form. See Utah Code 7-1-1001- State: means , unless the context demands otherwise:
(33)(a) a state;(33)(b) the District of Columbia; or(33)(c) the territories of the United States. See Utah Code 7-1-103(1)(a) pursuant to written permission by all account holders of the account referenced in the record in accordance with:(1)(a)(i) Subsection 7-1-1001(2)(a); or(1)(a)(ii) Subsection 7-1-1006(2)(b)(iii);(1)(b) in compliance with an order obtained under this part; or(1)(c) in compliance with an order of a court or administrative body of competent jurisdiction.(2) A depository institution is not allowed reimbursement under this section by the State Tax Commission for information the depository institution provides or action the depository institution takes in accordance with Title 59, Chapter 1, Part 17, Depository Institution Data Match System and Levy Act.(3) The commissioner shall by rule establish the rates and conditions under which a governmental entity shall reimburse a financial institution.