File No. 35518
This notice was published in the January 1, 2012, issue (Vol. 2012, No. 1) of the Utah State Bulletin.
Financial Institutions, Industrial Loan Corporations
Rule Designating Applicable Federal Law for Industrial Loan Corporations Subject to the Jurisdiction of the Department of Financial Institutions
Five-Year Notice of Review and Statement of Continuation
DAR File No.: 35518
Filed: 12/09/2011 02:24:22 PM
NOTICE OF REVIEW AND STATEMENT OF CONTINUATION
Concise explanation of the particular statutory provisions under which the rule is enacted and how these provisions authorize or require the rule:
The rule designates which one or more federal laws are applicable to a industrial loan corporation subject to the jurisdiction of the department. The rule establishes that designated federal law may only be enforced by the department by taking action permitted under Title 7 and the applicable chapters set forth in Section 7-1-325. The statutory provision states that the ". . . department shall by rule . . . designate which one or more federal laws are applicable to an institution subject to the jurisdiction of the department."
Summary of written comments received during and since the last five-year review of the rule from interested persons supporting or opposing the rule:
No supporting or opposing written comments have been received since the last notice of continuation.
Reasoned justification for continuation of the rule, including reasons why the agency disagrees with comments in opposition to the rule, if any:
Section 7-1-325 requires that the department designate, by rule, which one or more federal laws are applicable to an institution subject to the jurisdiction of the department. Therefore, this rule should be continued.
The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:Financial Institutions
Industrial Loan CorporationsRoom 201
324 S STATE ST
SALT LAKE CITY, UT 84111-2393
Direct questions regarding this rule to:
- Paul Allred at the above address, by phone at 801-538-8854, by FAX at 801-538-8894, or by Internet E-mail at firstname.lastname@example.org
Edward Leary, Commissioner
The Portable Document Format (PDF) version of the Bulletin is the official version. The PDF version of this issue is available at http://www.rules.utah.gov/publicat/bull-pdf/2012/b20120101.pdf. The HTML edition of the Bulletin is a convenience copy. Any discrepancy between the PDF version and HTML version is resolved in favor of the PDF version.
For questions regarding the content or application of this rule, please contact Paul Allred at the above address, by phone at 801-538-8854, by FAX at 801-538-8894, or by Internet E-mail at email@example.com.