Utah § 7-1-709 - Branches -- Discontinuance of operation.

Full text of Utah Utah Code § 7-1-709 — Branches -- Discontinuance of operation., with citation guidance and answers to common questions.

§ 7-1-709. Branches -- Discontinuance of operation.

7-1-709.  Branches -- Discontinuance of operation.
(1) A Utah depository institution or out-of-state depository institution authorized to do business in this state may discontinue operation of a branch upon resolution of its board of directors.
(2) Upon adopting the resolution, the institution shall file an application with the commissioner specifying:
(a) the location of the branch to be discontinued;
(b) the date of the proposed discontinuance;
(c) the reasons for closing the branch; and
(d) the extent to which the public need and convenience or service to members would still be adequately met.
(3)
(a) Upon filing its application with the commissioner, the institution shall publish notice of the discontinuance:
(i) in a newspaper serving the area once a week for two consecutive weeks; and
(ii) as required by Section 45-1-101 for two weeks.
(b) The commissioner may approve the application after a reasonable comment period following publication.
(4) An out-of-state depository institution with a branch in Utah is not subject to the requirements of this section if the branch to be closed is located outside of Utah.


Amended by Chapter 388, 2009 General Session

Source: official Utah text · Last verified 2026-08-27

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Frequently Asked Questions About Utah § 7-1-709

What does Utah Code § 7-1-709 cover?

Section 7-1-709 ("Branches -- Discontinuance of operation.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Utah § 7-1-709?

A common citation format is "Utah Code § 7-1-709" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Utah law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.

How does Utah § 7-1-709 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Utah.