Utah § 7-1-314 - Examination of institutions by commissioner or supervisor.

Full text of Utah Utah Code § 7-1-314 — Examination of institutions by commissioner or supervisor., with citation guidance and answers to common questions.

§ 7-1-314. Examination of institutions by commissioner or supervisor.

Effective 5/7/2025
7-1-314. Examination of institutions by commissioner or supervisor.

(1)	The commissioner or the responsible supervisor shall visit and examine or cause to be visited and examined every depository institution and such other institutions subject to the jurisdiction of the department as the commissioner considers necessary or advisable.

(2)

At every examination of a depository institution careful inquiry shall be made as to:

(a)	the condition and resources of the institution examined;

(b)	the mode of conducting and managing of its affairs;

(c)	the actions of its directors and officers;

(d)	the investment and disposition of its funds;

(e)	the security offered to depositors and other customers;

(f)	whether or not it is violating any provision of law relating to the institution or the business of the institution examined;

(g)	whether or not it is complying with its articles of incorporation and bylaws; and

(h)	such other matters as the commissioner may prescribe.

(3)	The commissioner may, in the commissioner's discretion, accept examinations of any institution which are made by federal examiners or examiners from other states having jurisdiction over that institution in lieu of any examination required under the laws of this state.

(4)

The nature and extent of examination of institutions or other business entities not classified as depository institutions but otherwise subject to the jurisdiction of the department as provided in this title shall be such as the commissioner may determine to be necessary or appropriate in determining whether or not the business is being conducted in accordance with law and the regulations of the department.

Amended by Chapter 302, 2025 General Session

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

Frequently Asked Questions About Utah § 7-1-314

What does Utah Code § 7-1-314 cover?

Section 7-1-314 ("Examination of institutions by commissioner or supervisor.") 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 § 7-1-314?

A common citation format is "Utah Code § 7-1-314" (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 § 7-1-314 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

Official text of § 7-1-314 at the Utah source

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