Financial Institutions, Banks

Rule R333-13

Rule Designating Applicable Federal Law for Banks Subject to the Jurisdiction of the Department of Financial Institutions

Five-Year Notice of Review and Statement of Continuation

DAR File No.: 35517
Filed: 12/09/2011 02:21:05 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 bank 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:

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 [email protected]

Authorized by:

Edward Leary, Commissioner

Effective:

12/09/2011