Financial Institutions, Administration

Rule R331-22

Rule Governing Reimbursement of Costs of Financial Institutions for Production of Records

Five-Year Notice of Review and Statement of Continuation

DAR File No.: 36533
Filed: 07/20/2012 02:59:01 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:

Subsection 7-1-301(6) and Section 7-1-1004 expressly authorize the Commissioner of Financial Institutions to promulgate rules establishing rates and conditions under which financial institutions that supply information to requesting agencies may seek reimbursement of costs.

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:

No other rule establishes cost-reimbursement guidelines for financial institutions that provide information to requesting agencies. Section 7-1-1004 requires the Commissioner to have a rule establishing the cost-reimbursement guidelines. 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:

07/20/2012