DAR File No. 41726
This notice was published in the July 1, 2017, issue (Vol. 2017, No. 13) of the Utah State Bulletin.
Commerce, Securities
Rule R164-26
Consent to Service of Process
Five-Year Notice of Review and Statement of Continuation
DAR File No.: 41726
Filed: 06/02/2017 08:29:38 AM
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 61-1-26(7) of the Utah Uniform Securities Act requires that every applicant for registration and every issuer shall consent to have the division or its director be its attorney to receive service of any lawful, noncriminal process. Section 61-1-24 authorizes the division to make rules necessary to carry out the provisions of the Act.
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 comments have been received.
Reasoned justification for continuation of the rule, including reasons why the agency disagrees with comments in opposition to the rule, if any:
The Act allows the division to accept service of process for individuals or companies registered under the Act. This rule outlines the process. Therefore, this rule should be continued. For the service to be effective, the plaintiff in the action (whether the division or a private party) must send a copy of the process, by registered mail, to the defendant's or respondent's last address filed with the division. This creates an obligation for applicants and issuers to provide the division with current address information.
The full text of this rule may be inspected, during regular business hours, at the Office of Administrative Rules, or at:
CommerceSecurities
HEBER M WELLS BLDG
160 E 300 S
SALT LAKE CITY, UT 84111-2316
Direct questions regarding this rule to:
- Benjamin Johnson at the above address, by phone at 801-530-6134, by FAX at 801-530-6980, or by Internet E-mail at bnjohnson@utah.gov
Effective:
06/02/2017
Authorized by:
Keith Woodwell, Director
Additional Information
More information about a Five-Year Notice of Review and Statement of Continuation is available online.
The Portable Document Format (PDF) version of the Bulletin is the official version. The PDF version of this issue is available at https://rules.utah.gov/publicat/bull_pdf/2017/b20170701.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 Benjamin Johnson at the above address, by phone at 801-530-6134, by FAX at 801-530-6980, or by Internet E-mail at bnjohnson@utah.gov. For questions about the rulemaking process, please contact the Office of Administrative Rules.