Utah Administrative Code
Topic - Financial Institutions
Title R333 - Banks
Rule R333-8 - Authority for Banks to Issue Subordinated Capital Notes or Debentures
Section R333-8-1 - Authority, Scope, and Purpose
Universal Citation: UT Admin Code R 333-8-1
Current through Bulletin 2024-06, March 15, 2024
(1) This rule is issued pursuant to Subsection 7-1-301(8) and Section 7-3-28.
(2) This rule applies to all commercial banks chartered by the State of Utah which issue convertible or non-convertible subordinated capital notes or debentures.
(3) The purpose of this rule is to establish the criteria and procedures for issuance of subordinated capital notes or debentures and limitations on the total amount of such instruments which may be outstanding in order to protect the bank's depositors and shareholders.
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