7-1-1001. Definitions -- Written consent or court order for disclosure by financial institution -- Exception.

346 words·~2 min read·/ut/title-7/chapter-1/7-1-1001

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)As used in this part:

(a)"Account holder" means a person for whom an account is held by a financial institution.

(b)"Governmental entity" means:

(i)the state, including:

(A)a department;

(B)an institution;

(C)a board;

(D)a division;

(E)a bureau;

(F)an office;

(G)a commission;

(H)a committee; or

(I)an elected official; and

(ii)a political subdivision of the state, including:

(A)a county;

(B)a city;

(C)a town;

(D)a school district;

(E)a public transit district;

(F)a redevelopment agency;

(G)a special improvement district; or

(H)a taxing district.

(c)"Nonprotected record" means a record maintained by a financial institution to facilitate the conduct of the financial institution's business regarding a person or account, including:

(i)the existence of an account;

(ii)the opening and closing dates of an account;

(iii)the name under which an account is held; and

(iv)the name, address, and telephone number of an account holder.

(d)"Protected record" means a record that is not defined as a nonprotected record.

(e)"Record" means information that is:

(i)prepared, owned, received, or retained by a financial institution;

(A)inscribed on a tangible medium; or

(B)stored in an electronic or other medium; and

(iii)retrievable in perceivable form.

(2)Except for a governmental entity listed in Subsection 7-1-1006(1) , an individual acting on behalf of a governmental entity may not request, obtain by subpoena, or otherwise obtain information from a state or federally chartered financial institution that constitutes a record reflecting the financial condition of any person without first obtaining:

(a)written permission from all account holders of the account referenced in the record to be examined; or

(b)an order from a court of competent jurisdiction permitting access to the record.

(3)This section does not apply to a review made by the commissioner to determine whether a financial institution is operating in accordance with law.

Amended by Chapter 381 , 2009 General Session