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

(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;

(ii)

(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