Section 202 – Board of trustees of the fund — Trust administrator.
Effective 7/1/2021 51-10-202. Board of trustees of the fund — Trust administrator. (1) (a) There is created a board of trustees of the fund composed of the following three members: (i) the state treasurer; (ii) the director of the Division of Finance; and (iii) the director of the Governor’s Office of Planning and Budget or […]
Section 203 – Office of Trust Administrator.
Effective 7/1/2015 51-10-203. Office of Trust Administrator. (1) If the board hires a trust administrator under Subsection 51-10-202(2)(a)(ii), there is created an Office of Trust Administrator. (2) The trust administrator shall administer the office. Enacted by Chapter 319, 2015 General Session
Section 204 – Trust administrator duties.
Effective 7/1/2015 51-10-204. Trust administrator duties. (1) Under the direction of the board, the trust administrator shall: (a) review the documents and decisions highlighting the history of the fund, including: (i) the Nelson report, prepared as part of the Bigman v. Utah Navajo Development Council, Inc. C77-0031; (ii) the November 1991 performance audit of the […]
Section 205 – Expenditures from the fund.
Effective 7/1/2015 51-10-205. Expenditures from the fund. (1) (a) Under the direction of the board, the trust administrator may make expenditures from the fund in accordance with Subsection 51-10-204(2)(e). (b) The board may enter into a cost sharing agreement with one or more governmental entities if the cost sharing agreement is recommended by at least […]
Section 206 – Diné Advisory Committee.
Effective 5/12/2020 51-10-206. Diné Advisory Committee. (1) There is created the Diné Advisory Committee. (2) (a) The governor, with the advice and consent of the Senate, shall appoint nine members to the Diné Advisory Committee. (b) In making an appointment under Subsection (2)(a), the governor shall ensure that the Diné Advisory Committee includes: (i) two […]
Section 201 – Fund created.
Effective 7/1/2015 51-10-201. Fund created. (1) There is created a private-purpose trust fund entitled the “Navajo Trust Fund.” (2) The fund consists of: (a) revenue received by the state that represents the 37-1/2% of the net oil royalties from the Aneth Extension of the Navajo Indian Reservation required by Pub. L. No. 72-403, 47 Stat. […]