Section 304 – Board meetings — Closed meetings.
Effective 5/5/2021 53D-1-304. Board meetings — Closed meetings. (1) The board shall hold at least four meetings per year to conduct business. (2) The board chair or two board members: (a) may call a board meeting; and (b) if calling a board meeting, shall provide as much advance notice as is reasonable under the circumstances […]
Section 401 – Appointment of director — Qualifications — Nature of employment — Removal by petition.
Effective 7/1/2018 53D-1-401. Appointment of director — Qualifications — Nature of employment — Removal by petition. (1) The office shall be managed by a director. (2) If there is a vacancy in the director position, the board shall appoint an individual as director. (3) The board shall ensure that an individual appointed as director possesses: […]
Section 402 – Director duties and responsibilities.
Effective 7/1/2018 53D-1-402. Director duties and responsibilities. (1) The director has broad authority to manage the office to fulfill its purposes, consistent with the enabling act, the Utah Constitution, state law, and board policies. (2) The director shall: (a) before assuming the duties of director, take an oath that includes the following: “I solemnly swear […]
Section 403 – Reports.
Effective 7/1/2018 53D-1-403. Reports. (1) At least annually, the director shall report in person to the Legislative Management Committee, the governor, and the advocacy office, concerning the office’s investments, performance, estimated distributions, and other activities. (2) The director shall report to the board concerning the work of the director and the investment activities and other […]
Section 201 – School and Institutional Trust Fund Office — Status — Duties.
Effective 7/1/2014 53D-1-201. School and Institutional Trust Fund Office — Status — Duties. (1) There is created within state government the School and Institutional Trust Fund Office. (2) The office is an independent state agency within the executive branch and is not a division of any other executive branch department. (3) The office shall manage […]
Section 202 – Access to office records and personnel.
Effective 7/1/2018 53D-1-202. Access to office records and personnel. (1) The office shall provide board members and the advocacy office director access to all office records and personnel as necessary for board members and the advocacy office director to fulfill their responsibilities to ensure that the office is in full compliance with applicable law and […]
Section 203 – Funding of office operations.
Effective 5/14/2019 53D-1-203. Funding of office operations. (1) As used in this section, “trust fund earnings” includes any of the following that is in excess of the trust fund corpus: (a) realized or unrealized gains; (b) interest; (c) dividends; (d) other income; or (e) other sources of revenue. (2) There is created an enterprise fund […]
Section 301 – Board of trustees — Creation — Membership.
Effective 5/12/2015 53D-1-301. Board of trustees — Creation — Membership. (1) There is created a School and Institutional Trust Fund Board of Trustees. (2) The board consists of: (a) the state treasurer; and (b) four additional members who are appointed by the state treasurer on a nonpartisan basis from a list of at least two […]
Section 302 – Board chair and vice chair — Quorum.
Effective 7/1/2014 53D-1-302. Board chair and vice chair — Quorum. (1) (a) The state treasurer is the chair of the board. (b) The chair shall faithfully represent the will of the board to the extent the board’s will is consistent with state law. (2) (a) The board shall annually select a vice chair from its […]
Section 103 – Application of other law.
Effective 7/1/2021 53D-1-103. Application of other law. (1) The office, board, and nominating committee are subject to: (a)Title 52, Chapter 4, Open and Public Meetings Act; and (b) Section 67-3-12. (2) Subject to Subsection 63E-1-304(2), the office may participate in coverage under the Risk Management Fund, created in Section 63A-4-201. (3) The office and board […]