Section 402 – Benefits to interested parties of an independent entity.
63E-1-402. Benefits to interested parties of an independent entity. (1) If an independent entity is privatized, the following may not receive any benefit prohibited under Subsection (2): (a) an interested party of the independent entity; (b) an entity in which an interested party holds a business interest; (c) a lobbyist of the independent entity; or […]
Section 403 – Privatization process — Audit.
63E-1-403. Privatization process — Audit. (1) If an independent entity seeks to privatize the independent entity, it shall: (a) submit to the Legislature recommended legislation to: (i) repeal the authorizing statute and revise state law as necessary to terminate its relationship to the state; and (ii) address the value of any interests the state holds […]
Section 404 – Penalties for violation.
Effective 5/4/2022 63E-1-404. Penalties for violation. (1) A person who knowingly violates this part: (a) is guilty of a third degree felony if the combined value of any compensation or assets received by the person as a result of the violation is equal to or greater than $10,000; or (b) is guilty of a class […]