Section 304 – Limitations on risk management coverage.
Effective 5/5/2021 63E-1-304. Limitations on risk management coverage. (1) Except as specifically modified in its authorizing statute, an independent entity is not eligible to receive coverage under the Risk Management Fund created by Section 63A-4-201 or any captive insurance company created by the risk manager. (2) If an independent entity that receives coverage under the […]
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 […]
Section 202 – Duties of the committee.
63E-1-202. Duties of the committee. (1) The committee shall: (a) study the scope of this title and determine what entities should be treated under this title as independent entities; (b) study the provisions of the Utah Code that govern each independent entity, including whether or not there should be consistency in these provisions; (c) study […]
Section 203 – Exemptions from committee activities.
Effective 12/31/2017 63E-1-203. Exemptions from committee activities. Notwithstanding the other provisions of this Part 2, Retirement and Independent Entities Committee, and Subsection 63E-1-102(4), the Utah Housing Corporation created in Section 63H-8-201 is exempt from the study by the committee under Section 63E-1-202. Amended by Chapter 363, 2017 General Session
Section 302 – Review by committee required for creating an independent entity.
Effective 7/1/2021 63E-1-302. Review by committee required for creating an independent entity. (1) If a government requestor proposes that the Legislature create an independent entity, that government requestor shall request that the committee review the proposal. (2) After receiving a request for review under Subsection (1), the chairs of the committee: (a) shall schedule a […]
Section 303 – Recommendations of the committee.
63E-1-303. Recommendations of the committee. After the committee has reviewed a proposal to create an independent entity in accordance with Section 63E-1-302, the committee shall make a report to the Legislature stating whether the committee: (1) recommends creation of the proposed independent entity; (2) recommends that the proposed independent entity not be created; or (3) […]
Section 102 – Definitions — List of independent entities.
Effective 7/1/2022 63E-1-102. Definitions — List of independent entities. As used in this title: (1) “Authorizing statute” means the statute creating an entity as an independent entity. (2) “Committee” means the Retirement and Independent Entities Committee created by Section 63E-1-201. (3) “Independent corporation” means a corporation incorporated in accordance with Chapter 2, Independent Corporations Act. […]
Section 103 – Registration as a limited purpose entity.
Effective 5/8/2018 63E-1-103. Registration as a limited purpose entity. (1) Each independent entity shall register and maintain the independent entity’s registration as a limited purpose entity, in accordance with Section 67-1a-15. (2) An independent entity that fails to comply with Subsection (1) or Section 67-1a-15 is subject to enforcement by the state auditor, in accordance […]