Section 305 – Management fee — Additional financial assistance.

• (1) The corporation may charge a management fee on assets under management in the Utah fund of funds.

• (2) The management fee described in Subsection (1) may not, in a calendar year, exceed 1% of the asset value of the Utah fund of funds on the immediately preceding December 31.

• (3) In addition to the management fee, the Utah fund of funds will pay directly or reimburse the corporation for out-of-pocket expenses, including fund administration, tax and audit fees and costs, investment and monitoring costs, and similar expenses incurred in connection with the operation of the corporation or the Utah fund of funds.

Amended by Chapter 298, 2022 General Session