Effective 5/12/2015 51-8-301. Appropriation for expenditure or accumulation of endowment fund. (1) (a) Subject to the intent of a donor expressed in a gift instrument and to Subsection (3), an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution determines to be prudent for the uses, benefits, purposes, […]
51-8-302. Transferring management of endowment funds. (1) A higher education institution may only transfer the management of any institutional fund to a manager if the transferring higher education institution: (a) retains sufficient funds to cover its cash requirements; and (b) continues to be responsible for the proper collection, deposit, and disbursement of the institutional fund […]
Effective 7/1/2020 51-8-303. Requirements of member institutions of the state system of higher education. (1) The Utah Board of Higher Education shall: (a) establish asset allocations for the institutional funds; (b) in consultation with the commissioner of higher education, establish guidelines for investing the funds; and (c) establish a written policy governing conflicts of interest. […]
51-8-304. Rebuttable presumption of imprudence — Scope. (1) The appropriation for expenditure in any year of an amount greater than seven percent of the fair market value of an endowment fund, calculated on the basis of market values determined at least quarterly and averaged over a period of not less than three years immediately preceding […]
