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Utah Code § 51-7-11.5

Certified investment advisers -- Scope of and limits to authority

Known as the State Money Management Act

The act spans §§ 51-7-1 to 51-7-9 (29 sections).

Amended by Chapter 338, 2017 General Session

(1) A certified investment adviser may not make any investments that are inconsistent with this chapter or rules of the council.

(2) Except as provided in Subsection (3), a certified investment adviser acting on behalf of a public treasurer shall conduct investment transactions only through qualified depositories, certified dealers, or directly with issuers of the investment securities.

(3) Subject to rules of the council, a certified investment adviser may use the adviser's own approved list of brokers and dealers.

Official source: Utah State Legislature. Reproduced from public-domain Utah statutes; confirm against the official source for the current text. Not legal advice.