Utah Code § 53H-16-405
Utah innovation fund investment committee chair -- Duties
Redline — January 1, 2025 → current.View current text →
Current — July 1, 2026
As of January 1, 2025
(1) The institute board shall appoint and determine compensation for a chair of the investment committee.
(1) The institute board shall appoint a chair of the investment committee.
(2) The committee chair shall: (a) manage and execute the policies established by the institute board and the investment committee; (b) in consultation with the investment committee, manage qualified investments made by the Utah innovation fund; (c) annually submit to the institute: (i) a budget for the Utah innovation fund; and (ii) a financial plan for operations of the Utah innovation fund; (d) in accordance with generally accepted principles of fund accounting, establish a system to identify and account for Utah innovation fund assets; (e) maintain appropriate records of Utah innovation fund activities to enable auditors to conduct periodic audits as described in Section 53H-16-407; and (f) fulfill other duties as provided by the investment committee.
(2) The committee chair shall: (a) manage and execute the policies established by the institute board and the investment committee; (b) in consultation with the investment committee, manage qualified investments made by the Nucleus Fund; (c) annually submit to the institute: (i) a budget for the Nucleus Fund; and (ii) a financial plan for operations of the Nucleus Fund; (d) in accordance with generally accepted principles of fund accounting, establish a system to identify and account for Nucleus Fund assets; (e) maintain appropriate records of Nucleus Fund activities to enable auditors to conduct periodic audits as described in Section 53H-16-407; and (f) fulfill other duties as provided by the investment committee.
Official source: Utah State Legislature. Reproduced from public-domain Utah statutes; confirm against the official source for the current text. Not legal advice.