Utah § 51-13-202 State Sovereignty Fund -- Investment -- Administrative costs.

Utah Statutes

§ 51-13-202 — State Sovereignty Fund -- Investment -- Administrative costs.

Utah·Title 51 Public Funds and Accounts·Ch. 51-13 State Sovereignty Fund·Part 51-13-2 Establishment of State Sovereignty Fund

(1)The state treasurer shall:

(1)(a) invest money in the fund with the following goals, in order of priority:

(1)(a)(i) providing for growth of the principal; and

(1)(a)(ii) fund stability;

(1)(b) invest and manage fund assets as a prudent investor would by:

(1)(b)(i) considering the purpose, terms, distribution requirements, and other circumstances of the fund; and

(1)(b)(ii) exercising reasonable care, skill, and caution in order to meet the standard of care of a prudent investor; and

(1)(c) deposit into the fund the interest, dividends, or other earnings attributable to the fund.

(2)The state treasurer may deduct any administrative costs incurred by managing the fund from earnings generated by investments in the fund.

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(1) The state treasurer shall:
(1)(a) invest money in the fund with the following goals, in order of priority:
(1)(a)(i) providing for growth of the principal; and
(1)(a)(ii) fund stability;
(1)(b) invest and manage fund assets as a prudent investor would by:
(1)(b)(i) considering the purpose, terms, distribution requirements, and other circumstances of the fund; and
(1)(b)(ii) exercising reasonable care, skill, and caution in order to meet the standard of care of a prudent investor; and
(1)(c) deposit into the fund the interest, dividends, or other earnings attributable to the fund.
(2) The state treasurer may deduct any administrative costs incurred by managing the fund from earnings generated by investments in the fund.

Utah § 51-13-202 (State Sovereignty Fund -- Investment -- Administrative costs.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.