§ 53C-1-202 — Board of trustees membership -- Nomination list -- Qualifications -- Terms -- Replacement -- Chair -- Quorum -- Annual conflict of interest disclosure statement -- Penalties.

(1) There is established the School and Institutional Trust Lands Board of Trustees.
(2) The board shall consist of seven members appointed on a nonpartisan basis by the governor with the advice and consent of the Senate and in accordance with Title 63G, Chapter 24, Part 2, Vacancies.
(3) (3)(a) Except for the appointment made pursuant to Subsection (5), all appointments to the board shall be for a nonconsecutive term of six years, or until a replacement has been appointed and confirmed pursuant to this section.
(3)(b) If a vacancy occurs, the governor shall appoint a replacement, following the procedures set forth in Subsections (2), (4), (5), and (6), to fill the unexpired term.
(3)(c) Any member of the board who has served less than six years upon the expiration of that member's term is eligible for a consecutive reappointment.
(4) (4)(a) The governor shall select six of the seven appointees to the board from a nomination list of at least two candidates for each position or vacancy submitted pursuant to Section 53C-1-203.
(4)(b) The governor may request an additional nomination list of at least two candidates from the nominating committee if the initial list of candidates for a given position is unacceptable.
(4)(c) (4)(c)(i) If the governor fails to select an appointee within 60 days after receipt of the initial list or within 60 days after the receipt of an additional list, the nominating committee shall make an interim appointment by majority vote.
(4)(c)(ii) The interim appointee shall serve until the matter is resolved by the committee and the governor or until replaced pursuant to this chapter.
(5) (5)(a) The governor may appoint one member without requiring a nomination list.
(5)(b) The member appointed under Subsection (5)(a) serves at the pleasure of the governor.
(6) (6)(a) Each board candidate shall possess outstanding professional qualifications pertinent to the purposes and activities of the trust.
(6)(b) The board shall represent the following areas of expertise:
(6)(b)(i) nonrenewable resource management or development;
(6)(b)(ii) renewable resource management or development; and
(6)(b)(iii) real estate.
(6)(c) Other qualifications which are pertinent for membership to the board are expertise in any of the following areas:
(6)(c)(i) business;
(6)(c)(ii) investment banking;
(6)(c)(iii) finance;
(6)(c)(iv) trust administration;
(6)(c)(v) asset management; and
(6)(c)(vi) the practice of law in any of the areas referred to in Subsections (6)(b) and (6)(c)(i) through (v).
(7) The board of trustees shall select a chair and vice chair from its membership.
(8) Before assuming a position on the board, each member shall take an oath of office.
(9) Four members of the board constitute a quorum for the transaction of business.
(10) The governor or five board members may, for cause, remove a member of the board.
(11) A member of the board shall:
(11)(a) comply with the conflict of interest provisions described in Title 63G, Chapter 24, Part 3, Conflicts of Interest; and
(11)(b) no sooner than January 1 and no later than January 31 of each year during which the member holds office on the board:
(11)(b)(i) prepare a written conflict of interest disclosure statement that contains a response to each item of information described in Subsection 20A-11-1604(6); and
(11)(b)(ii) submit the written disclosure statement to the administrator or clerk of the board.
(12) (12)(a) No later than 10 business days after the date on which the board member submits the written disclosure statement described in Subsection (11)(b) to the administrator or clerk of the board, the administrator or clerk shall:
(12)(a)(i) post an electronic copy of the written disclosure statement on the administration's website; and
(12)(a)(ii) provide the lieutenant governor with a link to the electronic posting described in Subsection (12)(a)(i).
(12)(b) The administrator or clerk shall ensure that the board member's written disclosure statement remains posted on the administration's website until the board member leaves office.
(13) The administrator or clerk of the board shall take the action described in Subsection (14) if:
(13)(a) a board member fails to timely file the written disclosure statement described in Subsection (11)(b); or
(13)(b) a submitted written disclosure statement does not comply with the requirements of Subsection 20A-11-1604(6).
(14) If a circumstance described in Subsection (13) occurs, the administrator or clerk of the board shall, within five days after the day on which the administrator or clerk determines that a violation occurred, notify the board member of the violation and direct the board member to submit an amended written disclosure statement correcting the problem.
(15) (15)(a) It is unlawful for a board member to fail to submit or amend a written disclosure statement within seven days after the day on which the board member receives the notice described in Subsection (14).
(15)(b) A board member who violates Subsection (15)(a) is guilty of a class B misdemeanor.
(15)(c) The administrator or clerk of the board shall report a violation of Subsection (15)(a) to the attorney general.
(15)(d) In addition to the criminal penalty described in Subsection (15)(b), the administrator or clerk of the board shall impose a civil fine of $100 against a board member who violates Subsection (15)(a).
(16) The administrator or clerk of the board shall deposit a fine collected under this section into the board's account to pay for the costs of administering this section.

Legislative History

Amended by Chapter 443, 2024 General Session