Utah Statutes
§ 53C-4-101 — Criteria for sale, lease, exchange, or other disposition of trust lands.
Utah·Title 53C School and Institutional Trust Lands Management Act·Ch. 53C-4 Sales, Exchanges, and Leases of Trust Lands·Part 53C-4-1 Sales of Trust Lands
(1)(1)(a) The director shall establish criteria by rule for the sale, exchange, lease, or other disposition or conveyance of trust lands, including procedures for determining fair market value of those lands.
(1)(b) (1)(b)(i) Nothing in this title or in the administration's rules and procedures shall be considered to require the director or the administration to execute any transaction for the disposition of trust lands on terms that the director determines by a written finding to be unfavorable to the beneficiaries.
(1)(b)(ii) The director shall send a copy of the written finding to each board member for review and comment.
(2)The governor, with the consent of the board, may participate in efforts and initiatives related to school and institutional trust lands inholdings.
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Legislative History
Amended by Chapter 247, 2011 General Session
Nearby Sections
15
§ 53C-1-101
Title.§ 53C-1-102
Purpose.§ 53C-1-103
Definitions.§ 53C-1-203
Board of trustees nominating committee -- Composition -- Responsibilities -- Per diem and expenses.§ 53C-1-204
Policies established by board -- Director.§ 53C-1-304
Rules to ensure procedural due process -- Board review of director action -- Judicial review.§ 53C-1-307
Annual report.