Utah § 53D-1-401 Appointment of director -- Qualifications -- Nature of employment -- Removal by petition.

Utah Statutes

§ 53D-1-401 — Appointment of director -- Qualifications -- Nature of employment -- Removal by petition.

Utah § 53D-1-401

Title 53DSchool and Institutional Trust Fund Management and Land Trusts Protection and Advocacy Office

Ch. 53D-1School and Institutional Trust Fund Management Act

Part 53D-1-4Director

This text of Utah § 53D-1-401 (Appointment of director -- Qualifications -- Nature of employment -- Removal by petition.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 53D-1-401 (2026).

Text

(1)The office shall be managed by a director.

(2)If there is a vacancy in the director position, the board shall appoint an individual as director.

(3)The board shall ensure that an individual appointed as director possesses:

(3)(a) outstanding professional qualifications pertinent to the prudent investment of trust fund money; and

(3)(b) expertise in institutional investment management.

(4)The director is an at-will employee who may be removed by the board at any time with or without cause.

(5)(5)(a) The advocacy office director may submit a written petition to the board requesting the board to remove the director for cause, explained in the petition.

(5)(b) The board shall hold a hearing on a petition under Subsection (5)(a) within 45 days after receiving the petition.

(5)(c) If, a

Free access — add to your briefcase to read the full text and ask questions with AI

(1) The office shall be managed by a director.
(2) If there is a vacancy in the director position, the board shall appoint an individual as director.
(3) The board shall ensure that an individual appointed as director possesses:

(3)(a) outstanding professional qualifications pertinent to the prudent investment of trust fund money; and
(3)(b) expertise in institutional investment management.
(4) The director is an at-will employee who may be removed by the board at any time with or without cause.
(5) (5)(a) The advocacy office director may submit a written petition to the board requesting the board to remove the director for cause, explained in the petition.
(5)(b) The board shall hold a hearing on a petition under Subsection (5)(a) within 45 days after receiving the petition.
(5)(c) If, after holding a hearing, the board finds by a preponderance of the evidence that there is cause for removing the director, the board shall remove the director.