(1)There is created the Land Trusts Protection and Advocacy Committee to:
(1)(a) oversee the activities of the advocacy director and the advocacy office;
(1)(b) submit advocacy director candidate names to the state treasurer, as described in Section 53D-2-203;
(1)(c) determine the advocacy director's compensation and annually review the compensation and performance of the advocacy director;
(1)(d) receive quarterly reports from the advocacy director;
(1)(e) review, amend as necessary, and transmit to the state treasurer proposed rules submitted by the advocacy director;
(1)(f) receive the annual report described in Section 53D-2-203 from the advocacy director; and
(1)(g) give policy direction to the advocacy office.
(2)In accordance with Subsection (3), the advocacy committee consists o
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(1) There is created the Land Trusts Protection and Advocacy Committee to:
(1)(a) oversee the activities of the advocacy director and the advocacy office;
(1)(b) submit advocacy director candidate names to the state treasurer, as described in Section 53D-2-203;
(1)(c) determine the advocacy director's compensation and annually review the compensation and performance of the advocacy director;
(1)(d) receive quarterly reports from the advocacy director;
(1)(e) review, amend as necessary, and transmit to the state treasurer proposed rules submitted by the advocacy director;
(1)(f) receive the annual report described in Section 53D-2-203 from the advocacy director; and
(1)(g) give policy direction to the advocacy office.
(2) In accordance with Subsection (3), the advocacy committee consists of the following five members:
(2)(a) two individuals appointed by the School and Institutional Trust Lands Board of Trustees;
(2)(b) one individual appointed by the School and Institutional Trust Fund Board of Trustees;
(2)(c) one individual appointed by the state treasurer; and
(2)(d) a State Board of Education staff member who administers the School LAND Trust Program, designated as described in Section 53G-7-1206.
(3) A member of the advocacy committee:
(3)(a) may not be:
(3)(a)(i) the state treasurer or a current employee of the state treasurer;
(3)(a)(ii) a member of the School and Institutional Trust Lands Board of Trustees;
(3)(a)(iii) an employee of the School and Institutional Trust Lands Administration;
(3)(a)(iv) a member of the School and Institutional Trust Fund Board of Trustees; or
(3)(a)(v) an employee of the School and Institutional Trust Fund Office;
(3)(b) shall have significant qualifications related to the purposes and activities of the school and institutional trust, such as:
(3)(b)(i) nonrenewable resource development;
(3)(b)(ii) renewable resource management;
(3)(b)(iii) real estate development; or
(3)(b)(iv) investment management; and
(3)(c) shall have demonstrated a commitment of time and loyalty to the purposes of the trust.
(4) (4)(a) Except as provided in Subsections (4)(b) and (c), an appointed member of the advocacy committee shall:
(4)(a)(i) serve a four-year term; and
(4)(a)(ii) receive notification of an appointment on or before December 1 of the year before the vacancy occurs for which the member is appointed.
(4)(b) At the time of appointment or reappointment, the state treasurer shall adjust the length of the initial terms of the advocacy committee's appointed members to ensure that the terms are staggered so that approximately half of the advocacy committee is appointed every two years.
(4)(c) If a vacancy occurs during the course of an appointed member's term, the appointing entity shall immediately appoint a replacement for the unexpired term.
(5) Advocacy committee members shall annually elect a chair.
(6) (6)(a) The advocacy committee shall meet at least quarterly, at a time set by the chair.
(6)(b) The chair or any two members of the advocacy committee may call an additional meeting.
(7) (7)(a) A quorum for the transaction of business is four members of the advocacy committee.
(7)(b) Action by a majority of a quorum present constitutes the action of the advocacy committee.
(8) An advocacy committee member may not receive compensation or benefits for the member's service, but may receive per diem and travel expenses in accordance with:
(8)(a) Section 63A-3-106;
(8)(b) Section 63A-3-107; and
(8)(c) rules made by the Division of Finance pursuant to Sections 63A-3-106 and 63A-3-107.
(9) The state treasurer's office shall provide staff support to the advocacy committee.