Utah § 53H-8-503 Disclosure of foreign gifts to institutions -- Prohibition on restricted foreign entity funds.

Utah Statutes

§ 53H-8-503 — Disclosure of foreign gifts to institutions -- Prohibition on restricted foreign entity funds.

Utah § 53H-8-503

Title 53HHigher Education

Ch. 53H-8Finance

Part 53H-8-5Foreign Bank Accounts and Foreign Gifts

This text of Utah § 53H-8-503 (Disclosure of foreign gifts to institutions -- Prohibition on restricted foreign entity funds.) 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. § 53H-8-503 (2026).

Text

(1)(1)(a) Except as provided in Subsection (1)(c), on or before July 31 of each year, an institution shall disclose to the board, by filing a disclosure report described in Subsection (2), a gift received by the institution of $50,000 or more from a foreign person, considered alone or in combination with all other gifts from the foreign person, during the period beginning July 1 and ending on June 30 immediately preceding the July 31 deadline.

(1)(b) An institution may rely on the following address of a foreign person to determine the citizenship or nationality of the foreign person if the citizenship or nationality is unknown:

(1)(b)(i) for a foreign person that is an individual, the principal residence; and

(1)(b)(ii) for a foreign person that is not an individual, the principal place o

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(1) (1)(a) Except as provided in Subsection (1)(c), on or before July 31 of each year, an institution shall disclose to the board, by filing a disclosure report described in Subsection (2), a gift received by the institution of $50,000 or more from a foreign person, considered alone or in combination with all other gifts from the foreign person, during the period beginning July 1 and ending on June 30 immediately preceding the July 31 deadline.
(1)(b) An institution may rely on the following address of a foreign person to determine the citizenship or nationality of the foreign person if the citizenship or nationality is unknown:
(1)(b)(i) for a foreign person that is an individual, the principal residence; and
(1)(b)(ii) for a foreign person that is not an individual, the principal place of business.
(1)(c) The $50,000 amount described in Subsection (1)(a) is increased to $250,000 if the gift, considered alone or in combination with all other gifts, described in Subsection (1)(a) is from a foreign person:
(1)(c)(i) with a principal residence or principal place of business located in the United States; and
(1)(c)(ii) with a permanent resident status:
(1)(c)(ii)(A) under Section 245 of the Immigration and Nationality Act; and
(1)(c)(ii)(B) for 10 years or more.
(2) A disclosure report regarding all gifts described in Subsection (1) shall include:
(2)(a) the amount of each gift described in Subsection (1);
(2)(b) the date on which each gift described in Subsection (1) was received by the institution;
(2)(c) the name of the foreign person making each gift described in Subsection (1);
(2)(d) the aggregate amount of all gifts described in Subsection (1) from a foreign person during the prior fiscal year of the institution;
(2)(e) for a conditional gift, a description of the conditions or restrictions related to the conditional gift;
(2)(f) for a conditional gift:
(2)(f)(i) for a foreign person that is an individual, if known, the country of citizenship or principal residence of the individual; or
(2)(f)(ii) for a foreign person that is not an individual, if known, the country of incorporation or place of business of the foreign person; and
(2)(g) for a conditional gift that is a contract entered into between an institution and a foreign person:
(2)(g)(i) the amount;
(2)(g)(ii) the date;
(2)(g)(iii) a description of all conditions or restrictions; and
(2)(g)(iv) the name of the foreign person.
(3) A disclosure report required by this section is a public record open to inspection and review during the institution's business hours.
(4) At the request of the board, the attorney general may file a civil action to compel an institution to comply with the requirements of this section.
(5) The board shall make rules for the administration of this section in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act.
(6) An institution may not seek or accept funding support from a restricted foreign entity or an entity that passes on funding support from a restricted foreign entity.