Utah Statutes
§ 63E-1-403 — Privatization process -- Audit.
Utah·Title 63E Independent Entities Code·Ch. 63E-1 Independent Entities Act·Part 63E-1-4 Privatization of Independent Entities
(1)If an independent entity seeks to privatize the independent entity, it shall:
(1)(a) submit to the Legislature recommended legislation to:
(1)(a)(i) repeal the authorizing statute and revise state law as necessary to terminate its relationship to the state; and
(1)(a)(ii) address the value of any interests the state holds in the independent entity and whether the state should receive compensation for those interests as part of privatization; and
(1)(b) be audited by the state auditor:
(1)(b)(i) within one year prior to the effective date of legislation that repeals the authorizing statute to terminate the relationship between the independent entity and the state; and
(1)(b)(ii) to determine the amount, nature, and source of revenues and assets of the independent entity.
(2)The relati
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Legislative History
Enacted by Chapter 201, 2001 General Session
Nearby Sections
15
§ 63E-1-101
Title.§ 63E-1-102
Definitions -- List of independent entities.§ 63E-1-103
Registration as a limited purpose entity.§ 63E-1-202
Duties of the committee.§ 63E-1-301
Definitions.§ 63E-1-303
Recommendations of the committee.§ 63E-1-304
Limitations on risk management coverage.§ 63E-1-401
Definitions.§ 63E-1-402
Benefits to interested parties of an independent entity -- Disposition of unused appropriations.§ 63E-1-403
Privatization process -- Audit.§ 63E-1-404
Penalties for violation.§ 63E-2-101
Title.§ 63E-2-102
Independent corporations.