Utah Statutes
§ 63E-1-404 — Penalties for violation.
Utah·Title 63E Independent Entities Code·Ch. 63E-1 Independent Entities Act·Part 63E-1-4 Privatization of Independent Entities
(1)A person who knowingly violates this part:
(1)(a) is guilty of a third degree felony if the combined value of any compensation or assets received by the person as a result of the violation is equal to or greater than $10,000; or
(1)(b) is guilty of a class A misdemeanor if the combined value of any compensation or assets received by the person as a result of the violation is less than $10,000.
(2)(2)(a) In addition to any penalty imposed under Subsection (1), a person that violates this part shall return to the successor of the independent entity any compensation or assets received in violation of this part.
(2)(b) If the assets received by the person in violation of this part are no longer in the possession of the person, the person shall pay the successor of the independent entity
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Legislative History
Amended by Chapter 125, 2022 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.