Utah § 63N-6-401 Organization of Utah fund of funds.

Utah Statutes

§ 63N-6-401 — Organization of Utah fund of funds.

Utah § 63N-6-401

Title 63NEconomic Opportunity Act

Ch. 63N-6Utah Venture Capital Enhancement Act

Part 63N-6-4Utah Fund of Funds

This text of Utah § 63N-6-401 (Organization of Utah fund of 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. § 63N-6-401 (2026).

Text

(1)The corporation shall organize, and be the sole member and manager of, the Utah fund of funds.

(2)The Utah fund of funds shall hold and manage investments made by the Utah fund of funds and proceeds from those investments until disbursed to the restricted account or used to pay the fees and expenses described in this chapter.

(3)The Utah fund of funds shall be organized as a limited liability company, with the corporation as the sole member and manager.

(4)The Utah fund of funds may not invest money after May 4, 2022, unless the Utah fund of funds committed to the investment before May 4, 2022.

(5)The corporation may disburse proceeds of investments from the Utah fund of funds into the restricted account at any time the corporation determines is in the best interest of the state, l

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(1) The corporation shall organize, and be the sole member and manager of, the Utah fund of funds.
(2) The Utah fund of funds shall hold and manage investments made by the Utah fund of funds and proceeds from those investments until disbursed to the restricted account or used to pay the fees and expenses described in this chapter.
(3) The Utah fund of funds shall be organized as a limited liability company, with the corporation as the sole member and manager.
(4) The Utah fund of funds may not invest money after May 4, 2022, unless the Utah fund of funds committed to the investment before May 4, 2022.
(5) The corporation may disburse proceeds of investments from the Utah fund of funds into the restricted account at any time the corporation determines is in the best interest of the state, leaving sufficient funds to pay expenses and fees owed by, or needed to wind up the affairs of, the corporation or the Utah fund of funds.
(6) The state treasurer shall notify the Executive Appropriations Committee when all investments held by the Utah fund of funds mature and the state treasurer determines it is advisable to complete winding up the affairs of the corporation.