Utah Statutes
§ 63N-6-401 — Organization of Utah fund of funds.
Utah·Title 63N Economic Opportunity Act·Ch. 63N-6 Utah Venture Capital Enhancement Act·Part 63N-6-4 Utah Fund of Funds
(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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Legislative History
Amended by Chapter 298, 2022 General Session
Nearby Sections
15
§ 63N-13-101
Title -- Projects to assist companies to secure new business with federal, state, and local governments.§ 63N-13-301
Title.§ 63N-13-302
Definitions.§ 63N-13-303
Contract with facilitator.§ 63N-13-304
Functions and responsibilities of facilitator.§ 63N-13-305
Office oversight over contract performance of facilitator -- Office reports to Legislature.§ 63N-16-102
Definitions.§ 63N-16-104
Creation and duties of advisory committee.§ 63N-16-105
Annual report.§ 63N-16-202
Scope of the regulatory sandbox.§ 63N-16-203
Consumer protection for regulatory sandbox.§ 63N-16-204
Requirements for exiting regulatory sandbox.