Utah § 63N-6-405 Annual audits.

Utah Statutes

§ 63N-6-405 — Annual audits.

Utah § 63N-6-405

Title 63NEconomic Opportunity Act

Ch. 63N-6Utah Venture Capital Enhancement Act

Part 63N-6-4Utah Fund of Funds

This text of Utah § 63N-6-405 (Annual audits.) 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-6-405 (2026).

Text

(1)Each calendar year, an audit of the activities of the Utah fund of funds shall be made as described in this section.

(2)(2)(a) The audit shall be conducted by:

(2)(a)(i) the state auditor; or

(2)(a)(ii) an independent auditor engaged by the state auditor.

(2)(b) An independent auditor used under Subsection (2)(a)(ii) must have no business, contractual, or other connection to:

(2)(b)(i) the corporation; or

(2)(b)(ii) the Utah fund of funds.

(3)The corporation shall pay the costs associated with the annual audit.

(4)The annual audit report shall:

(4)(a) be delivered to:

(4)(a)(i) the corporation; and

(4)(a)(ii) the state treasurer;

(4)(b) include a valuation of the assets owned by the Utah fund of funds as of the end of the reporting year;

(4)(c) include an opinion regarding the accu

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(1) Each calendar year, an audit of the activities of the Utah fund of funds shall be made as described in this section.
(2) (2)(a) The audit shall be conducted by:
(2)(a)(i) the state auditor; or
(2)(a)(ii) an independent auditor engaged by the state auditor.
(2)(b) An independent auditor used under Subsection (2)(a)(ii) must have no business, contractual, or other connection to:
(2)(b)(i) the corporation; or
(2)(b)(ii) the Utah fund of funds.
(3) The corporation shall pay the costs associated with the annual audit.
(4) The annual audit report shall:

(4)(a) be delivered to:
(4)(a)(i) the corporation; and
(4)(a)(ii) the state treasurer;
(4)(b) include a valuation of the assets owned by the Utah fund of funds as of the end of the reporting year;
(4)(c) include an opinion regarding the accuracy of the information provided in the annual report described in Subsection 63N-6-301(6); and
(4)(d) be completed on or before September 1 for the previous calendar year so that it may be included in the annual report described in Subsection 63N-6-301(6).