Utah § 9-8-707 Spending restrictions -- Return of endowment.

Utah Statutes

§ 9-8-707 — Spending restrictions -- Return of endowment.

Utah § 9-8-707

Title 9Cultural and Community Engagement

Ch. 9-8History Development

Part 9-8-7Endowment Funds for History Organizations

This text of Utah § 9-8-707 (Spending restrictions -- Return of endowment.) 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. § 9-8-707 (2026).

Text

(1)A qualifying organization that has received endowment money from funds made available for that purpose:

(1)(a) may not expend the money or the required matching money in the endowment fund; and

(1)(b) may expend the interest income earned on the money in the endowment fund.

(2)If a qualifying organization expends money in violation of Subsection (1), the qualifying organization shall return the amount of money allocated by the society under this part to the Division of Finance.

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(1) A qualifying organization that has received endowment money from funds made available for that purpose:

(1)(a) may not expend the money or the required matching money in the endowment fund; and
(1)(b) may expend the interest income earned on the money in the endowment fund.
(2) If a qualifying organization expends money in violation of Subsection (1), the qualifying organization shall return the amount of money allocated by the society under this part to the Division of Finance.