Utah Statutes
§ 9-8-707 — Spending restrictions -- Return of endowment.
Utah·Title 9 Cultural and Community Engagement·Ch. 9-8 History Development·Part 9-8-7 Endowment Funds for History Organizations
(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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Legislative History
Amended by Chapter 160, 2023 General Session
Nearby Sections
15
§ 9-1-101
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Title.§ 9-20-102
Definitions.