(1) Except as provided in Subsection (2), the following funds are exempt from this chapter: (a) funds invested in accordance with the participating employees' designation or direction pursuant to a public employees' deferred compensation plan established and operated in compliance with Section 457 of the Internal Revenue Code of 1986, as amended; (b) funds of the Utah State Retirement Board; (c) funds of the Utah Housing Corporation; (d) endowment funds of higher education institutions, including funds of the Higher Education Student Success Endowment, created in Section 53H-8-402; (e) permanent and other land grant trust funds established pursuant to the Utah Enabling Act and the Utah Constitution; (f) the State Post-Retirement Benefits Trust Fund; (g) the funds of the Utah Educational Savings Plan; (h) funds of the permanent state trust fund created by and operated under Utah Constitution, Article XXII, Section 4; (i) the funds in the Navajo Trust Fund; (j) the funds in the Radioactive Waste Perpetual Care and Maintenance Account; (k) the funds in the Employers' Reinsurance Fund; (l) the funds in the Uninsured Employers' Fund; (m) the Utah State Developmental Center Long-Term Sustainability Fund, created in Section 26B-1-331; (n) the funds in the Risk Management Fund created in Section 63A-4-201; (o) the Utah fund of funds created in Section 63N-6-401; (p) the funds deposited into the Utah Homes Investment Program from the Transportation Infrastructure General Fund Support Subfund created in Section 72-2-134; (q) subject to Subsection 67-4-19(2), the portion of the funds in the following accounts invested by the state treasurer in precious metals: (i) the State Disaster Recovery Restricted Account, created in Section 53-2a-603; (ii) the General Fund Budget Reserve Account, created in Section 63J-1-312; (iii) the Income Tax Fund Budget Reserve Account, created in Section 63J-1-313; and (iv) the Medicaid Growth Reduction and Budget Stabilization Account, created in Section 63J-1-315; (r) except as provided in Section 11-13-533, the funds of a public agency insurance mutual as that term is defined in Subsection 31A-1-103(7)(a); (s) the State Sovereignty Fund created in Section 51-13-201; and (t) the funds in the Opioid Litigation Proceeds Fund, created in Section 51-9-801. (2) Except for the funds of the Utah State Retirement Board and the Utah Educational Savings Plan, the funds described in Subsection (1) are not exempt from Subsections 51-7-14(2) and (3). (3) Notwithstanding Title 52, Chapter 4, Open and Public Meetings Act, a public body that administers a fund described in Subsection (1) may hold a closed meeting to discuss the sale or purchase of identifiable securities, investment funds, or investment contracts. (4) A paper, electronic, or other depiction or record of information relating to investment activities of a fund described in Subsection (1) is not subject to Title 63G, Chapter 2, Government Records Access and Management Act.
‹ Prev All Utah sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.