(1) The institute board shall appoint and determine compensation for a chair of the investment committee. (2) The committee chair shall: (a) manage and execute the policies established by the institute board and the investment committee; (b) in consultation with the investment committee, manage qualified investments made by the Utah innovation fund; (c) annually submit to the institute: (i) a budget for the Utah innovation fund; and (ii) a financial plan for operations of the Utah innovation fund; (d) in accordance with generally accepted principles of fund accounting, establish a system to identify and account for Utah innovation fund assets; (e) maintain appropriate records of Utah innovation fund activities to enable auditors to conduct periodic audits as described in Section 53H-16-407; and (f) fulfill other duties as provided by the investment committee. Renumbered and Amended by Chapter 8, 2025 Special Session 1
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