A governing board shall manage and direct the business and affairs of a governmental nonprofit corporation.
Terms Used In Utah Code 11-13a-103
Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
a nonprofit corporation that is wholly owned or wholly controlled by one or more governmental entities, unless the nonprofit corporation receives no operating funding or other financial support from any governmental entity; or
(ii)
a nonprofit corporation in which one or more governmental entities exercise a controlling interest and:
(A)
that exercises taxing authority;
(B)
that imposes a mandatory fee for association or participation with the nonprofit corporation where that association or participation is mandated by law; or
(C)
that receives a majority of the nonprofit corporation's operating funding from one or more governmental entities under the nonprofit corporation's governing documents, except where voluntary membership fees, dues, or assessments compose the operating funding. See Utah Code 11-13a-102
