Utah Code 11-42-706. Validation of prior guaranty fund or reserve fund proceedings

(1)	Subject to Subsection (2), all proceedings before April 30, 2007 related to the creation, maintenance, and use of a guaranty fund or reserve fund are validated, ratified, and confirmed.

Guaranty fund: means the fund established by a local entity under Section 11-42-701. See Utah Code 11-42-102
Reserve fund: means a fund established by a local entity under Section 11-42-702. See Utah Code 11-42-102

(2)	Nothing in this section may be construed to affect the validity of a guaranty fund or reserve fund whose legality is being contested on April 30, 2007.

Enacted by Chapter 329, 2007 General Session