Utah Code 11-59-603. Purchase of authority bonds
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(1) Any individual, firm, corporation, association, political subdivision of the state, or other entity or public or private officer may purchase bonds issued by an authority under this part with funds owned or controlled by the purchaser.
Terms Used In Utah Code 11-59-603
- Authority: means the Point of the Mountain State Land Authority, created in Section
11-59-201 . See Utah Code 11-59-102 - 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.
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(2) Nothing in this section may be construed to relieve a purchaser of authority bonds of any duty to exercise reasonable care in selecting and purchasing securities.