Superseded 7/1/2023)
53B-8a-105. Powers and duties of board.
| (1) |
The board has all powers necessary to carry out and effectuate the purposes, objectives, and provisions of this chapter pertaining to the plan. |
Terms Used In Utah Code 53B-8a-105
- Board: means the board of directors of the Utah Educational Savings Plan, which is the Utah Board of Higher Education acting in the Utah Board of Higher Education's capacity as the Utah Higher Education Assistance Authority under Title 53B, Chapter 12, Higher Education Assistance Authority. See Utah Code 53B-8a-102.5
- Executive director: means the administrator appointed to administer and manage the Utah Educational Savings Plan. See Utah Code 53B-8a-102.5
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Oversight: Committee review of the activities of a Federal agency or program.
- Plan: means the Utah Educational Savings Plan created in Section 53B-8a-103. See Utah Code 53B-8a-102
| (2) |
The duties, responsibilities, funds, liabilities, and expenses of the board in oversight and governance of the plan shall be maintained separate and apart from the board’s other duties, responsibilities, funds, liabilities, and expenses. |
| (3) |
The board shall make policies governing the:
| (a) |
administration of the plan; and |
| (b) |
appointment and duties of the plan’s executive director. |
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| (4) |
| (a) |
The board may appoint advisory committees to aid the board in fulfilling its duties and responsibilities. |
| (b) |
An advisory committee member may receive compensation and be reimbursed for reasonable expenses incurred in the performance of the member’s official duties as determined by the board. |
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Amended by Chapter 46, 2011 General Session
