Utah Code 53D-1-301. Board of trustees — Creation — Membership
Current as of: 2023 | Check for updates
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53D-1-301. Board of trustees — Creation — Membership.
(1) | There is created a School and Institutional Trust Fund Board of Trustees. |
(a) | the sale or use of land granted to the state under Sections 6, 8, and 12 of the enabling act; |
(b) | proceeds referred to in Section 9 of the enabling act from the sale of public land; and |
(c) | revenue and assets referred to in Utah Constitution, Article X, Section 5, Subsections Utah Code 53D-1-102 | ||||
(2) | The board consists of:
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(4) |
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(5) | Before assuming duties as a board member, a member shall take an oath of office that includes the following: “I solemnly swear to carry out my duties as a member of the School and Institutional Trust Fund Board of Trustees and to act with undivided loyalty to the beneficiaries of the trust fund that the board oversees, to the best of my abilities and consistent with the law.” |
(6) | The state treasurer may remove a board member for cause, subject to the affirmative vote of at least two other board members, besides the state treasurer. |
(7) | The state treasurer shall fill a vacancy in the same manner as the initial appointment under Subsection (2)(b). |
(8) | A board member may not receive any compensation or benefits for the member’s service, but the member may receive per diem and travel expenses in accordance with:
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Amended by Chapter 258, 2015 General Session