Utah Code 63N-6-402. Compensation from the Utah fund of funds to the corporation — Transfer to restricted account

63N-6-402. Compensation from the Utah fund of funds to the corporation — Transfer to restricted account.

(1)	The corporation shall be compensated for its involvement in the Utah fund of funds through the payment of the management fee described in Section 63N-6-305.

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.
Corporation: means the Utah Capital Investment Corporation created under Section 63N-6-301. See Utah Code 63N-6-103
Restricted account: means the Utah Capital Investment Restricted Account created in Section 63N-6-204. See Utah Code 63N-6-103
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
Utah fund of funds: means a limited liability company established under Section 63N-6-401. See Utah Code 63N-6-103

(2)

(a)	On or before June 30, 2022, the Utah fund of funds shall transfer $15,000,000 to the state treasurer.

(b)	The state treasurer shall deposit the money described in Subsection (2)(a) into the restricted account.

Amended by Chapter 298, 2022 General Session