51-12-201. Investment opportunities.
(1) A qualified depository may request the state treasurer to make a deposit in the qualified depository if the qualified depository: has identified and approved for financing a qualified project; and requests no more than 100% of the financing for a qualified project.
(2) Subject to Subsection (3), the state treasurer shall approve the qualified depository's request for deposit: unless the state treasurer determines the qualified depository does not merit deposit under fiduciary duties and prudent investment practices within the parameters of this chapter; in an amount that is equal to the lesser of: the deposit amount requested; $60,000,000; or 50% of the qualified depository's maximum amount of public deposits determined in accordance with Section; and 51-7-18.1 as sufficient money becomes available in the fund and in accordance with Subsection. 72-2-134(4)(a)
(3) The state treasurer may not approve a request for deposit after December 31, 2027.
(4) The state treasurer shall notify Utah Housing Corporation of any qualified projects for which the state treasurer makes a deposit in a qualified depository.