53H-16-304. Executive director appointment -- Duties and powers.
(1) The commissioner shall appoint and determine compensation for an executive director for the institute.
(2) The executive director shall: manage the day-to-day operations of the institute and the Nucleus Fund; execute the policies of the institute board; oversee the investment and expenditure of funds; oversee qualified investments made by the Nucleus Fund; assess reasonable fees for management of assets in the Nucleus Fund for reasonable costs of the Nucleus Fund; consult with the institute board regarding policies and direction of the institute; prepare an operating budget for the institute and submit the operating budget to the Utah Board of Higher Education for approval; adopt a budget submitted by the chair of the investment committee; establish job descriptions and, within budgetary constraints, employ staff necessary to accomplish the purposes of the institute and the Nucleus Fund; and execute other duties as assigned by the institute board.
(3) The executive director may: hire and supervise necessary staff for the institute; manage contracts and collaborations with consultants; and enter into contracts on behalf of the institute.