Title 51, Title 51: Public Funds and Accounts

51-7-13. Funds of member institutions of state system of higher education and public education foundations -- Authorized deposits or investments. (1) The provisions of this section apply to all funds of: higher education institutions, other than endowment funds, that are not tran…

51-7-14. Prudent investor rule for management of investments -- Proxy voting -- Sale of security or investment for less than cost -- State treasurer access. (1) Subject to Subsection, a person selecting investments authorized by Sectionsandshall: (2) 51-7-11 51-7-13 select invest…

51-7-15. Crime insurance for state treasurer and other public treasurers -- Reports to council. (1) The state treasurer, county, city, and town treasurers, the clerk or treasurer of each school district, and other public treasurers that the council designates by rule shall obtain…

51-7-16. State Money Management Council -- Members -- Terms -- Vacancies -- Chair and vice chair-- Executive secretary -- Meetings -- Quorum -- Members' disclosure of interests -- Per diem and expenses. (1) There is created a State Money Management Council composed of five member…

51-7-17. Criteria for investments. (1) As used in this section: "Affiliate" means, in relation to a provider: an entity controlled, directly or indirectly, by the provider; an entity that controls, directly or indirectly, the provider; or an entity directly or indirectly under co…

51-7-18. Duties of council. (1) The council shall: advise the state treasurer and other public treasurers about investment policies; cooperate with the commissioner of financial institutions by promoting measures and rules that will assist in strengthening the banking and credit …

51-7-18.1. Qualified depositories list -- Reports -- Treatment of confidential information -- Powers -- Staff -- Limits on powers. (1) The council shall provide a list of qualified depositories to each public treasurer at least semiannually. The list shall include: the name of ea…

51-7-18.2. Public treasurer's reports -- Contents. (1) The council may: require a public treasurer to prepare and file a written report in a form prescribed by the council containing the information required by this section; and specify that the report will contain the informatio…

51-7-18.3. Certified dealers' list -- Fees. (1) The council shall provide a list of certified dealers to each public treasurer at least semiannually. The list of certified dealers shall include: the name of each certified dealer; and the name of each agent authorized by the certi…

51-7-18.4. Certified investment advisers' list -- Fees. (1) The council shall provide a list of certified investment advisers to each public treasurer at least semiannually. The list of certified investment advisers shall include: the name of each certified investment adviser; an…

51-7-19. Increase in deposits of public funds -- Authorization. (1) The commissioner of financial institutions may, with the approval of the council: increase for a period not to exceed 90 days the amount of public funds any qualified depository may hold whenever additional depos…

51-7-2. Exemptions from chapter. (1) Except as provided in Subsection, the following funds are exempt from this chapter: (2) funds invested in accordance with the participating employees' designation or direction pursuant to a public employees' deferred compensation plan establis…

51-7-22. Penalty for violation by public treasurer. (1) Any public treasurer who willfully violates the deposit and investment provisions of this chapter is guilty of a class A misdemeanor. (2) Any public treasurer who knowingly makes or causes to be made a false statement or rep…

51-7-22.4. Penalties for violation by certified investment advisers. (1) An intentional violation by a certified investment adviser of Section,, or, or any rule or order under this chapter is punishable by a civil penalty of: 51-7-7 51-7-11 51-7-11.5 $1,000 for each day of noncom…

51-7-22.5. Enforcement. (1) Whenever it appears to the council that any person has engaged, is engaging, or is about to engage in any act or practice constituting a violation of this chapter or any rule issued under authority of this chapter: the council may bring an action in a …

51-7-23. Transition of investments previously authorized. (1) Any investment held by a public treasurer that as of June 30, 2015, is not in compliance with the provisions of this chapter is subject to review by the council. (2) No later than July 31, 2015, a public treasurer who …

51-7-24. Sales and purchase in violation -- Remedies -- Limitation of action. (1) Each certified investment adviser or certified dealer who transacts securities business with a public treasurer in violation of this chapter or any rule made or order issued under authority of this …

51-7-3. Definitions. As used in this chapter: (1) "Agent" means the same as that term is defined in Section. 61-1-13 (2) "Certified dealer" means: a primary reporting dealer recognized by the Federal Reserve Bank of New York who is certified by the director as having met the appl…

51-7-3.5. State fiscal year. The fiscal year of the state of Utah shall commence on the first day of July of each year.

51-7-4. Transfer of functions, powers, and duties relating to public funds to state treasurer -- Exceptions -- Deposit of income from investment of state money. (1) Unless otherwise required by the Utah Constitution or applicable federal law, the functions, powers, and duties ves…

51-7-5. Public Treasurers' Investment Fund -- Transfer of public funds not otherwise required to be transferred to state treasurer -- Duties of public treasurers -- Withdrawals of transferred funds -- Reporting. (1) Any public funds as to which the deposit, investment, or reinves…

51-7-6. Public Treasurers' Investment Fund -- Calculation of shares of participating funds -- Allocations of income to participating funds. (1) The share of public funds of each participating public treasurer who has transferred public funds to the Public Treasurers' Investment F…

51-7-7. Securities and evidence of deposits and investments -- Custody -- Deposit for safekeeping. (1) The public treasurer shall have custody of all securities purchased or held and all evidence of deposits and investments of public funds. All securities shall be delivered versu…

51-7-8. Separate accounts for funds -- Credit of allocated shares of income and gains or losses. The state treasurer shall keep for each fund for which investments are made, a separate account, to be designated by name and number, which shall record the individual amounts and the…

51-7-9. Quarterly reports by state treasurer -- Audit of accounts of state treasurer -- Report of audit -- Employment of investment staff and services. The state treasurer shall report not less often than quarterly to each participating state officer, board, commission, instituti…