Title 63E, Title 63E: Independent Entities Code

63E-1-202. Duties of the committee. (1) The committee shall: study the scope of this title and determine what entities should be treated under this title as independent entities; review annually new entities created by the state and entities registered as independent entities pur…

63E-1-301. Definitions. As used in this part, "government requestor" means: (1) the governor; (2) an executive branch officer other than the governor; (3) an executive branch agency; (4) a legislator, including a legislative sponsor of legislation creating an independent entity; …

63E-1-302. Review by committee required for creating an independent entity. (1) If a government requestor proposes that the Legislature create an independent entity, that government requestor shall request that the committee review the proposal. (2) After receiving a request for …

63E-1-303. Recommendations of the committee. After the committee has reviewed a proposal to create an independent entity in accordance with Section, the committee shall make a report to the Legislature stating whether the committee: (1) recommends creation of the proposed indepen…

63E-1-304. Limitations on risk management coverage. (1) Except as specifically modified in its authorizing statute, an independent entity is not eligible to receive coverage under the Risk Management Fund created by Sectionor any captive insurance company created by the risk mana…

63E-1-401. Definitions. As used in this part: (1) "Asset" means property of all kinds, real and personal, tangible and intangible, and includes: cash, except reasonable compensation or salary for services rendered; stock or other investments; goodwill; real property; an ownership…

63E-1-402. Benefits to interested parties of an independent entity -- Disposition of unused appropriations. (1) If an independent entity is privatized, the following may not receive any benefit prohibited under Subsection: (2) an interested party of the independent entity; an ent…

63E-1-403. Privatization process -- Audit. (1) If an independent entity seeks to privatize the independent entity, it shall: submit to the Legislature recommended legislation to: repeal the authorizing statute and revise state law as necessary to terminate its relationship to the…

63E-1-404. Penalties for violation. (1) A person who knowingly violates this part: is guilty of a third degree felony if the combined value of any compensation or assets received by the person as a result of the violation is equal to or greater than $10,000; or is guilty of a cla…

63E-2-101. Title. This chapter is known as the "Independent Corporations Act."

63E-2-102. Independent corporations. An independent corporation is granted a franchise to incorporate in this state in accordance with this title and its authorizing statute.

63E-2-103. Public purpose -- Legislative findings. (1) Each independent corporation shall have a specific public purpose related to the state or its citizens stated in its authorizing statute. (2) Prior to enacting its authorizing statute, the Legislature shall make a finding tha…

63E-2-104. Legislative review. (1) Each independent corporation is subject to: review by the Retirement and Independent Entities Committee in accordance with; and Chapter 1, Independent Entities Act the authority of the legislative auditor general in accordance with, and Section.…

63E-2-105. Boards. (1) As used in this section, "director" includes a trustee or other board member. (2) Each independent corporation shall be governed by a board of directors. (3) The authorizing statute of each independent corporation shall specify: the process for appointing, …

63E-2-106. Powers. Except as specifically modified in its authorizing statute, each independent corporation shall have the power to: (1) exist as a: public corporation; or quasi-public corporation; (2) perform its stated public purpose; (3) sue and be sued in its own name; (4) re…

63E-2-107. Prohibited participation. Except as specifically modified in its authorizing statute, each independent corporation may not participate in the: (1) issuance of bonds that are the obligation of the state; or (2) services provided to state agencies, including: fuel dispen…

63E-2-108. Eligible participation. Except as specifically modified in its authorizing statute, each independent corporation may participate in the state retirement system.

63E-2-109. State statutes. (1) Except as specifically modified in its authorizing statute, each independent corporation shall be exempt from the statutes governing state agencies, including:; Title 51, Chapter 5, Funds Consolidation Act; Title 51, Chapter 7, State Money Managemen…

63E-2-110. Budgetary and fiscal requirements. (1) The board of each independent corporation shall annually adopt a budget. (2) All money held in trust by an independent corporation is not public funds, even if they were public funds before the money was received by the independen…

63E-2-111. State liability. Except as expressly provided in this title or in an authorizing statute, the state is not liable for any independent corporation's obligations, expenses, debts, and liabilities.