UTAH CODE (Last Updated: January 16, 2015) |
Title 53D. School and Institutional Trust Fund |
Chapter 1. School and Institutional Trust Fund Management Act |
Part 6. Management and Investment Standards and Principles |
§ 53D-1-601. General management and investment principles -- Duty of person with special skills or expertise. (Effective 7/1/2014)
Latest version.
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(1) Board members, the director, and office staff shall act in the best interests of the beneficiaries and comply with the duty of undivided loyalty to the beneficiaries. (3) A person who has special skills or expertise, or who is selected to assist in managing and investing the trust fund money or assets based on the person's representation of having special skills or expertise, has a duty to use those skills and that expertise in managing and investing trust fund money and assets.
Enacted by Chapter 426, 2014 General Session