UTAH CODE (Last Updated: January 16, 2015) |
Title 63M. Governor's Programs |
Chapter 1. Governor's Office of Economic Development |
Part 12. Utah Venture Capital Enhancement Act |
§ 63M-1-1216. Powers of Utah fund of funds.
Latest version.
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(2) (a) The Utah fund of funds shall engage a venture capital investment fund allocation manager. (b) The compensation paid to the fund manager shall be in addition to the management fee paid to the corporation under Section 63M-1-1211. (3) The Utah fund of funds may: (a) open and manage bank and short-term investment accounts as considered necessary by the venture capital investment fund allocation manager; and (b) expend money to secure investment ratings for investments by designated investors in the Utah fund of funds.