51-7-2. Exemptions from chapter.

491 words·~2 min read·/ut/title-51/chapter-7/51-7-2

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Effective 10/14/2025

(1)Except as provided in Subsection

(2), the following funds are exempt from this chapter:

(a)funds invested in accordance with the participating employees' designation or direction pursuant to a public employees' deferred compensation plan established and operated in compliance with Section 457 of the Internal Revenue Code of 1986, as amended;

(b)funds of the Utah State Retirement Board;

(c)funds of the Utah Housing Corporation;

(d)endowment funds of higher education institutions, including funds of the Higher Education Student Success Endowment, created in Section 53H-8-402 ;

(e)permanent and other land grant trust funds established pursuant to the Utah Enabling Act and the Utah Constitution;

(f)the State Post-Retirement Benefits Trust Fund;

(g)the funds of the Utah Educational Savings Plan;

(h)funds of the permanent state trust fund created by and operated under Utah

Constitution, Article XXII, Section 4;

(i)the funds in the Navajo Trust Fund;

(j)the funds in the Radioactive Waste Perpetual Care and Maintenance Account;

(k)the funds in the Employers' Reinsurance Fund;

(l)the funds in the Uninsured Employers' Fund;

(m)the Utah State Developmental Center Long-Term Sustainability Fund, created in Section 26B-1-331 ;

(n)the funds in the Risk Management Fund created in Section 63A-4-201 ;

(o)the Utah fund of funds created in Section 63N-6-401 ;

(p)the funds deposited into the Utah Homes Investment Program from the Transportation Infrastructure General Fund Support Subfund created in Section 72-2-134 ;

(q)subject to Subsection 67-4-19(2) , the portion of the funds in the following accounts invested by the state treasurer in precious metals:

(i)the State Disaster Recovery Restricted Account, created in Section 53-2a-603 ;

(ii)the General Fund Budget Reserve Account, created in Section 63J-1-312 ;

(iii)the Income Tax Fund Budget Reserve Account, created in Section 63J-1-313 ; and

(iv)the Medicaid Growth Reduction and Budget Stabilization Account, created in Section 63J-1-315 ;

(r)except as provided in Section 11-13-533 , the funds of a public agency insurance mutual as that term is defined in Subsection 31A-1-103 (7)(a);

(s)the State Sovereignty Fund created in Section 51-13-201 ; and

(t)the funds in the Opioid Litigation Proceeds Fund, created in Section 51-9-801 .

(2)Except for the funds of the Utah State Retirement Board and the Utah Educational Savings Plan, the funds described in Subsection

(1)are not exempt from Subsections 51-7-14

(2)and (3).

(3)Notwithstanding Title 52, Chapter 4 , Open and Public Meetings Act, a public body that administers a fund described in Subsection

(1)may hold a closed meeting to discuss the sale or purchase of identifiable securities, investment funds, or investment contracts.

(4)A paper, electronic, or other depiction or record of information relating to investment activities of a fund described in Subsection

(1)is not subject to Title 63G, Chapter 2 , Government Records Access and Management Act.

Amended by Chapter 9 , 2025 Special Session 1