53D-1-304. Board meetings -- Closed meetings.
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Effective 5/5/2021
53D-1-304. Board meetings -- Closed meetings.
(1)The board shall hold at least four meetings per year to conduct business.
(2)The board chair or two board members:
(a)may call a board meeting; and
(b)if calling a board meeting, shall provide as much advance notice as is reasonable under the circumstances to all board members, the director, and the advocacy office director.
(3)Any board member may place an item on a board meeting agenda.
(4)The board shall adopt a set of parliamentary procedures to govern board meetings.
(5)The board may establish an attendance policy to govern the attendance of board members at board meetings.
(a)Notwithstanding Subsection 52-4-204(2) or 52-4-205(1) , and in addition to the reasons to close a meeting described in Section 52-4-205 , the board may hold a closed meeting to discuss the sale or purchase of identifiable securities, investment funds, or investment contracts if:
(i)the board, the director, or the office has entered into a confidentiality agreement related to the identifiable securities, investment funds, or investment contracts; and
(ii)two-thirds of the members present when a quorum is present vote to close the meeting for the purpose described in this Subsection (6)(a) .
(b)If the board closes a meeting in accordance with Subsection (6)(a) , the board shall comply with the requirements for closed meetings described in Title 52, Chapter 4, Open and Public Meetings Act .
Amended by Chapter 336 , 2021 General Session