53D-2-301. Advocacy office governance -- State treasurer role and duties.
200 words·~1 min read·
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Effective 7/1/2026
53D-2-301. Advocacy office governance -- State treasurer role and duties.
(1)The advocacy council, established in Section 53D-2-302 , and the state treasurer govern the advocacy office with separate and distinct responsibilities enumerated in this chapter.
(2)The state treasurer, acting in a fiduciary capacity to the trust beneficiaries, shall:
(a)appoint an advocacy director, as provided in Section 53D-2-401 ;
(b)oversee and provide administrative support to the advocacy office;
(c)verify compliance with reporting requirements for the advocacy director;
(d)submit an advocacy office budget to the Legislature; and
(e)have authority to approve a requested reduction in the annual distribution for an institutional beneficiary under the conditions described in Subsection 53D-2-501(4)(f) , after consultation with the trust beneficiary and the advocacy director.
(3)A cause of action may not be maintained against the state treasurer for an act or omission made in the course of exercising a duty under this chapter if:
(a)the act or omission is taken in good faith; and
(b)the act or omission is taken in a manner the treasurer reasonably believes to be in the best interests of the trust beneficiaries.
Enacted by Chapter 214 , 2026 General Session