53H-16-404. Nucleus Fund investment committee duties.

154 words·~1 min read·/ut/title-53h/chapter-16/53h-16-404

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

Effective 7/1/2026

(1)The investment committee shall:

(a)comply with guidelines and directives from the institute board;

(b)manage and conduct business affairs of the Nucleus Fund;

(c)establish policies for the management of the Nucleus Fund, including:

(i)an investment management code of conduct and associated compliance policy;

(ii)a policy for the strategic allocation of Nucleus Fund assets; and

(iii)a policy articulating the investment committee's investment philosophy for Nucleus Fund assets; and

(d)ensure that policies adopted by the investment committee are:

(i)consistent with this chapter, the Utah Constitution, and other applicable law;

(ii)consistent with sound fiduciary principles; and

(iii)designed to maintain the integrity of the Nucleus Fund and prevent the misapplication of money in the Nucleus Fund.

(2)The investment committee shall engage a third-party to audit the Nucleus Fund at least annually.

Amended by Chapter 138 , 2026 General Session