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Code · Utah · Title 53H — Higher Education · Chapter 16

Superseded 7/1/2026

210 words·~1 min read·/ut/title-53h/chapter-16/7

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

Effective 10/14/2025
Superseded 7/1/2026
53H-16-201. General provisions -- Definitions.
As used in this part:
(1)"Executive director" means the executive director of the institute appointed under Section 53H-16-304 .
(2)"Institute board" means the board of directors of the Nucleus Institute as described in Section 53H-16-302 .
(3)"Investment committee" means the investment committee of the Utah innovation fund created in Section 53H-16-403 .
(4)"Nucleus Institute" or "institute" means the Nucleus Institute created in Section 53H-16-202 .
(5)"Qualified business" means a business entity that:
(a)is established to commercialize a technology, product, or service developed in partnership with a technology commercialization program at a public institution orprivate postsecondary educational institution in the state; and
(b)maintains the business's principal business operations in the state.
(6)"Qualified investment" means any distribution or payment of funds to a qualified business from the Utah innovation fund, including:
(a)a direct investment of capital in a qualified business for the purchase of shares of stock;
(b)a secured loan or revolving line of credit to a qualified business; or
(c)a financial grant to a qualified business.
(7)"Utah innovation fund" means a limited liability company organized under Section 53H-16-402 .
Renumbered and Amended by Chapter 8 , 2025 Special Session 1
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