Superseded 7/1/2026
229 words·~1 min read·
/ut/title-53h/chapter-16/7-5A 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Superseded 7/1/2026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-16-304. Executive director appointment -- Duties and powers.
(1)The commissioner shall appoint an executive director for the institute.
(2)The executive director shall serve as the chair of the institute board as described in Section 53H-16-302 .
(3)The executive director shall:
(a)manage the day-to-day operations of the institute and the Utah innovation fund;
(b)execute the policies of the institute board;
(c)oversee the investment and expenditure of funds;
(d)oversee qualified investments made by the Utah innovation fund;
(e)assess reasonable fees for management of assets in the Utah innovation fund for reasonable costs of the Utah innovation fund;
(f)consult with the institute board regarding policies and direction of the institute;
(g)prepare an operating budget for the institute and submit the operating budget to the Utah Board of Higher Education for approval;
(h)adopt a budget submitted by the chair of the investment committee;
(i)establish job descriptions and, within budgetary constraints, employ staff necessary to accomplish the purposes of the institute and Utah innovation fund; and
(j)execute other duties as assigned by the institute board.
(4)The executive director may:
(a)hire and supervise necessary staff for the institute;
(b)manage contracts and collaborations with consultants; and
(c)enter into contracts on behalf of the institute.
Renumbered and Amended by Chapter 8 , 2025 Special Session 1