63N-6-303. Board of directors.
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Effective 7/1/2022
63N-6-303. Board of directors.
(1)The corporation's board of directors comprises the state treasurer and two individuals designated by the state treasurer.
(2)Two members of the board are a quorum for the transaction of business.
(3)Members of the board of directors:
(a)are subject to any restrictions on conflicts of interest specified in the organizational documents of the corporation; and
(b)may not participate in a vote by the board of directors related to an investment by the Utah fund of funds, if the member has an interest in the investment.
(4)Directors of the corporation:
(a)shall be compensated for direct expenses and mileage; and
(b)may not receive a director's fee or salary for service as directors.
Amended by Chapter 298 , 2022 General Session