There is a newer version of the Utah Code
2023
2022
2021
2020
2019
Other previous versions
View our newest version here

2016 Utah Code
Title 63N - Governor's Office of Economic Development
Chapter 6 - Utah Venture Capital Enhancement Act
Part 4 - Utah Fund of Funds
Section 404 - Powers of Utah fund of funds.

UT Code § 63N-6-404 (2016) What's This?
Effective 5/12/2015
63N-6-404. Powers of Utah fund of funds.
  • (1) The Utah fund of funds may:
    • (a) engage consultants and legal counsel;
    • (b) expend funds;
    • (c) invest funds;
    • (d) issue debt and borrow funds;
    • (e) enter into contracts;
    • (f) insure against loss;
    • (g) hire employees;
    • (h) issue equity interests to designated investors that have purchased equity interest certificates from the board; and
    • (i) perform any other act necessary to carry out its purposes.
  • (2)
    • (a) The Utah fund of funds shall engage a venture capital investment fund allocation manager.
    • (b) The compensation paid to the fund manager shall be in addition to the management fee paid to the corporation under Section 63N-6-305.
  • (3) The Utah fund of funds may:
    • (a) open and manage bank and short-term investment accounts as considered necessary by the venture capital investment fund allocation manager; and
    • (b) expend money to secure investment ratings for investments by designated investors in the Utah fund of funds.


Renumbered and Amended by Chapter 283, 2015 General Session

Disclaimer: These codes may not be the most recent version. Utah may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.