Learn About The Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2025 | Updated by Findlaw Staff
(1) Except as provided in Subsection (2), the following funds are exempt from this chapter:
(a) funds invested in accordance with the participating employees' designation or direction pursuant to a public employees' deferred compensation plan established and operated in compliance with Section 457 of the Internal Revenue Code of 1986, as amended;
(b) funds of the Utah State Retirement Board;
(c) funds of the Utah Housing Corporation;
(d) endowment funds of higher education institutions, including funds of the Higher Education Student Success Endowment, created in Section 53B-7-802;
(e) permanent and other land grant trust funds established pursuant to the Utah Enabling Act and the Utah Constitution;
(f) the State Post-Retirement Benefits Trust Fund;
(g) the funds of the Utah Educational Savings Plan;
(h) funds of the permanent state trust fund created by and operated under Utah Constitution, Article XXII, Section 4;
(i) the funds in the Navajo Trust Fund;
(j) the funds in the Radioactive Waste Perpetual Care and Maintenance Account;
(k) the funds in the Employers' Reinsurance Fund;
(l) the funds in the Uninsured Employers' Fund;
(m) the Utah State Developmental Center Long-Term Sustainability Fund, created in Section 26B-1-331;
(n) the funds in the Risk Management Fund created in Section 63A-4-201;
(o) the Utah fund of funds created in Section 63N-6-401;
(p) the funds deposited into the Utah Homes Investment Program from the Transportation Infrastructure General Fund Support Subfund created in Section 72-2-134; and
(q) subject to Subsection 67-4-19(2), the portion of the funds in the following accounts invested by the state treasurer in precious metals:
(i) the State Disaster Recovery Restricted Account, created in Section 53-2a-603;
(ii) the General Fund Budget Reserve Account, created in Section 63J-1-312;
(iii) the Income Tax Fund Budget Reserve Account, created in Section 63J-1-313; and
(iv) the Medicaid Growth Reduction and Budget Stabilization Account, created in Section 63J-1-315.
(2) Except for the funds of the Utah State Retirement Board and the Utah Educational Savings Plan, the funds described in Subsection (1) are not exempt from Subsections 51-7-14(2) and (3).
(3) Notwithstanding Title 52, Chapter 4, Open and Public Meetings Act, a public body that administers a fund described in Subsection (1) may hold a closed meeting to discuss the sale or purchase of identifiable securities, investment funds, or investment contracts.
(4) A paper, electronic, or other depiction or record of information relating to investment activities of a fund described in Subsection (1) is not subject to Title 63G, Chapter 2, Government Records Access and Management Act.
Cite this article: FindLaw.com - Utah Code Title 51. Public Funds and Accounts § 51-7-2. Exemptions from chapter - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-51-public-funds-and-accounts/ut-code-sect-51-7-2/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)