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Utah Code Title 51. Public Funds and Accounts § 51-7b-202. Prudent investor standard--Determining whether standard met

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) The state treasurer shall invest and manage the permanent state trust fund assets as a prudent investor would, by:

(a) considering the purposes, terms, distribution requirements, and other circumstances of the permanent state trust fund; and

(b) exercising reasonable care, skill, and caution in order to meet the standard of care of a prudent investor.

(2) In determining whether the state treasurer has met the standard of care of a prudent investor, a finder of fact shall:

(a) consider the state treasurer's investment decision or action in light of the facts and circumstances existing at the time of the decision or action, and not by hindsight; and

(b) evaluate the state treasurer's investment and management decisions respecting individual assets:

(i) not in isolation, but in the context of the permanent state trust fund portfolio as a whole; and

(ii) as a part of an overall investment strategy that has risk and return objectives reasonably suited to the permanent state trust fund.

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Cite this article: FindLaw.com - Utah Code Title 51. Public Funds and Accounts § 51-7b-202. Prudent investor standard--Determining whether standard met - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-51-public-funds-and-accounts/ut-code-sect-51-7b-202/

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