Utah Code Title 53D. School and Institutional Trust Fund Management and Land Trusts Protection and Advocacy Office § 53D-1-602. Office authority, responsibilities, and duties

(1) In managing and investing trust fund money and assets, the office:

(2) Except as otherwise provided by law, the office may invest in any kind of property or any type of investment that is:

(3) The office shall diversify the investments of trust fund money and assets.

(4) Within a reasonable time after receiving a contribution to the trust fund, the office shall make and carry out decisions concerning the retention or disposition of the contribution or to rebalance the trust fund portfolio, in order to bring the trust fund into compliance with the purposes, terms, and distribution requirements of trust fund money and assets.

(5) The board may delegate any management or investment function to the director, a committee of board members, or an employee of the office.