Utah Code Title 53D. School and Institutional Trust Fund Management and Land Trusts Protection and Advocacy Office § 53D-1-603. Director authority, responsibilities, and duties

(1)(a) The director may delegate to an external agent the management of a portion of the trust fund money or assets, if the delegation is prudent under the circumstances and consistent with the purposes of the trust fund.

(b) The director shall periodically review the actions of an agent under Subsection (1)(a) in order to monitor the agent's performance and compliance with the scope and terms of the delegation.

(a) selecting an agent;

(b) establishing the scope and terms of a delegation under Subsection (1); and

(c) periodically reviewing the agent's actions, as provided in Subsection (1)(b).