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Utah Code Title 63N. Economic Opportunity Act § 63N-6-303. Board of directors

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

(1) The corporation's board of directors comprises the state treasurer and two individuals designated by the state treasurer.

(2) Two members of the board are a quorum for the transaction of business.

(3) Members of the board of directors:

(a) are subject to any restrictions on conflicts of interest specified in the organizational documents of the corporation; and

(b) may not participate in a vote by the board of directors related to an investment by the Utah fund of funds, if the member has an interest in the investment.

(4) Directors of the corporation:

(a) shall be compensated for direct expenses and mileage; and

(b) may not receive a director's fee or salary for service as directors.

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Cite this article: FindLaw.com - Utah Code Title 63N. Economic Opportunity Act § 63N-6-303. Board of directors - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-63n-economic-opportunity-act/ut-code-sect-63n-6-303/

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.

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