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Utah Code Title 9. Cultural and Community Engagement § 9-8-707. Spending restrictions--Return of endowment

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

(1) A qualifying organization that has received endowment money from funds made available for that purpose:

(a) may not expend the money or the required matching money in the endowment fund; and

(b) may expend the interest income earned on the money in the endowment fund.

(2) If a qualifying organization expends money in violation of Subsection (1), the qualifying organization shall return the amount of money allocated by the society under this part to the Division of Finance.

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Cite this article: FindLaw.com - Utah Code Title 9. Cultural and Community Engagement § 9-8-707. Spending restrictions--Return of endowment - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-9-cultural-and-community-engagement/ut-code-sect-9-8-707/

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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