Utah Code 11-42-706. Validation of prior guaranty fund or reserve fund proceedings
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(1) Subject to Subsection (2), all proceedings before April 30, 2007 related to the creation, maintenance, and use of a guaranty fund or reserve fund are validated, ratified, and confirmed.
Terms Used In Utah Code 11-42-706
- Guaranty fund: means the fund established by a local entity under Section
11-42-701 . See Utah Code 11-42-102 - Reserve fund: means a fund established by a local entity under Section
11-42-702 . See Utah Code 11-42-102
(2) Nothing in this section may be construed to affect the validity of a guaranty fund or reserve fund whose legality is being contested on April 30, 2007.