Utah Code 17B-2a-1304. Board of trustees — Conflict of interest — Compensation
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(1) A board member with a personal investment described in Section 67-16-9 is not in violation of Section 67-16-9 if:
Terms Used In Utah Code 17B-2a-1304
- Board: means the board of trustees of an infrastructure financing district. See Utah Code 17B-2a-1301
- Governing document: means a document described in Section
17B-2a-1303 . See Utah Code 17B-2a-1301 - Infrastructure financing district: means a special district that operates under and is subject to the provisions of this chapter and Chapter 2a, Part 13, Infrastructure Financing Districts. See Utah Code 17B-1-102
(1)(a) before beginning service as a board member, the board member complies with the disclosure requirements of Section 67-16-7 , as though that section applied to the board member’s ownership of a personal investment described in Section 67-16-9 ; and
(1)(b) during the board member’s service, the board member complies with:
(1)(b)(i) the disclosure requirements of Section 67-16-7 , as provided in Subsection (1)(a), upon any significant change in the board member’s personal investment; and
(1)(b)(ii) applicable requirements of this part and the governing document.
(2) An infrastructure financing district may not compensate a board member for the member’s service on the board unless the board member is a resident within the boundary of the infrastructure financing district.