(1) Except as provided in Subsection (2), the following funds are exempt from this chapter:

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Terms Used In Utah Code 51-7-2

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Endowment funds: means gifts, devises, or bequests of property of any kind donated to a higher education institution from any source. See Utah Code 51-7-3
  • Land: includes :
         (18)(a) land;
         (18)(b) a tenement;
         (18)(c) a hereditament;
         (18)(d) a water right;
         (18)(e) a possessory right; and
         (18)(f) a claim. See Utah Code 68-3-12.5
  • State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
     (1)(a) funds invested in accordance with the participating employees’ designation or direction pursuant to a public employees’ deferred compensation plan established and operated in compliance with Section 457 of the Internal Revenue Code of 1986, as amended;
     (1)(b) funds of the Utah State Retirement Board;
     (1)(c) funds of the Utah Housing Corporation;
     (1)(d) endowment funds of higher education institutions, including funds of the Higher Education Student Success Endowment, created in Section 53B-7-802;
     (1)(e) permanent and other land grant trust funds established pursuant to the Utah Enabling Act and the Utah Constitution;
     (1)(f) the State Post-Retirement Benefits Trust Fund;
     (1)(g) the funds of the Utah Educational Savings Plan;
     (1)(h) funds of the permanent state trust fund created by and operated under Utah

Constitution, Article XXII, Section 4;

     (1)(i) the funds in the Navajo Trust Fund;
     (1)(j) the funds in the Radioactive Waste Perpetual Care and Maintenance Account;
     (1)(k) the funds in the Employers’ Reinsurance Fund;
     (1)(l) the funds in the Uninsured Employers’ Fund;
     (1)(m) the Utah State Developmental Center Long-Term Sustainability Fund, created in Section 26B-1-331;
     (1)(n) the funds in the Risk Management Fund created in Section 63A-4-201;
     (1)(o) the Utah fund of funds created in Section 63N-6-401;
     (1)(p) the funds deposited into the Utah Homes Investment Program from the Transportation Infrastructure General Fund Support Subfund created in Section 72-2-134; and
     (1)(q) subject to Subsection 67-4-19(2), the portion of the funds in the following accounts invested by the state treasurer in precious metals:

          (1)(q)(i) the State Disaster Recovery Restricted Account, created in Section 53-2a-603;
          (1)(q)(ii) the General Fund Budget Reserve Account, created in Section 63J-1-312;
          (1)(q)(iii) the Income Tax Fund Budget Reserve Account, created in Section 63J-1-313; and
          (1)(q)(iv) the Medicaid Growth Reduction and Budget Stabilization Account, created in Section 63J-1-315.
(2) Except for the funds of the Utah State Retirement Board and the Utah Educational Savings Plan, the funds described in Subsection (1) are not exempt from Subsections 51-7-14(2) and (3).
(3) Notwithstanding Title 52, Chapter 4, Open and Public Meetings Act, a public body that administers a fund described in Subsection (1) may hold a closed meeting to discuss the sale or purchase of identifiable securities, investment funds, or investment contracts.
(4) A paper, electronic, or other depiction or record of information relating to investment activities of a fund described in Subsection (1) is not subject to Title 63G, Chapter 2, Government Records Access and Management Act.

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