Utah Code 53D-1-401. Appointment of director — Qualifications — Nature of employment — Removal by petition
Current as of: 2024 | Check for updates
|
Other versions
(1) The office shall be managed by a director.
Terms Used In Utah Code 53D-1-401
- Advocacy office director: means the director of the Land Trusts Protection and Advocacy Office, appointed under Section 53D-2-203. See Utah Code 53D-1-102
- Board: means the board of trustees established in Section 53D-1-301. See Utah Code 53D-1-102
- Director: means the director of the office. See Utah Code 53D-1-102
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Office: means the School and Institutional Trust Fund Office, created in Section 53D-1-201. See Utah Code 53D-1-102
- Trust fund: means money derived from:(10)(a) the sale or use of land granted to the state under Sections 6, 8, and 12 of the enabling act;(10)(b) proceeds referred to in Section 9 of the enabling act from the sale of public land; and(10)(c) revenue and assets referred to in Utah Constitution, Article X, Section 5, Subsections
(1)(c) ,(e) , and(f) . See Utah Code 53D-1-102(2) If there is a vacancy in the director position, the board shall appoint an individual as director.(3) The board shall ensure that an individual appointed as director possesses:(3)(a) outstanding professional qualifications pertinent to the prudent investment of trust fund money; and(3)(b) expertise in institutional investment management.(4) The director is an at-will employee who may be removed by the board at any time with or without cause.(5)(5)(a) The advocacy office director may submit a written petition to the board requesting the board to remove the director for cause, explained in the petition.(5)(b) The board shall hold a hearing on a petition under Subsection (5)(a) within 45 days after receiving the petition.(5)(c) If, after holding a hearing, the board finds by a preponderance of the evidence that there is cause for removing the director, the board shall remove the director.