Utah Code 53D-1-501. Nominating committee — Membership — Terms — Vacancies — Compensation
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(1) There is established a School and Institutional Trust Fund Nominating Committee.
Terms Used In Utah Code 53D-1-501
- advocacy office: means the Land Trusts Protection and Advocacy Office created in Section 53D-2-201. See Utah Code 53D-1-102
- 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
- Director: means the director of the office. See Utah Code 53D-1-102
- Nominating committee: means the committee established under Section 53D-1-501. See Utah Code 53D-1-102
- Office: means the School and Institutional Trust Fund Office, created in Section 53D-1-201. See Utah Code 53D-1-102
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- 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
- 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) The nominating committee consists of:(2)(a) four members, appointed by the state treasurer upon recommendation by the advocacy office director, each of whom is a member of a respected professional investment organization;(2)(b) the chief investment officer of the University of Utah endowment;(2)(c) the chief investment officer of the Utah State University endowment; and(2)(d) the advocacy office director.(3) An individual appointed as a member of the nominating committee under Subsection (2)(a) shall be appointed based on the individual’s expertise in:(3)(a) investment finance;(3)(b) institutional asset management;(3)(c) trust administration; or(3)(d) the practice of law in the areas of capital markets, securities law, trusts, foundations, endowments, investment finance, institutional asset management, or trust administration.(4) The term of a member appointed under Subsection (2)(a) is four years.(5) A nominating committee member shall serve until a successor is appointed and qualified.(6)(6)(a) If a member appointed under Subsection (2)(a) leaves office, the vacancy shall be filled in the same manner as the initial appointment under Subsection (2)(a).(6)(b) An individual appointed to fill a vacancy under Subsection (6)(a) serves the remainder of the unexpired term.