Utah Code 53G-5-409. Regulated transactions and relationships — Definitions — Rulemaking
Current as of: 2024 | Check for updates
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(1) As used in this section:
Terms Used In Utah Code 53G-5-409
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Father: means a parent who is of the male sex. See Utah Code 68-3-12.5
- Mother: means a parent who is of the female sex. See Utah Code 68-3-12.5
- Person: means :(24)(a) an individual;(24)(b) an association;(24)(c) an institution;(24)(d) a corporation;(24)(e) a company;(24)(f) a trust;(24)(g) a limited liability company;(24)(h) a partnership;(24)(i) a political subdivision;(24)(j) a government office, department, division, bureau, or other body of government; and(24)(k) any other organization or entity. 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
- Writing: includes :
(48)(a) printing;(48)(b) handwriting; and(48)(c) information stored in an electronic or other medium if the information is retrievable in a perceivable format. See Utah Code 68-3-12.5(1)(a) “Charter school officer” means:(1)(a)(i) a member of a charter school’s governing board;(1)(a)(ii) a member of a board or an officer of a nonprofit corporation under which a charter school is organized and managed; or(1)(a)(iii) the chief administrative officer of a charter school.(1)(b)(1)(b)(i) “Employment” means a position in which a person‘s salary, wages, pay, or compensation, whether as an employee or contractor, is paid from charter school funds.(1)(b)(ii) “Employment” does not include a charter school volunteer.(1)(c) “Relative” means a father, mother, husband, wife, son, daughter, sister, brother, uncle, aunt, nephew, niece, first cousin, mother-in-law, father-in-law, brother-in-law, sister-in-law, son-in-law, or daughter-in-law.(2)(2)(a) Except as provided in Subsection (2)(b), a relative of a charter school officer may not be employed at a charter school.(2)(b) If a relative of a charter school officer is to be considered for employment in a charter school, the charter school officer shall:(2)(b)(i) disclose the relationship, in writing, to the other charter school officers;(2)(b)(ii) submit the employment decision to the charter school’s governing board for the approval, by majority vote, of the charter school’s governing board;(2)(b)(iii) abstain from voting on the issue; and(2)(b)(iv) be absent from the portion of the meeting where the employment is being considered and determined.(3)(3)(a) Except as provided in Subsections (3)(b) and (3)(c), a charter school officer or a relative of a charter school officer may not have a financial interest in a contract or other transaction involving a charter school in which the charter school officer serves as a charter school officer.(3)(b) If a charter school’s governing board considers entering into a contract or executing a transaction in which a charter school officer or a relative of a charter school officer has a financial interest, the charter school officer shall:(3)(b)(i) disclose the financial interest, in writing, to the other charter school officers;(3)(b)(ii) submit the contract or transaction decision to the charter school’s governing board for the approval, by majority vote, of the charter school’s governing board;(3)(b)(iii) abstain from voting on the issue; and(3)(b)(iv) be absent from the portion of the meeting where the contract or transaction is being considered and determined.(3)(c) The provisions in Subsection (3)(a) do not apply to a reasonable contract of employment for:(3)(c)(i) the chief administrative officer of a charter school; or(3)(c)(ii) a relative of the chief administrative officer of a charter school whose employment is approved in accordance with the provisions in Subsection (2).(4) The state board or State Charter School Board may not operate a charter school.