Utah Code 63N-3-801. Creation and administration
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(1) There is created an enterprise fund known as the “State Small Business Credit Initiative Program Fund” administered by the office.
Terms Used In Utah Code 63N-3-801
- Administrator: includes "executor" when the subject matter justifies the use. See Utah Code 68-3-12.5
- Executive director: means the executive director of the office. See Utah Code 63N-1a-102
- 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
(2) The executive director or the executive director’s designee is the administrator of the fund.
(3) Revenues deposited into the fund shall consist of:
(3)(a) grants, pay backs, bonuses, entitlements, and other money received from the federal government to implement the State Small Business Credit Initiative; and
(3)(b) transfers, grants, gifts, bequests, and other money made available from any source to implement this part.
(4)
(4)(a) The state treasurer shall invest the money in the fund according to the procedures and requirements of Title 51, Chapter 7, State Money Management Act.
(4)(b) Interest and other earnings derived from the fund money shall be deposited in the fund.
(5) The office may use fund money for administration of the fund.