Utah Code 9-8-704. Society duties
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The society shall, according to policy established by the board:
(1) allocate money from funds made available for that purpose to the endowment fund created by a qualifying organization under Section 9-8-703;
Terms Used In Utah Code 9-8-704
- Board: means the Board of State History. See Utah Code 9-8-102
- Endowment fund: means any history endowment fund created under this part by a qualifying organization. See Utah Code 9-8-701
- Qualifying organization: means any Utah nonprofit history organization or local government that qualifies under this chapter to create an endowment fund, receive state money into the endowment fund, match state money deposited into the endowment fund, and expend interest earned on the endowment fund. See Utah Code 9-8-701
- Society: means the Utah Historical Society created in Section 9-8-201. See Utah Code 9-8-102
(2) determine the eligibility of each qualifying organization to receive money from funds made available for that purpose into the endowment fund of the qualifying organization;
(3) determine the matching amount each qualifying organization must raise in order to qualify to receive money from funds made available for that purpose;
(4) establish a date by which each qualifying organization must provide the qualifying organization’s matching funds;
(5) verify that matching funds have been provided by each qualifying organization by the date determined in Subsection (4); and
(6) in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, make rules establishing criteria for determining the eligibility of qualifying organizations to receive money from funds made available for that purpose.