Full text of Utah Utah Code § 2a-607 — Creation and administration., with citation guidance and answers to common questions.
§ 2a-607. Creation and administration.
Effective 5/10/2016 53-2a-607.
Creation and administration.
(1)
(a)
There is created an enterprise fund known as the Local Government Emergency Response Loan Fund.
(b)
The division as defined in Section 53-2a-103 is the administrator of the fund.
(2)
The fund consists of:
(a)
money appropriated to the fund by the Legislature;
(b)
money received for the repayment of loans made from the fund;
(c)
interest earned on the fund; and
(d)
money deposited into the fund in accordance with Section 63J-1-314.
(3)
The money in the fund shall be invested by the state treasurer according to the procedures and requirements of Title 51, Chapter 7, State Money Management Act, except that all interest or other earnings derived from money in the fund shall be deposited into the fund.
(4)
Local government entities may apply through the division for a short-term loan from the fund for the purposes provided in Section 53-2a-608, provided that the local government entity:
(a)
agrees to the terms of the loan; and
(b)
is not in default on any other state loans administered by the Division of Finance or any other state agency.
(5)
The division may not loan out:
(a)
more than 50% of the total account balance available at the time that a loan request is made by a local government entity; or
(b)
an amount that will leave the fund balance at less than $10,000,000.
Section 2a-607 ("Creation and administration.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Utah § 2a-607?
A common citation format is "Utah Code § 2a-607" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 2a-607 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.
