The Division of Finance shall account for the receipt and expenditures of trust fund money.
(4)
(a)
The state treasurer shall invest trust fund money by following the procedures and requirements of Part 3, Trust Fund Investments.
(b)
(i)
The trust fund shall earn interest.
(ii)
The state treasurer shall deposit all interest or other income earned from investment of the trust fund back into the trust fund.
(5)
The board of trustees created in Section 67-19d-202 may expend money from the trust fund for:
(a)
the employer portion of the costs of the programs established in Sections 63A-17-505 through 63A-17-508; and
(b)
reasonable administrative costs that the board of trustees incurs in performing their duties as trustees of the trust fund.
(6)
The board of trustees shall ensure that:
(a)
money deposited into the trust fund is irrevocable and is expended only for the employer portion of the costs of post-retirement benefits;
(b)
assets of the trust fund are dedicated to providing benefits to retirees and their beneficiaries according to the terms of the post-retirement benefit plans established by statute and rule; and
(c)
creditors of the board of trustees and of employers liable for the post-retirement benefits may not seize, attach, or otherwise obtain assets of the trust fund.
(7)
When all of the liabilities for which the trust fund was created are paid, the Division of Finance shall transfer any assets remaining in the state trust fund into the appropriate fund.
Section 19d-201 ("Trust fund -- Creation -- Oversight -- Dissolution.") 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 § 19d-201?
A common citation format is "Utah Code § 19d-201" (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 § 19d-201 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.
