Utah § 51-7-4 - Transfer of functions, powers, and duties relating to public funds to state treasurer -- Exceptions -- Deposit of income from investment of state money.

Full text of Utah Utah Code § 51-7-4 — Transfer of functions, powers, and duties relating to public funds to state treasurer -- Exceptions -- Deposit of income from investment of state money., with citation guidance and answers to common questions.

§ 51-7-4. Transfer of functions, powers, and duties relating to public funds to state treasurer -- Exceptions -- Deposit of income from investment of state money.

Effective 7/1/2020
51-7-4.  Transfer of functions, powers, and duties relating to public funds to state treasurer -- Exceptions -- Deposit of income from investment of state money.
(1) Unless otherwise required by the Utah Constitution or applicable federal law, the functions, powers, and duties vested by law in each state officer, board, commission, institution, department, division, agency, or other similar instrumentality relating to the deposit, investment, or reinvestment of public funds, and the purchase, sale, or exchange of investments or securities of, or for, funds or accounts under the control and management of each of these instrumentalities, are transferred to and shall be exercised by the state treasurer, except:
(a) funds assigned to the Utah State Retirement Board for investment under Section 49-11-302;
(b) funds of member institutions of the state system of higher education:
(i) acquired by gift, devise, or bequest, or by federal or private contract or grant;
(ii) derived from student fees or from income from operations of auxiliary enterprises, which fees and income are pledged or otherwise dedicated to the payment of interest and principal of bonds issued by an institution of higher education;
(iii) subject to rules made by the council, under Section 51-7-18, deposited in a foreign depository institution as defined in Section 7-1-103; and
(iv) other funds that are not included in the institution's work program as approved by the Utah Board of Higher Education;
(c) inmate funds as provided in Section 64-13-23 or in Title 64, Chapter 9b, Work Programs for Prisoners;
(d) trust funds established by judicial order;
(e) funds of the Utah Housing Corporation;
(f) endowment funds of higher education institutions; and
(g) the funds of the Utah Educational Savings Plan.
(2) All public funds held or administered by the state or its boards, commissions, institutions, departments, divisions, agencies, or similar instrumentalities and not transferred to the state treasurer as provided by this section shall be:
(a) deposited and invested by the custodian in accordance with this chapter, unless otherwise required by statute or by applicable federal law; and
(b) reported to the state treasurer in a form prescribed by the state treasurer.
(3) Unless otherwise provided by the constitution or laws of this state or by contractual obligation, the income derived from the investment of state money by the state treasurer shall be deposited into and become part of the General Fund.


Amended by Chapter 365, 2020 General Session

Source: official Utah text · Last verified 2026-08-27

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Frequently Asked Questions About Utah § 51-7-4

What does Utah Code § 51-7-4 cover?

Section 51-7-4 ("Transfer of functions, powers, and duties relating to public funds to state treasurer -- Exceptions -- Deposit of income from investment of state money.") 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 § 51-7-4?

A common citation format is "Utah Code § 51-7-4" (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 § 51-7-4 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.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Utah.