Utah § 51-8-302 - Transferring management of endowment funds.

Full text of Utah Utah Code § 51-8-302 — Transferring management of endowment funds., with citation guidance and answers to common questions.

§ 51-8-302. Transferring management of endowment funds.

51-8-302.  Transferring management of endowment funds.
(1) A higher education institution may only transfer the management of any institutional fund to a manager if the transferring higher education institution:
(a) retains sufficient funds to cover its cash requirements; and
(b) continues to be responsible for the proper collection, deposit, and disbursement of the institutional fund in the manner provided by law.
(2) The institutional funds transferred as provided in this section are subject to all applicable provisions of this chapter and are under the jurisdiction of the manager until the transferring higher education institution withdraws these institutional funds from the manager.
(3) A higher education institution may withdraw all or any part of the institutional funds transferred to the manager, subject to any rules established by the manager governing notice or limits on the amount of institutional funds that may be withdrawn.


Enacted by Chapter 59, 2007 General Session

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

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Frequently Asked Questions About Utah § 51-8-302

What does Utah Code § 51-8-302 cover?

Section 51-8-302 ("Transferring management of endowment funds.") 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 § 51-8-302?

A common citation format is "Utah Code § 51-8-302" (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 § 51-8-302 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.