Utah § 51-8-304 - Rebuttable presumption of imprudence -- Scope.

Full text of Utah Utah Code § 51-8-304 — Rebuttable presumption of imprudence -- Scope., with citation guidance and answers to common questions.

§ 51-8-304. Rebuttable presumption of imprudence -- Scope.

51-8-304.  Rebuttable presumption of imprudence -- Scope.
(1) The appropriation for expenditure in any year of an amount greater than seven percent of the fair market value of an endowment fund, calculated on the basis of market values determined at least quarterly and averaged over a period of not less than three years immediately preceding the year in which the appropriation for expenditure was made, creates a rebuttable presumption of imprudence.
(2) For an endowment fund in existence for fewer than three years, the fair market value of the endowment fund shall be calculated for the period of time the endowment fund has been in existence.
(3) This section does not:
(a) apply to an appropriation for expenditure permitted under law other than this chapter or the gift instrument; or
(b) create a presumption of prudence for an appropriation for expenditure of an amount less than or equal to seven percent of the fair market value of the endowment fund.


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 § 51-8-304

What does Utah Code § 51-8-304 cover?

Section 51-8-304 ("Rebuttable presumption of imprudence -- Scope.") 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 § 51-8-304?

A common citation format is "Utah Code § 51-8-304" (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 § 51-8-304 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.