There is created an expendable special revenue fund known as the "Utah Geological Survey Sample Library Fund."
(2)
The fund consists of money from the following revenue sources:
(a)
donations or contributions from individuals, companies, organizations, or government entities; and
(b)
interest generated by the fund.
(3)
The director shall administer the fund.
(4)
(a)
Donations and other contributions to the fund and unallocated interest as provided in Subsection (5)(c) shall constitute the fund's principal.
(b)
The principal may be expended only with the concurrence of the board.
(5)
(a)
Interest generated by the fund may be expended to support the sample library as provided in Subsections (5)(b) and (c).
(b)
An amount of money equal to or less than the interest generated by the fund in the previous fiscal year may be expended annually in support of the sample library.
(c)
Funds that are eligible to be spent, but remain unallocated at the end of any fiscal year, revert to the fund and become part of the fund's principle.
Section 79-3-402 ("Utah Geological Survey Sample Library Fund.") 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 § 79-3-402?
A common citation format is "Utah Code § 79-3-402" (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 § 79-3-402 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.
