Utah § 9-6-503 - Arts and museums endowment funds.

Full text of Utah Utah Code § 9-6-503 — Arts and museums endowment funds., with citation guidance and answers to common questions.

§ 9-6-503. Arts and museums endowment funds.

Effective 5/4/2022
9-6-503.  Arts and museums endowment funds.
(1) Any Utah nonprofit arts or museum organization that meets the requirements described in this part may create an endowment fund into which there may be deposited money from the state fund.
(2) The principal of each endowment fund described in this section may not be expended by the qualifying organization and shall be held in perpetuity solely by the qualifying organization.
(3) Interest income earned on the amount in each endowment fund described in this section may be expended by the qualifying organization.
(4) The principal of each endowment fund described in this section shall be invested in accordance with Title 51, Chapter 7, State Money Management Act.
(5) If a qualifying organization that creates an endowment fund as described in this section receives:
(a) $50,000 or more from the state fund, the money shall be administered by the qualifying organization's professional management in accordance with generally accepted accounting principles; or
(b) less than $50,000 from the state fund, the money shall be placed in a state fiduciary fund under the direction of the state treasurer, and the state treasurer shall allocate interest income to the qualifying organization.
(6) If an endowment fund is under the direction of the state treasurer, the state treasurer shall deduct administrative costs related to the endowment fund before allocating any interest income to the qualifying organization.


Amended by Chapter 451, 2022 General Session

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

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Frequently Asked Questions About Utah § 9-6-503

What does Utah Code § 9-6-503 cover?

Section 9-6-503 ("Arts and museums 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 § 9-6-503?

A common citation format is "Utah Code § 9-6-503" (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 § 9-6-503 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.