Utah § 9-8-703 - History organization endowment funds.

Full text of Utah Utah Code § 9-8-703 — History organization endowment funds., with citation guidance and answers to common questions.

§ 9-8-703. History organization endowment funds.

Effective 5/4/2022
9-8-703.  History organization endowment funds.
(1)
(a) A qualifying organization may create an endowment fund into which there may be deposited money from funds made available for that purpose.
(b) The principal of each endowment fund may not be expended by the qualifying organization and shall be held in perpetuity solely by the qualifying organization or by the Division of Finance on behalf of the qualifying organization.
(c) Only interest income earned on the amount in each endowment fund may be expended by the qualifying organization.
(d) The principal of each endowment fund shall be invested in accordance with Title 51, Chapter 7, State Money Management Act.
(2)
(a) An endowment fund shall be administered in accordance with generally accepted accounting principles by professional endowment management personnel.
(b) If no professional endowment management personnel is available to the qualifying organization, the qualifying organization shall place the endowment fund in a state fiduciary fund administered by the Division of Finance.
(3) If an endowment fund is administered by the Division of Finance:
(a) the Division of Finance shall allocate interest income to the qualifying organization annually; and
(b) the costs for the administration shall be deducted from the interest income before allocations of interest income may be made to the qualifying organization by the Division of Finance.


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 § 9-8-703

What does Utah Code § 9-8-703 cover?

Section 9-8-703 ("History organization 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 § 9-8-703?

A common citation format is "Utah Code § 9-8-703" (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 § 9-8-703 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.