UTA LEG Funds Administration


On Mar. 1, UTA LEG passed bill re funds administration modifications.


  • UTA LEG reported passage of Bill HB 494 related to funds administration modifications.
  • Amended Utah Code, UTA LEG 51-7-2 to modify the State money management act.
  • State Money Management Act
  • Public body that administers certain funds may hold closed meeting to discuss matters.
  • Matters related to sale, purchase of identifiable securities, investment funds/contracts.
  • Also excludes paper, electronic, or other depiction or record of information related to investment activities of a fund from Government records access and management act.
  • Legislative History
  • On Feb. 7, 2024, bill introduced in House; on Feb. 23, 2024, bill was passed in House.
  • On Feb. 23, 2024, bill delivered to Senate; on Mar. 2, 2024, bill was passed in Senate.
  • Effectiveness
  • Bill 494, related to funds administration modifications, is effective as of May 1, 2024.
  • Mar. 2024 UTA LEG Governor Approva
  • On Mar. 1, 2024, UTA LEG governor signed bill on funds administration modifications.

Regulators UTA LEG
Entity Types Corp; Inv Co
Reference Bill, 3/1/2024; PR, Bill HB0494, 3/1/2024; Citation: UTA LEG 51-7-2;
Functions Compliance; Legal; Operations; Record Retention
Countries United States of America
Category
State
Products Corporate; Fund Mgt; Securities
Regions Am
Rule Type Final
Rule Date 3/1/2024
Effective Date 5/1/2024
Rule Id 203122
Linked to N/A
Reg. Last Update 3/1/2024
Report Section US Consumer

Last substantive update on 03/25/2024