Utah Code § 63E-1-101
Title
(1) This title is known as the "Independent Entities Code." (2) This chapter is known as the "Independent Entities Act."
Utah Code Title 63E — Independent Entities Code
Utah · statute · Utah Code tit. 63E · 24 active provisions
Utah Code § 63E-1-102
Definitions -- List of independent entities
As used in this title: (1) "Authorizing statute" means the statute creating an entity as an independent entity. (2) "Committee" means the Retirement and Independent Entities Committee created by Section 63E-1-201. (3) "Independent corporation" means a corporation incorporated in accordance with Chapter 2, Independent C…
Utah Code § 63E-1-103
Registration as a limited purpose entity
(1) Each independent entity shall register and maintain the independent entity's registration as a limited purpose entity, in accordance with Section 67-1a-15. (2) An independent entity that fails to comply with Subsection (1) or Section 67-1a-15 is subject to enforcement by the state auditor, in accordance with Sectio…
Utah Code § 63E-1-201
Retirement and Independent Entities Committee creation
(1) There is created the Retirement and Independent Entities Committee composed of 15 legislators appointed as follows: (a) six senators, appointed by the president of the Senate, with at least two senators from the minority party; and (b) nine representatives, appointed by the speaker of the House of Representatives,…
Utah Code § 63E-1-202
Duties of the committee
(1) The committee shall: (a) study the scope of this title and determine what entities should be treated under this title as independent entities; (b) review annually new entities created by the state and entities registered as independent entities pursuant to Section 67-1a-15 to determine if any entities should be add…
Utah Code § 63E-1-301
Definitions
As used in this part, "government requestor" means: (1) the governor; (2) an executive branch officer other than the governor; (3) an executive branch agency; (4) a legislator, including a legislative sponsor of legislation creating an independent entity; or (5) a legislative committee.
Utah Code § 63E-1-302
Review by committee required for creating an independent entity
(1) If a government requestor proposes that the Legislature create an independent entity, that government requestor shall request that the committee review the proposal. (2) After receiving a request for review under Subsection (1), the chairs of the committee: (a) shall schedule a meeting of the committee to review th…
Utah Code § 63E-1-303
Recommendations of the committee
After the committee has reviewed a proposal to create an independent entity in accordance with Section 63E-1-302, the committee shall make a report to the Legislature stating whether the committee: (1) recommends creation of the proposed independent entity; (2) recommends that the proposed independent entity not be cre…
Utah Code § 63E-1-304
Limitations on risk management coverage
(1) Except as specifically modified in its authorizing statute, an independent entity is not eligible to receive coverage under the Risk Management Fund created by Section 63A-4-201 or any captive insurance company created by the risk manager. (2) If an independent entity that receives coverage under the Risk Managemen…
Utah Code § 63E-1-401
Definitions
As used in this part: (1) "Asset" means property of all kinds, real and personal, tangible and intangible, and includes: (a) cash, except reasonable compensation or salary for services rendered; (b) stock or other investments; (c) goodwill; (d) real property; (e) an ownership interest; (f) a license; (g) a cause of act…
Utah Code § 63E-1-402
Benefits to interested parties of an independent entity -- Disposition of unused appropriations
(1) If an independent entity is privatized, the following may not receive any benefit prohibited under Subsection (2): (a) an interested party of the independent entity; (b) an entity in which an interested party holds a business interest; (c) a lobbyist of the independent entity; or (d) an entity in which a lobbyist o…
Utah Code § 63E-1-403
Privatization process -- Audit
(1) If an independent entity seeks to privatize the independent entity, it shall: (a) submit to the Legislature recommended legislation to: (i) repeal the authorizing statute and revise state law as necessary to terminate its relationship to the state; and (ii) address the value of any interests the state holds in the…
Utah Code § 63E-1-404
Penalties for violation
(1) A person who knowingly violates this part: (a) is guilty of a third degree felony if the combined value of any compensation or assets received by the person as a result of the violation is equal to or greater than $10,000; or (b) is guilty of a class A misdemeanor if the combined value of any compensation or assets…
Utah Code § 63E-2-101
Title
This chapter is known as the "Independent Corporations Act."
Utah Code § 63E-2-102
Independent corporations
An independent corporation is granted a franchise to incorporate in this state in accordance with this title and its authorizing statute.
Utah Code § 63E-2-103
Public purpose -- Legislative findings
(1) Each independent corporation shall have a specific public purpose related to the state or its citizens stated in its authorizing statute. (2) Prior to enacting its authorizing statute, the Legislature shall make a finding that the independent corporation needs to be created by the state or be given by the state the…
Utah Code § 63E-2-104
Legislative review
(1) Each independent corporation is subject to: (a) review by the Retirement and Independent Entities Committee in accordance with Chapter 1, Independent Entities Act; and (b) the authority of the legislative auditor general in accordance with Utah Constitution, Article VI, Section 33, and Section 36-12-15. (2) Each in…
Utah Code § 63E-2-105
Boards
(1) As used in this section, "director" includes a trustee or other board member. (2) Each independent corporation shall be governed by a board of directors. (3) The authorizing statute of each independent corporation shall specify: (a) the process for appointing, removing, and replacing directors; (b) the number and t…
Utah Code § 63E-2-106
Powers
Except as specifically modified in its authorizing statute, each independent corporation shall have the power to: (1) exist as a: (a) public corporation; or (b) quasi-public corporation; (2) perform its stated public purpose; (3) sue and be sued in its own name; (4) retain and be represented by legal counsel independen…
Utah Code § 63E-2-107
Prohibited participation
Except as specifically modified in its authorizing statute, each independent corporation may not participate in the: (1) issuance of bonds that are the obligation of the state; or (2) services provided to state agencies, including: (a) fuel dispensing; (b) motor pool services; (c) surplus property services; (d) informa…
Utah Code § 63E-2-108
Eligible participation
Except as specifically modified in its authorizing statute, each independent corporation may participate in the state retirement system.
Utah Code § 63E-2-109
State statutes
(1) Except as specifically modified in its authorizing statute, each independent corporation shall be exempt from the statutes governing state agencies, including: (a) Title 51, Chapter 5, Funds Consolidation Act; (b) Title 51, Chapter 7, State Money Management Act; (c) Title 63A, Utah Government Operations Code; (d) T…
Utah Code § 63E-2-110
Budgetary and fiscal requirements
(1) The board of each independent corporation shall annually adopt a budget. (2) (a) All money held in trust by an independent corporation is not public funds, even if they were public funds before the money was received by the independent corporation. (b) The money of an independent corporation is not required to be h…
Utah Code § 63E-2-111
State liability
Except as expressly provided in this title or in an authorizing statute, the state is not liable for any independent corporation's obligations, expenses, debts, and liabilities.