{"data":{"id":"us-ut/utah-code-53d-1-501","jurisdiction":"us-ut","citation":"Utah Code § 53D-1-501","heading":"Nominating committee -- Membership -- Terms -- Vacancies -- Compensation.","body":"(1) There is established a School and Institutional Trust Fund Nominating Committee.\n(2) The seven-member nominating committee consists of:\n(a) five members the state treasurer appoints upon recommendation by the advocacy office director including:\n(i) four individuals with experience in the field of institutional investment or endowments, who belong to a respected professional investment organization, or who previously served on the School and Institutional Trust Fund Office's Board of Trustees; and\n(ii) one investment officer who administers a public institutional investment fund or public university endowment in the state; and\n(b) two members of the School and Institutional Trust Beneficiaries' Advocacy Council the advocacy council chair appoints, contingent on the member's council membership.\n(3) An individual appointed as a member of the nominating committee under Subsection (2)(a) shall be appointed based on the individual's expertise, contacts, or connections in:\n(a) investment finance;\n(b) institutional asset management;\n(c) trust administration; or\n(d) the practice of law in the areas of capital markets, securities law, trusts, foundations, endowments, investment finance, institutional asset management, or trust administration.\n(4) The term of a member appointed under Subsection (2)(a) is four years.\n(5) A nominating committee member shall serve until a successor is appointed and qualified.\n(6)\n(a) If a member appointed under Subsection (2)(a) leaves office, the vacancy shall be filled in the same manner as the initial appointment under Subsection (2)(a).\n(b) An individual appointed to fill a vacancy under Subsection (6)(a) serves the remainder of the unexpired term.\n(7) A member of the nominating committee may not receive compensation or benefits for the member's service, but may receive per diem and travel expenses in accordance with:\n(a) Section 63A-3-106;\n(b) Section 63A-3-107; and\n(c) rules made by the Division of Finance pursuant to Sections 63A-3-106 and 63A-3-107.\n(8) The advocacy office shall provide staff support to the nominating committee.\n(9) The nominating committee shall, by a majority vote, establish, amend, and publish guidelines consistent with this section to govern the nominating process.","path":["Title 53D School and Institutional Trust Fund Management and Land Trusts Protection and Advocacy Office","Chapter 53D-1 School and Institutional Trust Fund Management Act","Part 53D-1-5 Nominating Committee"],"source_url":"https://le.utah.gov/xcode/Title53D/Chapter1/53D-1-S501.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"91c8a1641087ba762d31eada967e53f3348ce2e2631f3f028e66dab18d08149b","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-53d-1-403","next":"us-ut/utah-code-53d-1-502"},"notice":"GroundRules: Original legal text. Not legal advice."}