{"data":{"id":"us-ut/utah-code-53h-16-404","jurisdiction":"us-ut","citation":"Utah Code § 53H-16-404","heading":"Nucleus Fund investment committee duties.","body":"(1) The investment committee shall:\n(a) comply with guidelines and directives from the institute board;\n(b) manage and conduct business affairs of the Nucleus Fund;\n(c) establish policies for the management of the Nucleus Fund, including:\n(i) an investment management code of conduct and associated compliance policy;\n(ii) a policy for the strategic allocation of Nucleus Fund assets; and\n(iii) a policy articulating the investment committee's investment philosophy for Nucleus Fund assets; and\n(d) ensure that policies adopted by the investment committee are:\n(i) consistent with this chapter, the Utah Constitution, and other applicable law;\n(ii) consistent with sound fiduciary principles; and\n(iii) designed to maintain the integrity of the Nucleus Fund and prevent the misapplication of money in the Nucleus Fund.\n(2) The investment committee shall engage a third-party to audit the Nucleus Fund at least annually.","path":["Title 53H Higher Education","Chapter 53H-16 Nucleus Institute","Part 53H-16-4 Utah Innovation Fund"],"source_url":"https://le.utah.gov/xcode/Title53H/Chapter16/53H-16-S404.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"ee4dda3aefc1caec5d1dac8883b467adc8f2713b55565571503efc13c79a5610","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-53h-16-403","next":"us-ut/utah-code-53h-16-405"},"notice":"GroundRules: Original legal text. Not legal advice."}