Utah Admin. Code R357-21-7 - Full Funded Applicant
(1) A notice of
full funding pursuant to Subsection
63N-4-303(7)
shall be provided by the applicant on official letterhead of the applicant and
follow the format, documentation, and other requirements in Section
R357-21-7:
(a) bank statements, credit instruments, and
other supporting documentation to show full funding was achieved under the
requirements outlined in Subsection
63N-4-303(7);
and
(b) any other documentation the
office may request.
(2)
If the approved applicant does not meet the requirements found in Subsection
63N-4-303(7) or
is found to have lacking documentation as described in Subsection
R357-21-7(1),
the office shall notify the applicant that its investment authority allocation
has lapsed by issuing a Notice of Agency Action for Lapsed
Allocation.
(3) The applicant will
have ten business days to submit to the executive director a challenge to a
Notice of Agency Action for Lapsed Allocation:
(4) Any challenge to a Notice of Agency
Action for Lapsed Allocation shall provide documentation that the requirements
of Subsection
63N-4-303(7)
were met within 65 days of notice of approval for investment authority
allocation;
(5) The executive
director shall issue a final determination within five business days of receipt
of such a challenge.
Notes
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