Utah Admin. Code R628-2-7 - Multiple Funds
If a public treasurer or a public education foundation has more than one fund or investment pool in which funds covered by this rule are managed, the following rules apply in determining investment percentages:
A. If the investment of
any funds is covered by a direction in the instrument creating a gift, devise,
or bequest, or if the donation consists of securities restricted from sale, the
funds shall be excluded from any computation of permitted
investments.
B. All other funds
within the scope of this rule shall be consolidated for determining the
propriety of investments. Any restrictions as to investment percentages shall
be determined as provided for in Subsection R628-2-4(B).
Notes
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