Utah Code § 9-8-707
This is the official text of Utah Code § 9-8-707, part of Utah’s Code — part of the compiled statutory law of Utah, published by the state as "Code." Browse the sections below, each linked to its official government source.
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§ 9-8-707. Spending restrictions -- Return of endowment.
Official statutory text
(1) A qualifying organization that has received endowment money from funds made available for that purpose: (a) may not expend the money or the required matching money in the endowment fund; and (b) may expend the interest income earned on the money in the endowment fund. (2) If a qualifying organization expends money in violation of Subsection (1), the qualifying organization shall return the amount of money allocated by the society under this part to the Division of Finance.
Status: in_force · Read it on the official government site
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