53B-8a-113. Property rights to assets in Utah Educational Savings Plan Trust.
(1) The assets of the Utah Educational Savings Plan Trust, including the program fund
and the endowment fund, shall at all times be preserved, invested, and expended solely and only
for the purposes of the Utah Educational Savings Plan Trust and shall be held in trust for the
account owners and beneficiaries.
(2) No property rights in the Utah Educational Savings Plan Trust shall exist in favor of
the state.
(3) The assets may not be transferred or used by the state for any purposes other than the
purposes of the Utah Educational Savings Plan Trust.
Amended by Chapter 100, 2007 General Session
Download Code Section Zipped WordPerfect 53B08a011300.ZIP 1,778 Bytes
Sections in this Chapter|Chapters in this Title|All Titles|Legislative Home Page
Last revised: Wednesday, July 23, 2008