63M-1-802. Management fees.
(1) All expenses incurred in establishing and maintaining shared foreign sales
corporations shall be initially paid for by the office but shall be reimbursed to the office by the
participants in each shared foreign sales corporation created under Section 63M-1-801 on a pro
rata basis determined by the office.
(2) The office may charge the participants management fees that are reasonable to
maintain and manage each of the shared foreign sales corporations.
(3) All monies obtained by the office in excess of office expenditures in connection with
the management of shared foreign sales corporations may be used at the discretion of the office
for the office's other activities in promoting exporting.
(4) The fees collected and the expenditures made shall be reported to the Legislature
each year.
Renumbered and Amended by Chapter 382, 2008 General Session
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Last revised: Thursday, May 28, 2009