Professional statute overview
Enactment structure, operative effect and source provenance
01
Purpose and legislative effect
“Spending restrictions -- Return of endowment. If a qualifying organization has received endowment money from the state fund, the qualifying organization may not expend any of that money or the required matching money in the qualifying”
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02
How the instrument operates
- 01
Start with the recorded version
Legal dates not recorded. The date shown identifies this source expression and should not be treated as proof that no later change exists.
- 02
Locate the controlling provision
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- 03
Read conditions and exceptions together
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- 04
Verify currency and official wording
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03
Research entry points
Selected provisions across the instrument. Open any row to continue with the exact stored text.
Spending restrictions -- Return of endowment. If a qualifying organization has received endowment money from the state fund, the qualifying organization may not expend any of that money or the required matching money in the qualifying
Section 9-6-507
A qualifying organization that receives endowment money from the state fund may not spend that money or the required matching money in its endowment fund; it may spend only the interest income earned on that money.
Section 9-6-507(1)
If the division finds that a qualifying organization spent endowment money or required matching money, the organization must return the state-fund money it received, and the division must reallocate the returned money to qualifying organizations under Section…
Section 9-6-507(2)
The qualifying organization must return the money it received from the state fund.
Section 9-6-507(2)(a)
The division must reallocate any returned money to qualifying organizations.
Section 9-6-507(2)(b)
04
Source and current-law status
In force source record
Source record from le.utah.gov · Legal dates not recorded
This source records the instrument as in force. Confirm subsequent amendments, commencement notices, and judicial treatment before relying on it.