Professional statute overview
Enactment structure, operative effect and source provenance
01
Purpose and legislative effect
“Spending restrictions -- Return of endowment. A qualifying organization that has received endowment money from funds made available for that purpose: may not expend the money or the required matching money in the endowment fund; and may”
Use this record to locate individual provisions, understand the instrument’s recorded structure, and move from a research summary to the exact source text.
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
Use the provision map, part headings and full-text filter to move from the broad subject to the exact legal language.
- 03
Read conditions and exceptions together
Keep subsections, definitions, provisos and cross-references in context before drawing a legal conclusion.
- 04
Verify currency and official wording
Confirm later legislation, commencement notices and corrections with the official publisher before advice, filing or reliance.
03
Research entry points
Selected provisions across the instrument. Open any row to continue with the exact stored text.
Spending restrictions -- Return of endowment. A qualifying organization that has received endowment money from funds made available for that purpose: may not expend the money or the required matching money in the endowment fund; and may
Section 9-8-707
A qualifying organization receiving endowment money may not spend the principal or required matching money in the endowment fund, but may spend the interest earned on that money.
Section 9-8-707(1)
A person must not spend the money or required matching money in the endowment fund.
Section 9-8-707(1)(a)
may expend the interest income earned on the money in the endowment fund.
Section 9-8-707(1)(b)
If a qualifying organization spends money in violation of Subsection (1), it must return the allocated amount to the Division of Finance.
Section 9-8-707(2)
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.