9-6-504 - Duties of board.
9-6-504. Duties of board.
The board shall:
(1) allocate money from the state fund to the endowment fund created by a qualifyingorganization under Section 9-6-503;
(2) determine the eligibility of each qualifying organization to receive money from thestate fund into the endowment fund of the qualifying organization and be the final arbiter ofeligibility;
(3) determine the matching amount each qualifying organization shall raise in order toqualify to receive money from the state fund;
(4) establish a date by which each qualifying organization shall provide its matchingfunds;
(5) verify that matching funds have been provided by each qualifying organization by thedate determined in Subsection (4); and
(6) in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act,establish criteria by rule not otherwise prescribed in this chapter for determining the eligibility ofqualifying organizations to receive money from the state fund.
Amended by Chapter 378, 2010 General Session