63M-1-1212 - Dissolution.
63M-1-1212. Dissolution.
(1) Upon the dissolution of the Utah fund of funds, the corporation shall be liquidatedand dissolved.
(2) Upon dissolution or privatization of the corporation, any assets owned by thecorporation shall be distributed to one or more Utah nonprofit tax exempt organizations to bedesignated by the Legislature for the purposes listed in Section 63M-1-1202 as provided in Title63E, Chapter 1, Independent Entities Act.
Renumbered and Amended by Chapter 382, 2008 General Session