reglab/housing_qa huggingface dataset:
UT Code § 48-4-302 (2021)
2021 Utah Code|Title 48 - Unincorporated Business Entity Act|Chapter 4 - Benefit Limited Liability Company Act|Part 3 - Accountability|Section 302 - Standard of conduct for managers and officers.

 Effective 5/8/2018  48-4-302. Standard of conduct for managers and officers.    (1) Each manager of a manager-managed benefit company shall consider the interests and factors described in Subsections 48-4-301(1) and (2) when discharging the manager's duties under this chapter and the operating agreement.     (2) If a benefit company has a person serving as an officer, the person shall consider the interests and factors described in Subsections 48-4-301(1) and (2) when discharging the person's duties under this chapter and the operating agreement if:   (a) the officer has discretion to act with respect to the matter; and     (b) it reasonably appears to the officer that the matter may have a material effect on the benefit company's creation of a general public benefit or a specific public benefit identified in the benefit company's certificate of organization.       (3) A manager's consideration of the interests and factors described in Subsections 48-4-301(1) and (2) does not constitute a violation of Section 48-3a-409.     (4) A manager or officer does not have a duty to a person who is a beneficiary of the benefit company's general public benefit purpose or a specific public benefit purpose arising from the person's status as a beneficiary.    Enacted by Chapter 201, 2018 General Session
UT Code § 48-4-303 (2021)
2021 Utah Code|Title 48 - Unincorporated Business Entity Act|Chapter 4 - Benefit Limited Liability Company Act|Part 3 - Accountability|Section 303 - Right of action.

 Effective 5/8/2018  48-4-303. Right of action.    (1) Except in a benefit enforcement proceeding, a person may not bring an action or assert a claim against a benefit company or a benefit company's member, manager, or officer with respect to:   (a) failure to pursue or create general public benefit or a specific public benefit set forth in the benefit company's certificate of organization; or     (b) violation of a duty or standard of conduct under this chapter.       (2) A benefit company is not liable for monetary damages under this chapter for a failure of the benefit company to pursue or create general public benefit or a specific public benefit.     (3) Only the following may commence or maintain a benefit enforcement proceeding:   (a) the benefit company, directly; or     (b) one or more of the following, derivatively:   (i) a member that owned at least 2% of the total number of interests of a class or series outstanding at the time of the act or omission complained of;     (ii) a manager of a manager-managed benefit company;     (iii) a person or group of persons who own beneficially or of record at least 5% of the interests in an association of which the benefit company is a subsidiary at the time of the act or omission complained of; or     (iv) any person or group of persons specified in the benefit company's certificate of organization or operating agreement.        Enacted by Chapter 201, 2018 General Session
UT Code § 48-4-401 (2021)
2021 Utah Code|Title 48 - Unincorporated Business Entity Act|Chapter 4 - Benefit Limited Liability Company Act|Part 4 - Transparency|Section 401 - Annual benefit report.

 Effective 5/8/2018  48-4-401. Annual benefit report.    (1) A benefit company shall prepare an annual benefit report that includes:   (a) a narrative description of:   (i) the ways in which the benefit company pursued the benefit company's general public benefit purpose during the year and the extent to which general public benefit was created;     (ii) the ways in which the benefit company pursued any specific public benefit that the benefit company's certificate of organization states is the purpose of the benefit company to create and the extent to which the specific public benefit was created;     (iii) any circumstances that have hindered the benefit company's creation of general public benefit or any specific public benefit; and     (iv) the process and rationale for selecting or changing the third-party standard used to prepare the benefit report;       (b) an assessment of the overall social and environmental performance of the benefit company against a third-party standard:   (i) applied consistently with any application of the standard in prior benefit reports; or     (ii) accompanied by an explanation of the reasons for any inconsistent application; and       (c) any connection between the organization that established the third-party standard, or the organization's directors or officers, or a holder of 5% or more of the governance interests in the organization, and the benefit company or the benefit company's members, managers, or officers or any holder of 5% or more of the outstanding interests in the benefit company, including any financial or governance relationship that might materially affect the credibility of the use of the third-party standard.       (2) The assessment described in Subsection (1)(b) does not need to be audited or certified by a third party.    Enacted by Chapter 201, 2018 General Session
UT Code § 48-4-402 (2021)
2021 Utah Code|Title 48 - Unincorporated Business Entity Act|Chapter 4 - Benefit Limited Liability Company Act|Part 4 - Transparency|Section 402 - Availability of annual benefit report.

 Effective 5/8/2018  48-4-402. Availability of annual benefit report.    (1) Each year, a benefit company shall send the benefit report described in Section 48-4-401 to each member:   (a) within 120 days after the day on which the benefit company's fiscal year ends; or     (b) the day on which the benefit company delivers any other annual report to the benefit company's members.       (2)   (a) Within five days after the day on which a benefit company sends a benefit report to each member in accordance with Subsection (1), the benefit company shall:   (i) subject to Subsection (2)(b), post a copy of the benefit report on a public portion of the benefit company's website; and     (ii) deliver a copy of the benefit report to the division for filing.       (b) If a benefit company does not have a website, the benefit company shall provide a copy of the benefit report, without charge, to any person who requests a copy.     (c) The benefit company may omit any financial or proprietary information from a copy of a benefit report described in Subsection (2)(a) or (b).     (d) The division may charge a fee established by the division in accordance with Section 63J-1-504 for filing an annual benefit report in accordance with this section.      Enacted by Chapter 201, 2018 General Session
UT Code § 49-11-101 (2021)
2021 Utah Code|Title 49 - Utah State Retirement and Insurance Benefit Act|Chapter 11 - Utah State Retirement Systems Administration|Part 1 - General Provisions|Section 101 - Title.

49-11-101. Title.    (1) This title is known as the "Utah State Retirement and Insurance Benefit Act."     (2) This chapter is known as the "Utah State Retirement Systems Administration."    Renumbered and Amended by Chapter 250, 2002 General Session
UT Code § 49-11-103 (2021)
2021 Utah Code|Title 49 - Utah State Retirement and Insurance Benefit Act|Chapter 11 - Utah State Retirement Systems Administration|Part 1 - General Provisions|Section 103 - Purpose -- Liberal construction.

 Effective 2/21/2018  49-11-103. Purpose -- Liberal construction.    (1) The purpose of this title is to establish:   (a) retirement systems and the Utah Governors' and Legislators' Retirement Plan for members which provide:   (i) a uniform system of membership;     (ii) retirement requirements;     (iii) benefits for members;     (iv) funding on an actuarially sound basis;     (v) contributions; and     (vi) economy and efficiency in public service; and       (b) a central administrative office and a board to administer the various systems, plans, and programs established by the Legislature or the board.       (2) This title shall be liberally construed to provide maximum benefits and protections consistent with sound fiduciary and actuarial principles.    Amended by Chapter 10, 2018 General Session
UT Code § 49-11-201 (2021)
2021 Utah Code|Title 49 - Utah State Retirement and Insurance Benefit Act|Chapter 11 - Utah State Retirement Systems Administration|Part 2 - Retirement Office and Board|Section 201 - Establishment of retirement office -- An independent state agency -- Office exemption.

 Effective 3/3/2014  49-11-201. Establishment of retirement office -- An independent state agency -- Office exemption.    (1)   (a) There is established the Utah State Retirement Office, which may also be known and function as the Utah State Retirement Systems or the Utah Retirement Systems.     (b) The office shall administer the systems, plans, and programs and perform all other functions assigned to it under this title.       (2)   (a) The office is an independent state agency.     (b) It is subject to legislative and executive department budgetary review and comment.       (3) The office may establish branch offices upon approval of the board.     (4) The board and office are exempt from those acts which are applicable to state and other governmental entities under this code.    Amended by Chapter 15, 2014 General Session
UT Code § 49-11-202 (2021)
2021 Utah Code|Title 49 - Utah State Retirement and Insurance Benefit Act|Chapter 11 - Utah State Retirement Systems Administration|Part 2 - Retirement Office and Board|Section 202 - Establishment of Utah State Retirement Board -- Quorum -- Terms -- Officers -- Expenses and per diem.

 Effective 5/12/2020  49-11-202. Establishment of Utah State Retirement Board -- Quorum -- Terms -- Officers -- Expenses and per diem.    (1) There is established the Utah State Retirement Board composed of seven board members determined as follows:   (a) Four board members, with experience in investments or banking, shall be appointed by the governor from the general public.     (b) One board member shall be a school employee appointed by the governor from at least three nominations submitted by the governing board of the school employees' association that is representative of a majority of the school employees who are members of a system administered by the board.     (c) One board member shall be a public employee appointed by the governor from at least three nominations submitted by the governing board of the public employee association that is representative of a majority of the public employees who are members of a system administered by the board.     (d) One board member shall be the state treasurer.       (2) Four board members constitute a quorum for the transaction of business.     (3)   (a) All appointments to the board shall be made on a nonpartisan basis, with the advice and consent of the Senate.     (b) Board members shall serve until their successors are appointed and take the constitutional oath of office.     (c) When a vacancy occurs on the board for any reason, the replacement shall be appointed for the unexpired term.       (4)   (a) Except as required by Subsection (4)(b), all appointed board members shall serve for four-year terms.     (b) Notwithstanding the requirements of Subsection (4)(a), the governor shall, at the time of appointment or reappointment, adjust the length of terms to ensure that the terms of board members are staggered so that:   (i) approximately half of the board is appointed every two years; and     (ii) no more than two of the board members appointed under Subsection (1)(a) are appointed every two years.       (c) A board member who is appointed as a school employee or as a public employee who retires or who is no longer employed with a participating employer shall immediately resign from the board.       (5)   (a) Each year the board shall elect a president and vice president from its membership.     (b) A board member may not receive compensation or benefits for the board member's service, but may receive per diem and travel expenses in accordance with:   (i) Section 63A-3-106;     (ii) Section 63A-3-107; and     (iii) rules made by the Division of Finance pursuant to Sections 63A-3-106 and 63A-3-107.        Amended by Chapter 352, 2020 General Session
UT Code § 49-11-302 (2021)
2021 Utah Code|Title 49 - Utah State Retirement and Insurance Benefit Act|Chapter 11 - Utah State Retirement Systems Administration|Part 3 - Investment Fund|Section 302 - Board duties with respect to fund.

49-11-302. Board duties with respect to fund.    (1) The board:   (a) shall review and establish the asset allocation of the Utah State Retirement Investment Fund for investment, and with the executive director, shall determine the method of investing the funds;     (b) through the executive director:   (i) shall invest the money in the Utah State Retirement Investment Fund; and     (ii) may provide for the holding, purchasing, selling, assigning, transferring, and disposing of any of the securities and investments in which any of the money of the Utah State Retirement Investment Fund is invested.         (2) Fees for all services shall be paid from the interest earnings of the Utah State Retirement Investment Fund.     (3) Title to real estate or any other fund investment may be:   (a) held in the name of the Utah State Retirement Investment Fund; or     (b) held in another name or names as determined by the board.      Renumbered and Amended by Chapter 250, 2002 General Session
UT Code § 49-11-303 (2021)
2021 Utah Code|Title 49 - Utah State Retirement and Insurance Benefit Act|Chapter 11 - Utah State Retirement Systems Administration|Part 3 - Investment Fund|Section 303 - Fund investment standard -- Prudent investor rule.

49-11-303. Fund investment standard -- Prudent investor rule.  The fund shall be invested in accordance with the prudent investor rule established in Title 75, Chapter 7, Part 9, Utah Uniform Prudent Investor Act.  Amended by Chapter 116, 2005 General Session
UT Code § 49-11-304 (2021)
2021 Utah Code|Title 49 - Utah State Retirement and Insurance Benefit Act|Chapter 11 - Utah State Retirement Systems Administration|Part 3 - Investment Fund|Section 304 - Administrative costs -- Payable from fund.

49-11-304. Administrative costs -- Payable from fund.  General administrative costs of operating the office shall be assessed to the systems, plans, programs, and funds on a pro rata basis and shall be paid from earnings of the Utah State Retirement Investment Fund.  Renumbered and Amended by Chapter 250, 2002 General Session
UT Code § 49-11-305 (2021)
2021 Utah Code|Title 49 - Utah State Retirement and Insurance Benefit Act|Chapter 11 - Utah State Retirement Systems Administration|Part 3 - Investment Fund|Section 305 - Self-insurance option -- Purchase of liability insurance.

49-11-305. Self-insurance option -- Purchase of liability insurance.    (1) The office may self insure and may purchase commercial insurance in any amount.     (2) The office may also purchase excess commercial insurance above the limits provided by the Governmental Immunity Act against any:   (a) risk created or recognized by the Governmental Immunity Act; or     (b) other action for which the board, office, or any of its employees, may be held liable.      Renumbered and Amended by Chapter 250, 2002 General Session
UT Code § 49-11-307 (2021)
2021 Utah Code|Title 49 - Utah State Retirement and Insurance Benefit Act|Chapter 11 - Utah State Retirement Systems Administration|Part 3 - Investment Fund|Section 307 - Report on funded status -- Study of compensation.

49-11-307. Report on funded status -- Study of compensation.    (1)   (a) The office shall report the funded status of the Utah State Retirement Investment Fund to the Retirement and Independent Entities Committee created under Section 63E-1-201.     (b) The report under Subsection (1)(a) shall be made at least annually or as requested by the committee.       (2)   (a) If the Utah State Retirement Investment Fund reaches a funded status of 100%, the office shall make a report to that effect.     (b) The report shall be provided to the governor, the board, the president of the Senate, the speaker of the House of Representatives, and to each member and staff of the Retirement and Independent Entities Committee created under Section 63E-1-201.       (3) Upon receipt of the report under Subsection (2)(b), the committee shall conduct a study on participating employee compensation and benefits to determine the need for adjustments in retirement benefits, salary, and other benefits for the recruitment and retention of a qualified workforce.     (4) The committee shall report any findings and recommendations to the Legislative Management Committee.    Enacted by Chapter 266, 2010 General Session
UT Code § 49-11-405 (2021)
2021 Utah Code|Title 49 - Utah State Retirement and Insurance Benefit Act|Chapter 11 - Utah State Retirement Systems Administration|Part 4 - Service Credits|Section 405 - Service credit from different systems or plans -- Eligibility and calculation of service credit.

 Effective 5/10/2016  49-11-405. Service credit from different systems or plans -- Eligibility and calculation of service credit.    (1)   (a) A member who has service credit from two or more systems or one or more systems and the Utah Governors' and Legislators' Retirement Plan may combine service credit for purposes of determining eligibility for retirement.     (b) The provisions of Subsection (1)(a) do not apply to concurrent service.       (2) To be eligible for the calculation under Subsection (3), the member's service credit earned under the different systems or the Utah Governors' and Legislators' Retirement Plan shall at least equal the minimum amount of service credit required to retire from the system which most recently covered the member.     (3) If a member meets the requirements of Subsection (2), the office shall calculate the member's allowance using all service credit earned from any system or the Utah Governors' and Legislators' Retirement Plan, with no actuarial reduction applied to the allowance, except the service credit used to calculate the benefit shall be increased or decreased to reflect the value of the assets transferred.     (4) The office shall establish the standards used for calculating any increase or decrease in the service credit.     (5) This section does not apply to a retiree who is subject to Section 49-11-504 and Chapter 11, Part 12, Postretirement Reemployment Restrictions Act.    Amended by Chapter 310, 2016 General Session
UT Code § 49-11-406 (2021)
2021 Utah Code|Title 49 - Utah State Retirement and Insurance Benefit Act|Chapter 11 - Utah State Retirement Systems Administration|Part 4 - Service Credits|Section 406 - Governor's appointed executives and senior staff -- Appointed legislative employees -- Transfer of value of accrued defined benefit -- Procedures.

 Effective 7/1/2021  49-11-406. Governor's appointed executives and senior staff -- Appointed legislative employees -- Transfer of value of accrued defined benefit -- Procedures.    (1) As used in this section:   (a) "Defined benefit balance" means the total amount of the contributions made on behalf of a member to a defined benefit system plus refund interest.     (b) "Senior staff" means an at-will employee who reports directly to an elected official, executive director, or director and includes a deputy director and other similar, at-will employee positions designated by the governor, the speaker of the House, or the president of the Senate and filed with the Division of Human Resource Management and the Utah State Retirement Office.       (2) In accordance with this section and subject to requirements under federal law and rules made by the board, a member who has service credit from a system may elect to be exempt from coverage under a defined benefit system and to have the member's defined benefit balance transferred from the defined benefit system or plan to a defined contribution plan in the member's own name if the member is:   (a) the state auditor;     (b) the state treasurer;     (c) an appointed executive under Subsection 67-22-2(1)(a);     (d) an employee in the Governor's Office;     (e) senior staff in the Governor's Office of Planning and Budget;     (f) senior staff in the Governor's Office of Economic Opportunity;     (g) senior staff in the Commission on Criminal and Juvenile Justice;     (h) senior staff in the Public Lands Policy Coordinating Office, created in Section 63L-11-201;     (i) a legislative employee appointed under Subsection 36-12-7(3)(a); or     (j) a legislative employee appointed by the speaker of the House of Representatives, the House of Representatives minority leader, the president of the Senate, or the Senate minority leader.       (3) An election made under Subsection (2):   (a) is final, and no right exists to make any further election;     (b) is considered a request to be exempt from coverage under a defined benefits system; and     (c) shall be made on forms provided by the office.       (4) The board shall adopt rules to implement and administer this section.    Amended by Chapter 64, 2021 General SessionAmended by Chapter 282, 2021 General SessionAmended by Chapter 344, 2021 General SessionAmended by Chapter 382, 2021 General Session
UT Code § 49-11-407 (2021)
2021 Utah Code|Title 49 - Utah State Retirement and Insurance Benefit Act|Chapter 11 - Utah State Retirement Systems Administration|Part 4 - Service Credits|Section 407 - Service credit purchases by active employees only.

49-11-407. Service credit purchases by active employees only.  Notwithstanding any other provision of this title, only an active member may purchase service credit under this title.  Enacted by Chapter 439, 2011 General Session
UT Code § 49-11-501 (2021)
2021 Utah Code|Title 49 - Utah State Retirement and Insurance Benefit Act|Chapter 11 - Utah State Retirement Systems Administration|Part 5 - General Member Provisions|Section 501 - Refunds of member contributions -- Transfers of contributions to defined contribution plan.

49-11-501. Refunds of member contributions -- Transfers of contributions to defined contribution plan.    (1) If a member shall for any cause, except retirement, permanent or temporary disability, or death, terminate employment with a participating employer the member may leave the member contributions in the fund or may receive a refund of the member contributions as provided under this section.     (2) A member who applies for a refund of member contributions shall apply in writing on forms provided by the office.     (3) A refund of member contributions may not be made to a member within 60 days from the last date of the pay period for which contributions are made by or on behalf of the member.     (4) If the member is reemployed by a participating employer within the time period under Subsection (3), the member is not eligible for a refund.     (5) A member who receives a refund of member contributions forfeits the service credit based on those contributions.     (6) A member who is exempted from or becomes ineligible for service credit in a system but who remains employed by a participating employer may request a direct transfer of member contributions to a qualified plan.     (7) A member who remains employed with an employer which has withdrawn from a system may request a plan-to-plan transfer of member contributions to a qualified defined contribution plan administered by the board or a qualified plan offered by the member's employer.     (8) Refund interest shall be paid on refunds of member contributions under this section.    Amended by Chapter 240, 2003 General Session