reglab/housing_qa huggingface dataset:
UT Code § 53C-4-103 (2021)
2021 Utah Code|Title 53C - School and Institutional Trust Lands Management Act|Chapter 4 - Sales, Exchanges, and Leases of Trust Lands|Part 1 - Sales of Trust Lands|Section 103 - Rulemaking for sale of real property -- Licensed or certified appraisers -- Exceptions.

53C-4-103. Rulemaking for sale of real property -- Licensed or certified appraisers -- Exceptions.    (1) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, if the administration buys, sells, or exchanges real property, the administration shall make rules to ensure that the value of the real property is congruent with the proposed price and other terms of the purchase, sale, or exchange.     (2) The rules:   (a) shall establish procedures for determining the value of the real property;     (b) may provide that an appraisal, as defined under Section 61-2g-102, demonstrates the real property's value; and     (c) may require that the appraisal be completed by a state-certified general appraiser, as defined under Section 61-2g-102.       (3) Subsection (1) does not apply to the purchase, sale, or exchange of real property, or to an interest in real property:   (a) that is under a contract or other written agreement before May 5, 2008; or     (b) with a value of less than $100,000, as estimated by the state agency.      Amended by Chapter 289, 2011 General Session
UT Code § 53C-4-201 (2021)
2021 Utah Code|Title 53C - School and Institutional Trust Lands Management Act|Chapter 4 - Sales, Exchanges, and Leases of Trust Lands|Part 2 - Surface Leases and Easements|Section 201 - Surface leases and user permits -- Procedures for issuing leases and user permits.

53C-4-201. Surface leases and user permits -- Procedures for issuing leases and user permits.    (1) The director may issue surface leases and user permits of trust lands for any term consistent with sound and prudent real estate practices.     (2) This section does not apply to leases for grazing, oil, gas, and hydrocarbons, or other minerals.     (3)   (a)   (i) Surface leases or user permits may be entered into by negotiation, public auction, or other public competitive bidding process as determined by rules of the director.     (ii) The director may lease trust lands for development and subsequent sale of all or portions of such lands to third parties for no less than fair market value.       (b) Requests for proposals (RFP) on trust lands may be offered by the director after public notice.      Amended by Chapter 247, 2011 General Session
UT Code § 53C-4-202 (2021)
2021 Utah Code|Title 53C - School and Institutional Trust Lands Management Act|Chapter 4 - Sales, Exchanges, and Leases of Trust Lands|Part 2 - Surface Leases and Easements|Section 202 - Lease and permit covenants.

53C-4-202. Lease and permit covenants.  Each surface lease or user permit shall contain the following covenants:  (1) the lessee or permittee shall promptly pay the rent annually upon demand;     (2) no waste may be committed on the land;     (3) the premises shall be promptly surrendered at the expiration of the term;     (4) the lessee or permittee may not sublet or assign without the prior written consent of the director;     (5) failure to pay the agreed rent for a period of one month from the time rent is due shall result in a forfeiture of the lease or permit after notice; and     (6) where authorized improvements have been placed on the land by any person other than the lessee or permittee, the director may require the lessee or permittee to allow the owner of the improvements to remove them within 90 days.    Amended by Chapter 299, 1995 General Session
UT Code § 53C-4-203 (2021)
2021 Utah Code|Title 53C - School and Institutional Trust Lands Management Act|Chapter 4 - Sales, Exchanges, and Leases of Trust Lands|Part 2 - Surface Leases and Easements|Section 203 - Easements on trust lands -- Director to establish rules.

53C-4-203. Easements on trust lands -- Director to establish rules.    (1) The director shall establish rules for the issuance of easements on, through, and over any trust land, and may establish price schedules.     (2) A patent for trust lands is subject to any valid existing easement or public right-of-way.    Amended by Chapter 299, 1995 General Session
UT Code § 53C-4-301 (2021)
2021 Utah Code|Title 53C - School and Institutional Trust Lands Management Act|Chapter 4 - Sales, Exchanges, and Leases of Trust Lands|Part 3 - Exchanges and Grants|Section 301 - Exchange of trust lands -- Based on equal value -- Lands encumbered by a lease.

53C-4-301. Exchange of trust lands -- Based on equal value -- Lands encumbered by a lease.    (1)   (a) In accordance with rules of the director, trust lands or other trust assets may be exchanged for other land or other assets.     (b) The director shall deliver the necessary patents to other proprietors and receive proper deeds for the lands exchanged.     (c) The director shall issue, deliver, and accept conveyance documents in land exchanges in accordance with accepted real estate closing practices.       (2)   (a) If trust lands are encumbered by an existing lease, the director may, upon approval of an exchange, and with the consent of the lessee, terminate the existing lease and issue a lease of the same type on lands which may be acquired in the same exchange in which the leased lands are used as base.     (b) The state shall honor all vested rights upon acceptance of exchanged lands.      Amended by Chapter 247, 2011 General Session
UT Code § 53C-4-302 (2021)
2021 Utah Code|Title 53C - School and Institutional Trust Lands Management Act|Chapter 4 - Sales, Exchanges, and Leases of Trust Lands|Part 3 - Exchanges and Grants|Section 302 - Public land grants -- Board and director to request a survey.

53C-4-302. Public land grants -- Board and director to request a survey.  The board and director shall take all necessary steps to encourage the federal Bureau of Land Management to complete the survey of public unsurveyed lands for the purpose of satisfying the public land grants to this state in accordance with federal law.  Enacted by Chapter 294, 1994 General Session
UT Code § 53C-4-303 (2021)
2021 Utah Code|Title 53C - School and Institutional Trust Lands Management Act|Chapter 4 - Sales, Exchanges, and Leases of Trust Lands|Part 3 - Exchanges and Grants|Section 303 - Public land grants -- Procedures for selection of additional lands.

53C-4-303. Public land grants -- Procedures for selection of additional lands.    (1) All selections of land shall be made in legal subdivisions according to the United States survey.     (2) When a selection has been made and approved by the director, the director shall take action necessary to secure the approval of the proper officers of the United States and the final transfer of the lands selected to this state.     (3) The director may cancel, relinquish, or release the claims of the state to, and may reconvey to the United States, any particular tract of land erroneously listed to the state, or any tract upon which, at the time of selection, a bona fide claim has been initiated by an actual settler.    Enacted by Chapter 294, 1994 General Session
UT Code § 53C-4-304 (2021)
2021 Utah Code|Title 53C - School and Institutional Trust Lands Management Act|Chapter 4 - Sales, Exchanges, and Leases of Trust Lands|Part 3 - Exchanges and Grants|Section 304 - Public land grants -- Transcription of selected lands to be sent to county recorders.

53C-4-304. Public land grants -- Transcription of selected lands to be sent to county recorders.    (1) The director shall receive clear lists to lands in this state from the Department of the Interior.     (2) Within 90 days of receipt, the director shall transmit to the county recorders a certified transcript of all lands within their respective counties selected and approved for this state under federal law.     (3) The county recorder shall immediately, upon receipt of the certified transcripts, enter them in the records of the recorder's office.     (4) Any certified transcript required by this section, when recorded, shall be accepted in lieu of the original approved lists, and shall be sufficient evidence of the conveyance of the lands described in it by the United States to the state.    Enacted by Chapter 294, 1994 General Session
UT Code § 53D-1-101 (2021)
2021 Utah Code|Title 53D - School and Institutional Trust Fund Management and Land Trusts Protection and Advocacy Office|Chapter 1 - School and Institutional Trust Fund Management Act|Part 1 - General Provisions|Section 101 - Title.

 Effective 7/1/2018  53D-1-101. Title.    (1) This title is known as "School and Institutional Trust Fund Management and Land Trusts Protection and Advocacy Office."     (2) This chapter is known as the "School and Institutional Trust Fund Management Act."    Amended by Chapter 448, 2018 General Session
UT Code § 53D-1-102 (2021)
2021 Utah Code|Title 53D - School and Institutional Trust Fund Management and Land Trusts Protection and Advocacy Office|Chapter 1 - School and Institutional Trust Fund Management Act|Part 1 - General Provisions|Section 102 - Definitions.

 Effective 5/14/2019  53D-1-102. Definitions.  As used in this chapter:  (1) "Account" means the School and Institutional Trust Fund Management Account, created in Section 53D-1-203.     (2) "Advocacy office director" means the director of the Land Trusts Protection and Advocacy Office, appointed under Section 53D-2-203.     (3) "Beneficiaries":   (a) means those for whose benefit the trust fund is managed and preserved, consistent with the enabling act, the Utah Constitution, and state law; and     (b) does not include other government institutions or agencies, the public at large, or the general welfare of the state.       (4) "Board" means the board of trustees established in Section 53D-1-301.     (5) "Director" means the director of the office.     (6) "Enabling act" means the act of Congress, dated July 16, 1894, enabling the people of Utah to form a constitution and state government and to be admitted into the Union.     (7) "Land Trusts Protection and Advocacy Office" or "advocacy office" means the Land Trusts Protection and Advocacy Office created in Section 53D-2-201.     (8) "Nominating committee" means the committee established under Section 53D-1-501.     (9) "Office" means the School and Institutional Trust Fund Office, created in Section 53D-1-201.     (10) "Trust fund" means money derived from:   (a) the sale or use of land granted to the state under Sections 6, 8, and 12 of the enabling act;     (b) proceeds referred to in Section 9 of the enabling act from the sale of public land; and     (c) revenue and assets referred to in Utah Constitution, Article X, Section 5, Subsections (1)(c), (e), and (f).      Amended by Chapter 136, 2019 General Session
UT Code § 53D-1-104 (2021)
2021 Utah Code|Title 53D - School and Institutional Trust Fund Management and Land Trusts Protection and Advocacy Office|Chapter 1 - School and Institutional Trust Fund Management Act|Part 1 - General Provisions|Section 104 - Attorney general representation.

 Effective 5/9/2017  53D-1-104. Attorney general representation.    (1) The attorney general shall:   (a) represent the board, director, and office in any legal action relating to the trust fund;     (b) undertake suits for damages and any other necessary or appropriate relief in the name of the trust fund and the state; and     (c) ensure that legal counsel assigned to provide legal counsel to the board, director, and office is present at board meetings as needed.       (2) The attorney general may institute an action to enforce this chapter or to protect the interests of beneficiaries.    Amended by Chapter 179, 2017 General Session
UT Code § 53D-1-105 (2021)
2021 Utah Code|Title 53D - School and Institutional Trust Fund Management and Land Trusts Protection and Advocacy Office|Chapter 1 - School and Institutional Trust Fund Management Act|Part 1 - General Provisions|Section 105 - Annual audit by state auditor.

 Effective 7/1/2014  53D-1-105. Annual audit by state auditor.    (1) The state auditor shall conduct an annual audit of the trust fund money and assets on a fund by fund basis, including:   (a) an evaluation of the independent custodial arrangements made for the management and investment of trust fund money and assets; and     (b) a verification of the accuracy of the office's report of returns generated on the office's investments.       (2) The state auditor shall:   (a) report the results of an audit under this section in writing; and     (b) make the written audit report available to the public.       (3) The state auditor shall consult with the board at least annually as to whether additional matters should be included within the scope of the annual audit.    Enacted by Chapter 426, 2014 General Session
UT Code § 53D-1-201 (2021)
2021 Utah Code|Title 53D - School and Institutional Trust Fund Management and Land Trusts Protection and Advocacy Office|Chapter 1 - School and Institutional Trust Fund Management Act|Part 2 - School and Institutional Trust Fund Office|Section 201 - School and Institutional Trust Fund Office -- Status -- Duties.

 Effective 7/1/2014  53D-1-201. School and Institutional Trust Fund Office -- Status -- Duties.    (1) There is created within state government the School and Institutional Trust Fund Office.     (2) The office is an independent state agency within the executive branch and is not a division of any other executive branch department.     (3) The office shall manage the trust fund.     (4) No later than September 1 of each year, the office shall provide to the Division of Finance financial information for the prior fiscal year that the Division of Finance requests for financial reporting purposes.    Enacted by Chapter 426, 2014 General Session
UT Code § 53D-1-202 (2021)
2021 Utah Code|Title 53D - School and Institutional Trust Fund Management and Land Trusts Protection and Advocacy Office|Chapter 1 - School and Institutional Trust Fund Management Act|Part 2 - School and Institutional Trust Fund Office|Section 202 - Access to office records and personnel.

 Effective 7/1/2018  53D-1-202. Access to office records and personnel.    (1) The office shall provide board members and the advocacy office director access to all office records and personnel as necessary for board members and the advocacy office director to fulfill their responsibilities to ensure that the office is in full compliance with applicable law and policies.     (2) If the director requires, board members and the advocacy office director shall maintain confidentiality of information they obtain from office records and personnel.    Amended by Chapter 448, 2018 General Session
UT Code § 53D-1-203 (2021)
2021 Utah Code|Title 53D - School and Institutional Trust Fund Management and Land Trusts Protection and Advocacy Office|Chapter 1 - School and Institutional Trust Fund Management Act|Part 2 - School and Institutional Trust Fund Office|Section 203 - Funding of office operations.

 Effective 5/14/2019  53D-1-203. Funding of office operations.    (1) As used in this section, "trust fund earnings" includes any of the following that is in excess of the trust fund corpus:   (a) realized or unrealized gains;     (b) interest;     (c) dividends;     (d) other income; or     (e) other sources of revenue.       (2) There is created an enterprise fund known as the School and Institutional Trust Fund Management Account.     (3) The account is funded by money deposited into the account as provided in Subsection (4).     (4) Except as provided in Subsection (5)(b), the director shall deposit into the account an amount of money from the trust fund earnings equal to the annual appropriation that the Legislature makes to the office, to pay for the office's operating costs.     (5)   (a) The office may use money in the account to pay for the office's operating costs.     (b) If the amount of money deposited into the account under Subsection (4) in any fiscal year exceeds the amount required by the office during that fiscal year to fund the office's operations, the office shall, in the following fiscal year, reduce the amount deposited into the account under Subsection (4) by the amount of the unspent appropriation.       (6)   (a) The office may deduct from trust fund earnings:   (i) the cost for any audit, risk management, consulting, equipment, legal services, software, research, or custodial services; or     (ii) manager fees incurred in managing the trust fund assets.       (b) The costs and fees described in Subsection (6)(a) are separate from and in addition to the office's operating costs that are paid from the account.      Amended by Chapter 191, 2019 General Session
UT Code § 53D-1-301 (2021)
2021 Utah Code|Title 53D - School and Institutional Trust Fund Management and Land Trusts Protection and Advocacy Office|Chapter 1 - School and Institutional Trust Fund Management Act|Part 3 - School and Institutional Trust Fund Board of Trustees|Section 301 - Board of trustees -- Creation -- Membership.

 Effective 5/12/2015  53D-1-301. Board of trustees -- Creation -- Membership.    (1) There is created a School and Institutional Trust Fund Board of Trustees.     (2) The board consists of:   (a) the state treasurer; and     (b) four additional members who are appointed by the state treasurer on a nonpartisan basis from a list of at least two qualified candidates per position, nominated by the nominating committee, as provided in Section 53D-1-503.       (3) The state treasurer shall appoint members under Subsection (2)(b) who possess:   (a) outstanding professional qualifications pertinent to the prudent investment of trust fund money; and     (b) expertise in institutional investment management.       (4)   (a) The term of a board member under Subsection (2)(b) is six years.     (b) Notwithstanding Subsection (4)(a), the nominating committee shall stagger terms of initial board members so that the term of not more than one member expires in any year.     (c) A board member may not serve consecutive terms, except that:   (i) a board member whose term is less than six years because of the staggering of terms under Subsection (4)(b) may serve a full consecutive term after the completion of the initial term; and     (ii) a member appointed to fill a vacancy may serve a full consecutive term after filling a previous unexpired term.       (d) A board member shall serve until a successor is appointed, confirmed, and qualified.       (5) Before assuming duties as a board member, a member shall take an oath of office that includes the following: "I solemnly swear to carry out my duties as a member of the School and Institutional Trust Fund Board of Trustees and to act with undivided loyalty to the beneficiaries of the trust fund that the board oversees, to the best of my abilities and consistent with the law."     (6) The state treasurer may remove a board member for cause, subject to the affirmative vote of at least two other board members, besides the state treasurer.     (7) The state treasurer shall fill a vacancy in the same manner as the initial appointment under Subsection (2)(b).     (8) A board member may not receive any compensation or benefits for the member's service, but the member may receive per diem and travel expenses in accordance with:   (a) Section 63A-3-106;     (b) Section 63A-3-107; and     (c) rules made by the Division of Finance pursuant to Sections 63A-3-106 and 63A-3-107.      Amended by Chapter 258, 2015 General Session
UT Code § 53D-1-302 (2021)
2021 Utah Code|Title 53D - School and Institutional Trust Fund Management and Land Trusts Protection and Advocacy Office|Chapter 1 - School and Institutional Trust Fund Management Act|Part 3 - School and Institutional Trust Fund Board of Trustees|Section 302 - Board chair and vice chair -- Quorum.

 Effective 7/1/2014  53D-1-302. Board chair and vice chair -- Quorum.    (1)   (a) The state treasurer is the chair of the board.     (b) The chair shall faithfully represent the will of the board to the extent the board's will is consistent with state law.       (2)   (a) The board shall annually select a vice chair from its membership.     (b) The vice chair shall act as chair in the absence of the chair.       (3)   (a) Three members of the board constitute a quorum for the purpose of holding a meeting.     (b) Unless otherwise specified in this title, an action of the board requires the affirmative vote of at least three members.      Enacted by Chapter 426, 2014 General Session
UT Code § 53D-1-303 (2021)
2021 Utah Code|Title 53D - School and Institutional Trust Fund Management and Land Trusts Protection and Advocacy Office|Chapter 1 - School and Institutional Trust Fund Management Act|Part 3 - School and Institutional Trust Fund Board of Trustees|Section 303 - Board authority and duties.

 Effective 5/8/2018  53D-1-303. Board authority and duties.    (1) The board has broad policymaking authority over the office and the trust fund.     (2)   (a) The board shall establish policies for the management of:   (i) the office, including:   (A) an investment management code of conduct and associated compliance policy;     (B) a policy for the strategic allocation of trust fund assets;     (C) a soft dollar policy; and     (D) a policy articulating the board's investment philosophy for trust fund assets; and       (ii) the trust fund.       (b) Policies that the board adopts shall:   (i) be consistent with the enabling act, the Utah Constitution, and other applicable state law;     (ii) reflect undivided loyalty to the beneficiaries consistent with fiduciary duties;     (iii) be designed to prudently optimize trust fund returns and increase the value of the trust fund, consistent with the balancing of short-term and long-term interests, so that the fiduciary duty of intergenerational equity is met;     (iv) be designed to maintain the integrity of the trust fund and prevent the misapplication of money in the trust fund;     (v) enable the board to oversee the activities of the office; and     (vi) otherwise be in accordance with standard trust principles as provided by state law.         (3) The board shall:   (a) establish a conflict of interest policy for the office and board members;     (b) establish policies governing the evaluation, selection, and monitoring of independent custodial arrangements;     (c) ensure that the office is managed according to law;     (d) establish bylaws to govern the board;     (e) establish the compensation of the director;     (f) annually examine the compensation and performance of the director as part of the board's budget review process;     (g) annually report the director's compensation to the Legislature; and     (h)   (i) adopt policies to provide for annual training of board members regarding their duties and responsibilities; and     (ii) ensure that any training described in Subsection (3)(h)(i) complies with Title 63G, Chapter 22, State Training and Certification Requirements.          (4) The board may:   (a) after conferring with the director:   (i) hire one or more consultants to advise the board, director, or office on issues affecting the management of the trust fund; and     (ii) pay compensation to any consultant hired under Subsection (4)(a)(i), subject to budgetary constraints; and       (b) submit to the director a written question or set of questions concerning policies and practices affecting the management of the trust fund.      Amended by Chapter 200, 2018 General Session