63M-1-1211 - Management fee -- Additional financial assistance.
63M-1-1211. Management fee -- Additional financial assistance.
(1) The corporation may charge a management fee on assets under management in theUtah fund of funds.
(2) The fee shall:
(a) be in addition to any fee charged to the Utah fund of funds by the venture capitalinvestment fund allocation manager selected by the corporation; and
(b) be charged only to pay for reasonable and necessary costs of the corporation.
(3) The corporation may apply for and, when qualified, receive financial assistance fromthe Industrial Assistance Account under Title 63M, Chapter 1, Part 9, Industrial AssistanceAccount, and under rules made by the Board of Business and Economic Development inaccordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, to help establish theprogram authorized under this part.
Amended by Chapter 278, 2010 General Session