Section 707 - Spending restrictions -- Return of endowment.

UT Code § 9-8-707 (2019) (N/A)
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(1) A qualifying organization that has received endowment money from funds made available for that purpose: (a) may not expend the money or the required matching money in the endowment fund; and (b) may expend the interest income earned on the money in the endowment fund.

(a) may not expend the money or the required matching money in the endowment fund; and

(b) may expend the interest income earned on the money in the endowment fund.

(2) If a qualifying organization expends money in violation of Subsection (1), the qualifying organization shall return the amount of money allocated by the division under this part to the Division of Finance.