51-7-6 - Calculation of shares of participating funds -- Allocations of income to participating funds. - Utah Statutes

51-7-6. Calculation of shares of participating funds -- Allocations of income toparticipating funds.
(1) The share of public funds of each participating public treasurer who has transferredpublic funds to the state treasurer for investment under Section 51-7-5, including trust fundsinvested by the state treasurer under this chapter, shall be calculated not less than quarterly.
(2) Income from investment of these public funds by the state treasurer, including gainsor losses from the sale or exchange of investments or other properties, and net of investment feesand other charges assessed according to the schedule established by the state treasurer, shall beallocated to each participating fund on the ratio of each fund's share to the total public funds in thecustody of the state treasurer determined on the basis of the average daily balance of each fund.

Amended by Chapter 66, 1989 General Session