§ 63N-6-303. Board of directors.

(1) The corporation's board of directors comprises the state treasurer and two individuals designated by the state treasurer. (2) Two members of the board are a quorum for the transaction of business. (3) Members of the board of directors: (a) are subject to any restrictions on conflicts of interest specified in the organizational documents of the corporation; and (b) may not participate in a vote by the board of directors related to an investment by the Utah fund of funds, if the member has an interest in the investment. (4) Directors of the corporation: (a) shall be compensated for direct expenses and mileage; and (b) may not receive a director's fee or salary for service as directors.