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  6. Title 63H - Independent Sta...
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  8. Chapter 8 - Utah Housing Co...
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  10. Part 4 - Corporation Assets and Obligations


Part 4 - Corporation Assets and Obligations


  • Section 401 - Corporation money -- Depositing and paying out -- Power to contract with holders of notes and bonds -- Money held in trust.
  • Section 402 - State pledge to holders of notes or bonds.
  • Section 403 - Notes, bonds, other obligations -- Not a debt liability -- Expenses payable from funds provided -- Corporation without authority to incur liability on behalf of state -- Relationship to Governmental Immunity Act of Utah.
  • Section 404 - Corporation property, notes, and bonds -- Tax exemption except corporate franchise tax.
  • Section 405 - Corporation notes, bonds, obligations -- Legal investments.
  • Section 406 - Annual report to governor and Legislature -- Contents -- Audits.
  • Section 407 - Act not restriction on powers of corporation -- Construed as alternative -- Bonds, notes, obligations issued need not comply with other laws.
  • Section 408 - Allocation to corporation of mortgage bonds qualified under Internal Revenue Code.
  • Section 409 - Allocation of qualified mortgage bonds to counties, cities, and towns.
  • Section 410 - Low-income housing tax credits.
  • Section 411 - Asset disposition upon dissolution of corporation.
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