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3
61-1-18.7
0
Securities Investor Education, Training, and Enforcement Fund Amendments
2026 GENERAL SESSION
STATE OF UTAH
Chief Sponsor: Michael K. McKell
House Sponsor: David Shallenberger
LONG TITLE
General Description:
This bill increases the cap limit on the Securities Investor Education, Training, and
Enforcement Fund.
Highlighted Provisions:
This bill:
increases the cap limit on the Securities Investor Education, Training, and Enforcement
Fund from $500,000 to $1,000,000; and
makes technical changes.
Money Appropriated in this Bill:
None
Other Special Clauses:
None
Utah Code Sections Affected:
AMENDS:
61-1-18.7
, as last amended by Laws of Utah 2013, Chapter 400
Be it enacted by the Legislature of the state of Utah:
Section 1. Section
61-1-18.7
is amended to read:
61-1-18.7
. Funding of securities investor education, training, and enforcement.
(1)
(a)
There is created an expendable special revenue fund known as the "Securities
Investor Education, Training, and Enforcement Fund" to provide revenue for the
purposes stated in this section.
(b)
For purposes of
As used in
this section, "fund" means the Securities Investor
Education, Training, and Enforcement Fund.
(2)
Money
The state shall deposit money
received by the state by reason of civil penalties
ordered and administrative fines collected
pursuant to
in accordance with
this chapter
shall be deposited in
into
the fund, and is subject to the requirements of
Title 51,
Chapter 5, Funds Consolidation Act
.
(3)
A
The division shall deposit a
fine collected by the division after July 1, 1989,
pursuant to
in accordance with
a voluntary settlement or administrative order
shall be
deposited
into the fund.
(4)
(a)
The fund shall earn interest.
(b)
Interest
The division shall deposit interest
earned on fund money
shall be
deposited
into the fund.
(5)
Notwithstanding
Title 63J, Chapter 1, Budgetary Procedures Act
, the director may use
money in the fund, upon concurrence of the commission and the executive director of
the Department of Commerce, in a manner consistent with the duties of the division and
commission under this chapter and only for any or all of the following and the expense
of providing
them
the following
:
(a)
education and training of Utah residents in matters concerning securities laws and
investment decisions, by publications or presentations;
(b)
education of registrants and licensees under this chapter, by:
(i)
publication of this chapter and rules and policy statements and opinion letters
issued under this chapter; and
(ii)
sponsorship of seminars or meetings to educate registrants and licensees as to the
requirements of this chapter;
(c)
investigation and litigation; and
(d)
to pay an award to a reporter as provided in
Part 1, Securities Fraud Reporting
Program Act
.
(6)
If the balance in the fund exceeds
$500,000
$1,000,000
at the close of any fiscal year,
the
division shall transfer the
excess
shall be transferred
to the General Fund.
Section 2.
Effective Date.
This bill takes effect on
May 6, 2026
.
3-6-26 12:07 PM