Section 67-19f-202 - Board of trustees of the State Employees' Annual Leave Trust Fund(1)(a) There is created a board of trustees of the State Employees' Annual Leave Trust Fund composed of the following three members: (i) the state treasurer or the state treasurer's designee;(ii) the director of the Division of Finance or the director's designee; and(iii) the executive director of the Governor's Office of Planning and Budget or the executive director's designee.(b) The state treasurer is chair of the board.(c) Three members of the board is a quorum.(d) A member may not receive compensation or benefits for the member's service, but may receive per diem and travel expenses as allowed in:(ii) Section 63A-3-107; and(iii) rules made by the Division of Finance according to Sections 63A-3-106 and 63A-3-107.(e)(i) Except as provided in Subsection (1)(e)(ii), the state treasurer shall staff the board of trustees.(ii) The Division of Finance shall provide accounting services for the trust fund.(2) The board shall: (a) on behalf of the state, act as trustee of the trust fund created under Section 67-19f-201 and exercise the state's fiduciary responsibilities;(b) meet at least twice per year;(c) review and approve the policies, projections, rules, criteria, procedures, forms, standards, performance goals, and actuarial reports for the trust fund;(d) review and approve the budget for the trust fund;(e) review financial records for the trust fund, including trust fund receipts, expenditures, and investments; and(f) do any other things necessary to perform the state's fiduciary obligations under the trust fund.(3) The board may: (a) commission and obtain actuarial studies of the liabilities for the trust fund; and(b) for purposes of the trust fund, establish labor additive rates to charge for the administrative expenses of the trust fund.(4) The attorney general shall: (a) act as legal counsel and provide legal representation to the board of trustees; and(b) attend, or direct an attorney from the Office of the Attorney General to attend, each meeting of the board of trustees.Amended by Chapter 368, 2015 General Session ,§ 5, eff. 5/12/2015.Added by Chapter 437, 2014 General Session ,§ 5, eff. 5/13/2014.