Utah Code
Part 4 - Corporation Assets and Obligations
Section 408 - Allocation to corporation of mortgage bonds qualified under Internal Revenue Code.

Affected by 63I-1-263 on 7/1/2026

Structure Utah Code

Title 63H - Independent State Entities

Chapter 8 - Utah Housing Corporation Act

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.