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Show ill n MONDAY, NOVEMBER 25, PAGE SEVENTEEN INTERMOUNT A IN COMMERCIAL RECORD 1974 Uniform Commercial Code Filings Office of Attorney General State of Utah November S. 200 E. 36, 84115 to Valy Bk piano. OriNIOlI NO. 74-- 37 0 97 6 --LONDON 1341 S. COMMODITY Wlkr Trst 15, 1974 Questions: out-of-st- an (3) Inc; lathe. 2025 W. Jrdn, UT dryer, piano. 025- Tund co- S. State 84107 to ate The" state treasurer is a whose power saw, equip. that all state money under legislature clearly felt ho kept in local "qualified but that securities could be deposited with a depositories', in any of the "financial centers" for specified fiscal agent is It clear from the context that "financial centers" purposes meant cities outside the state of Utah.4 Regardless, our supremo court in Allen v. Ramp ton5 made it clear that the treasurer chooses his own depositories , and presumably these may be either within or outside the state. The court's opinion said: "To impose 'ministers' upon him whom he can neither hire nor fire and who can choose the depositories for funds entrusted to his care n, which, if lost, will result in liability to him and his with his constitutional rights and is an undue interference duties". (emphasis added) It appears therefrom that the treasurer may deposit oitiier securities or money in banks outside The ID 69 bonds--ma- What is said immediately ; above as to the use of out-of-st- ate force to tho use of indepositories applies with equal fund securities. of retirement state dejjositories for the holding This office has previously held tiiat tho treasurer may use a commercial bank for the deposit of retirement fund money.11 llcn v. 2Scc. Rampton, 23 Utah 2d 336, 463 P.2d 7 4 60pinion Ho. issued . - quipk . to - BLAHHHE B., F. Loan Co; AL & RUBY, furn, appli, piano, stereo, t.v., range, 'i refrig. 600 V' DIXIE, 81 UT 84070 Sandy, S., NaticnW Fin Corp; HH to furn, appli. GILBERT 953,-RICUI- JED W. IE, 1505 Jrdn, appli, 954-BLU- I1HG, QUALIFICATIONS: 606 E. 124p0 ELAINE, h: 7. .M S., to Peoples IstThrft; furn, appli, HUG, fixtures. kv, 956- - SMITHLER, ALBERT & HAZEL, UT Drpr, 84020 . N. 300 W., SLC, 158 UT to NationW Fin Corp; HH furn, appli, fixtures, t.v., radio, toastmaster, floor fan, table lamps. & Little DONALDS 957-WILC- JOYCE, 1514 SLC, UT 84104 W. Fin Corp; ' E. & 7th S., to NationW rifle. LTD. of the fund or funds is invested, Our CPT Secretary minute INC.. types at the rate of search to any characters per second. words per she can documents at the rate of 6000 EXPERIENCE: Our CPT Secretary can handle text-editin- g enter variables within standof previously typed work all done in seconds. ard phraseology SALARY REQUIREMENTS: $122.27 per month - no vacations necessary. (emphasis In providing for the holding, etc., of the securities, the Retirement Board may determine that it will facilitate the sale and transfer thereof to have them hold in a nominee name, thus tho fund by producing increased earnings. Such is benefittingcommercial securities, and tho usual practico for handling such not Board elect to Retirement nay no reason appears why tho follow that practico. treasurer shall serve without 11 says: "Tho statefunds." In such usage, the cltirao Sac funclor 'custodian of the as 8 last paragraph, Sec. includes the securities. stages: "investment expenses incurred by the retirement office the und. the in managing tho fund shall bo paid from of the From these statutes wo conclude that the bare holding is the the treasurer's choosing securities by a treasurer. of . To the extent that the depository tho properly treated as renders other or additional services, of managing the fund, suchmay be or expense nvesnt expense from contracted for by the retirement office and paid for oarnings of tho fund., 186 absolutely error free. Our CPT Secretary has an infallible memory FOR PERSONAL INTERVIEW PLEASE CALL TYPE-A-lI- N Business Machine Co. , i fixtures, MICHAEL W. & M, 49-9-- 10, if: 58, Peoples 1st Thrft; furn, 49-9-- Ivi 825 S, 84084 to W. UT 168 East 2nd South - . W. & LEGAL SECRETARY FOR HIRE 32274. added) i 1st furn, appli. 1111 Mi Cottonwood Rd. , Sandy, UT 84070 to FMA Leasing Co; personalty. 049 --RAY BETHERS INC., 176 sound financing adequately safeguarded. .The .board may invest and reinvest the money in the retirement fund or funds and may provide for the holding, purchasing, disposing of any assigning, transferring and which selling, in and any of the investments of the securities I Loan refrig units. - CO., 9346 3070 & 950- JEFFERY, SHERRY L. , 3169 W. 3550 S. 2, Grngr, UT Thrft & 84119 to Mur Leasing Co; eqdip. LYNN IstThrft S., , 1220 E. 3900 S. 2E, SLC , UT 84117 to FMA Leasing Co; personalty. 046- - STOWELL, CHARLES A. DBA property. , SLC.UT 84105 E, 84104 to Zions 1st Natnl Bk; diesel self contained DENNIS D., MD & SEIOVICK, ROBERT M., MD, & M., 1898 943- - ENGIAND, C.R, & SONS, 975 W. 2100 SLC, UT, 045 --THO EN, - STRINGUAM 84104 Loan Co; Co; con gds. UT FMA & . - 49-9-- 11, ' 10th Mur UT 435 N. 1000 W., SLC, UT 84116 to NationW Fin Corp; 84122 toFMA Leasing Co; equip. SLC, LOR ETTA S. INC., 209 N. 2400 W., - The name in which money UTAH SLC, IstThrft 9 51 --ARCHULETA, 044- - TH0MBS0N "FLYING SERVICE, 048- CAMER0N, retirement fund securities are held is of tho Retirement Uoard. Although such decision to tho subject securities may be registered and held in the name of the Utah 3tate retirement fund7, they apparently may bo handled differently. U.C.A. 1953, states, in pertinent part: Sec. The retirement board shall have the control of the investment of any and all funds assigned to the retirement board or retirement office for investment. The board shall determine the method of investing the funds to insure the greatest return commensurate with (3) Mur - 1300 W. 3rd N. , SLC , UT 84116 to FMA Leasing Co; (19G9) . 1. 11 Andrew, to S. 700 E. , Sandy, UT 84070 to FMA Leasing Co; Sec. U.C.A. 1953, enacted as Sec. 21, Chapter 206, Laws of Utali 1969. 74-0- - 047- 51-4- -2, footnote St., UT 040- BIG BROTHERS OF to 51-6-- 19, See W. HUG. 942- STOCK, FABRICATING, 2364 S. Redwood Rd., SLC, UT 84119 U.C.A. 1953, second paragraph, enacted as Sec. 28, 'Chapter 206, Laws of Utah 1969. 3Sec. Fin Serv; cmpr. ' 941- - CHACON, JOHN G., 1280 CIT STGWELL WELDING & U.C.A. 1953. 49-9-- 10, structure. - 84115 to FMA Co; Leasing copier, SLC, UT; 940- VIALPANDO, JOSE, 554 W. 500 N., SLC, UT to UNION LEAGUE INC., 1706 Major the control of the treasurer should (2) DOS, . - of Bk air supported, 2 tennis court enclosure cidair , 038 --NIELSEN, BRENT B. CONST. CO., 2056 llazelwood Way, SLC, UT 84121 to FMA Leasing Co; mtttor, table 039- UTAH CREDIT to assignment of lease, one' sofa. ate R. & & ELLSWORTH , 4781 Wander Ln. , SLC, UT equip. out-of-st- state. JAMES 035 --TOTAL CONCEPT, 4970 S. 900 E., SLC, UT 84117 to FMA Leasing Co; personalty. 037 -JONES, BRYCE C., 1399 Greenwood Dr., Sandy, UT 84070 to FMA Leasing Co; 49-9-- 11, the B., &URUSIA, N. BARRY JAMES CADDIS, 3920 S. 1100 E. 330, SLC, UT 84117 to FMA Leasing Co; personalty, qualifications set forth in HENRY Marina; boat, equip, mtr. St., SLC, UT Inter Mountain - FMA dictaphone. Co; 4185 Whippoorwhil St., SLC, UT 84120 to Grent Western Recreation dba Silver Sands Beacy: & C0., 4200 034- CROWTHER, BRUCE of public moneys" are set forth in Article 7, Section 17 of the Constitution. 1'c may, by law, be given additional duties, but statutes may not divest him of any power or prerogatives encompassed within the constitutional grant. U.C.A. 1953, makes him custodian of the 'state's Sec. which is a common trust fund and vhich includes retirement fund, securities.2 The question is whether ho may hold and both cash fund in an of retirement the depository. the securities and duty, as "the custodian Leasing & CO. to SLC, Ur 84101 TS, 2975 S. W. Temple, SLC, UT 84115 to Coca-Co- la Bottling Co; cavalier. ' constitutional officer Phillips , & DORENE SERVICE G., 409 Petroleum Bldg., Assoc ofCr Men; unlisted. the opinion. - W. & HARRY Co PHYSICS 026- - WORTHINGTON (2) Yes. UK- W. DAYNES SYP1ILES, M, - INDUSTRIAL ELECTRONICS out-of-st- ate (4) Yes, with cleaner. 055-SUA- Camelot Way, W. 84084 to Trane Employees Cr. Union; washer, ntract and pay for such services as may bo requireddepository or if arc used? depositories (1) Vcs. (3) Yes. J. INC., 1201 S. 7th W., SLC, UT 84120 to FMA Leasing Co; & WILCOX, RALPH 447-024-M- E FMA CENTER, A. , 8945 S. 1300 .W..Jrdn, UT 84084 to Skyline Distributing S. 3rd to to Leasing Co; furn. FURNISHINGS, LAMAR DAT SUN, ATTORNEY, 525 SLC, UT 84111 UT JAMES name? Ansvors : Co; HOME & POWELL, . in-st- to 996-CUST- OM ate State Retirement 2775 UT 84115 S. Main, SLC, FMA Leasing Co; equip. 052 --ROBERT SON , C. GLENN, OPTIONS, SLC.UT DBA DAT SUN RANDY'S INC., 4140 W. 5415 S., Krns, UT to Borg --Warner Acceptance Corp; inventory. INDUSTRIES, INC., ate (4) May the Utah Co; D, , 2245 BRUCE ND depository to hold securities owned by the Utah State Retirement Tund? May tho Utah State Retirement Fund register' its securities in a nominee in-st- Trst & Parleys Terrace, SLC, to Wlkr Bk & Trst Co; unlisted.1' State Retirement Board Vernon D. Romney, Attorney General K. Roger Dean, Assistant Attorney Goner al (1) May the state treasurer in his capacity as custodian of the State Retirement Fund select an depository and transfer Retirement Fund securities in his possession to such depository for safekeeping? (2) May the state treasurer as custodian of the Utah State Retirement Fund select Utah Prepared by: Bk & TE, Leonard McDonald, Executive Director Requested by: STate, unlisted. 985-WHI- Central Ave. , SLC , UT 84107 to' FMA Leasing Co; copy machine. W. 3405 SIX, UT RANEE, 446-971-BA- HR, Salt Lake City - Phone 322 1 249 |