- 1. The applicant must be the beneficiary of the land under application.
- 2. The agreed use must be a prudent use of the property, taking into account related plans and programs approved by the institution, the opportunity cost of the in-kind use and the effect of that use on the management of other institutional trust lands.
- 3. The in-kind use must not result in net derogation of trust asset value.
- 4. The in-kind use must be consistent with the institution's constitutional and statutory mandate.
The agency may enter into agreements for in-kind use of institutional trust land by its beneficiary. The criteria by which an application will be considered are:
KEY: beneficiaries, land use, administrative procedures
Date of Last Change: March 4, 2003
Notice of Continuation: January 6, 2022
Authorizing, and Implemented or Interpreted Law: 53C-1-302(1)(a)(ii); 53C-2-201(1)(a); 53C-4-101(1)