Section 53D-1-401 - Appointment of director - Qualifications - Nature of employment - Removal by petition(1) The office shall be managed by a director.(2) If there is a vacancy in the director position, the board shall appoint an individual as director.(3) The board shall ensure that an individual appointed as director possesses: (a) outstanding professional qualifications pertinent to the prudent investment of trust fund money; and(b) expertise in institutional investment management.(4) The director is an at-will employee who may be removed by the board at any time with or without cause.(5)(a) The advocacy office director may submit a written petition to the board requesting the board to remove the director for cause, explained in the petition.(b) The board shall hold a hearing on a petition under Subsection (5)(a) within 45 days after receiving the petition.(c) If, after holding a hearing, the board finds by a preponderance of the evidence that there is cause for removing the director, the board shall remove the director.Amended by Chapter 448, 2018 General Session ,§ 7, eff. 7/1/2018.Amended by Chapter 179, 2017 General Session ,§ 3, eff. 5/9/2017.Added by Chapter 426, 2014 General Session ,§ 17, eff. 7/1/2014.