Section 63G-28-401 - Governor authority to execute host agreement - Legislative notice(1) Subject to Subsection (3), the governor may: (a) enter into a host agreement on behalf of the state that provides: (i) state security for: (A) amounts owed by the state to a site selection committee for claims by third parties arising out of or relating to the games; and(B) a financial deficit accruing to the state as a result of hosting the games; and(ii) other terms necessary for the state to host the games; and(b) make a host assurance on behalf of the state that is necessary for the state to host the games.(2) The state security under a host agreement may not be paid until after: (a) any security provided by the host committee or another person is expended and exhausted; and(b) the limits of any available insurance policy are expended and exhausted.(3) The governor shall: (a) ensure a host agreement includes: (i) a requirement that a signatory of the host agreement mitigate damages if the signatory breaches the host agreement;(ii) a provision allowing the state to terminate the host agreement for another signatory's unlawful activity; and(iii) other provisions that protect: (A) the state against liability under the host agreement; and(B) the state's financial assets; and(b) provide a copy of a host agreement or host assurance to the games committee and the Legislative Management Committee at least 72 hours before entering into the host agreement or making the host assurance.Added by Chapter 14, 2023 General Session ,§ 7, eff. 5/3/2023.