Board and administration subject to Public Officers' and Employees' Ethics Act.
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(1) Board members, the director, employees, and agents of the administration are subject to the requirements of Title 67, Chapter 16, Utah Public Officers' and Employees' Ethics Act, and to any additional requirements established by the board.
(2) A board member, the director, or an employee of the administration may not directly or indirectly acquire any interest in trust lands or receive any direct benefit from any transaction dealing with trust lands, except as provided by law and after providing notice to the board, director, attorney general, and the governor.