Board's duty of ordinary business care and prudence
Sec. 12. In operating under this chapter, the governing board shall
exercise ordinary business care and prudence under the facts and
circumstances prevailing at the time of the action or decision. In so
doing, the governing body shall consider long and short term needs
of the institution in carrying out its purposes, its present and
anticipated financial requirements, expected total return on its
investments, price level trends, and general economic conditions.
As added by P.L.268-1989, SEC.1. Amended by P.L.199-1991,
SEC.2.
Last modified: May 27, 2006