Investment powers of board
Sec. 11. Except as otherwise provided by the applicable gift
instrument or by applicable law relating to institutions or institutional
funds, the governing board may do the following:
(1) Delegate to its committees, officers, agents (including
investment counsel), or employees of the institution or the
institutional fund the authority to act in place of the board in
investment and reinvestment of institutional funds.
(2) Contract with independent investment advisors, investment
counsel or managers, banks, or trust companies to act in place
of the board in investment and reinvestment of institutional
funds.
(3) Authorize the payment of compensation for investment
advisory or management services.
As added by P.L.268-1989, SEC.1.
Last modified: May 27, 2006