Additional investments. In addition to an investment otherwise authorized by law or by the applicable donative instrument, and without restriction to investments a fiduciary may make, a governing board, subject to any specific limitations set forth in the applicable donative instrument or in the applicable law other than law relating to investments by a fiduciary, may:
1. Invest and reinvest an institutional fund in any real or personal property deemed advisable by the governing board, whether or not it produces a current return, including mortgages, stocks, bonds, debentures and other securities of profit or nonprofit corporations, shares in or obligations of associations, partnerships or natural persons, and obligations of any government or governmental subdivision or instrumentality;
2. Retain property contributed by a donor to an institutional fund for as long as the governing board deems advisable;
3. Include all or any part of an institutional fund in any pooled or common fund maintained by the institution; and
4. Invest all or part of an institutional fund in any other pooled or common fund available for investment, including shares or interests in regulated investment companies, mutual funds, common trust funds, investment partnerships, real estate investment trusts or similar organizations in which funds are commingled and investments are determined by persons other than the governing board.
Last modified: February 25, 2006