- In order to facilitate the investment, reinvestment, sale, and disposition of corporate stocks, the board of trustees is authorized to hold certificates of stock in the name of a nominee of its selection without disclosing the fact that the certificates are held by the board of trustees or are held in a fiduciary capacity if:
- The records of the board and all reports or accounts rendered by it clearly show the ownership of the stock by the board and the facts regarding the board’s holding; and
- The nominee deposits with the board a signed statement showing the trust ownership, endorses the stock certificate in blank, and does not have possession of or access to the stock certificate except under the immediate supervision of the treasurer of Colorado Mesa university or another person that the board of trustees has designated.
- The board of trustees shall maintain a list of certificates of stock held in the names of nominees pursuant to this section and shall make the list available for public inspection during normal business hours.
- The board of trustees shall report to the joint budget committee of the general assembly at each regular session regarding the investments made and the earnings or losses derived therefrom under the provisions of this section and section 23-53-103.3. The report shall include information indicating the extent to which the investment managers hired by the board of trustees have achieved or failed to achieve the performance benchmarks established pursuant to section 23-53-103.6 (1)(b).
Source: L. 2008: Entire section added, p. 341, § 3, effective April 10. L. 2011: (1)(b) amended, (SB 11-265), ch. 292, p. 1362, § 6, effective August 10.
Cross references: For the legislative declaration in the 2011 act amending subsection (1)(b), see section 1 of chapter 292, Session Laws of Colorado 2011.