§ 10-11802 – Managing and investing institutional funds; standard of conduct
10-11802. Managing and investing institutional funds; standard of conduct A. Subject to the intent of a donor expressed in a gift instrument, an institution, in managing and investing an institutional fund, shall consider the charitable purposes of the institution and the purposes of the institutional fund. B. In addition to complying with the duty of […]
§ 10-11803 – Appropriation for expenditure or accumulation of endowment fund; construction
10-11803. Appropriation for expenditure or accumulation of endowment fund; construction A. Subject to the intent of a donor expressed in the gift instrument, an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution determines is prudent for the uses, benefits, purposes and duration for which the endowment fund […]
§ 10-11804 – Delegation of management and investment functions
10-11804. Delegation of management and investment functions A. Subject to any specific limitation set forth in a gift instrument or in law other than this chapter, an institution may delegate to an external agent the management and investment of an institutional fund to the extent that an institution could prudently delegate under the circumstances. An […]
§ 10-11805 – Release or modification of restrictions on management, investment or purpose
10-11805. Release or modification of restrictions on management, investment or purpose A. If the donor consents in a record, an institution may release or modify, in whole or in part, a restriction contained in a gift instrument on the management, investment or purpose of an institutional fund. A release or modification may not allow a […]
§ 10-11806 – Applicability
10-11806. Applicability This chapter applies to institutional funds existing on or established after the effective date of this chapter. As applied to institutional funds existing on the effective date of this chapter, this chapter governs only decisions made or actions taken on or after that date.
§ 10-11901 – Purposes for which corporation sole may be formed
10-11901. Purposes for which corporation sole may be formed Corporations may be formed to acquire, hold and dispose of church or religious society property for the benefit of religion, for works of charity and for public worship, and of property of scientific research institutions maintained solely for pure research and without expectation of pecuniary gain […]
§ 10-11902 – Requirements for formation
10-11902. Requirements for formation A person vested with the legal title to property of a church or religious society in conformity with its constitution, canons, rites or regulations, and of a scientific research institution maintained solely for pure research and without expectation of pecuniary gain or profit, may make and subscribe to written articles of […]
§ 10-11903 – Articles of incorporation; amendment
10-11903. Articles of incorporation; amendment A. The articles of incorporation shall contain: 1. The name of the corporation. 2. The object of the corporation. 3. The estimated value of the property at the time of drawing the articles. 4. The title of the person executing the articles. B. The corporation may amend its articles. The […]
§ 10-11904 – Powers of corporation sole
10-11904. Powers of corporation sole Upon executing and filing for record articles of incorporation as provided in this article, the person subscribing thereto and his successor in office by the name or title specified in the articles, shall thereafter be deemed a corporation sole with perpetual succession, and may acquire and possess, by gift, bequest, […]
§ 10-11905 – Execution of instruments
10-11905. Execution of instruments All deeds and other instruments in writing shall be made and signed in the name of the corporation sole in the capacity designated in the articles.