13 §4108. Uniformity of application and construction (REPEALED)
§4108. Uniformity of application and construction (REPEALED) SECTION HISTORY PL 1993, c. 371, §2 (NEW). PL 2009, c. 450, §1 (RP). PL 2009, c. 450, §3 (AFF).
13 §4109. Application (REPEALED)
§4109. Application (REPEALED) SECTION HISTORY PL 1993, c. 371, §2 (NEW). PL 2009, c. 450, §1 (RP). PL 2009, c. 450, §3 (AFF).
13 §4110. Municipal library funds (REPEALED)
§4110. Municipal library funds (REPEALED) SECTION HISTORY PL 1999, c. 135, §1 (NEW). PL 2009, c. 450, §1 (RP). PL 2009, c. 450, §3 (AFF).
13 §5101. Short title
§5101. Short title This chapter may be known and cited as “the Uniform Prudent Management of Institutional Funds Act.” [PL 2009, c. 450, §2 (NEW); PL 2009, c. 450, §3 (AFF).] SECTION HISTORY PL 2009, c. 450, §2 (NEW). PL 2009, c. 450, §3 (AFF).
13 §5102. Definitions
§5102. Definitions As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 2009, c. 450, §2 (NEW); PL 2009, c. 450, §3 (AFF).] 1. Charitable purpose. “Charitable purpose” means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of […]
13 §5103. Standard of conduct in managing and investing institutional fund
§5103. Standard of conduct in managing and investing institutional fund 1. Consideration of purposes. 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. [PL 2009, c. 450, […]
13 §5104. Appropriation for expenditure or accumulation of endowment fund; rules of construction
§5104. Appropriation for expenditure or accumulation of endowment fund; rules of construction 1. Appropriate; accumulate; donor-restricted; good faith; care. 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, […]
13 §5105. Delegation of management and investment functions
§5105. Delegation of management and investment functions 1. Delegation. 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. […]
13 §5106. Release or modification of restrictions on management, investment or purpose
§5106. Release or modification of restrictions on management, investment or purpose 1. Release or modification of restriction with consent. 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 […]
13 §5107. Reviewing compliance
§5107. Reviewing compliance Compliance with this chapter is determined in light of the facts and circumstances existing at the time a decision is made or action is taken and not by hindsight. [PL 2009, c. 450, §2 (NEW); PL 2009, c. 450, §3 (AFF).] SECTION HISTORY PL 2009, c. 450, §2 (NEW). PL 2009, […]