Section 3 – Appropriation for Expenditure or Accumulation of Endowment Fund; Rules of Construction
Section 3. (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 is established. Unless stated otherwise in the gift […]
Chapter 181 – Foreign Corporations
[Repealed, 2004, 65, Sec. 26.]
Section 4 – Delegation of Management and Investment of an Institutional Fund
Section 4. (a) Subject to any specific limitation set forth in a gift instrument or in other general or special law, 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 institution shall act in good […]
Section 5 – Release or Modification of Restriction on Management, Investment, Duration or Purpose
Section 5. (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, duration or purpose of an institutional fund. A release or modification shall not allow a fund to be used for a purpose other […]
Section 6 – Reviewing Compliance
Section 6. Compliance with this chapter shall be determined in light of the facts and circumstances existing at the time a decision is made or an action is taken and not by hindsight.
Section 7 – Application of Chapter
Section 7. This chapter shall apply to institutional funds existing on or established after June 30, 2009. As applied to institutional funds existing on June 30, 2009, this chapter shall govern only decisions made or actions taken on or after that date.
Section 8 – Effect of Chapter on Electronic Signatures in Global and National Commerce Act
Section 8. This chapter modifies, limits and supersedes the electronic signatures in the Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., but does not modify, limit or supersede Section 101(c) of said act, 15 U.S.C. Section 7001(c) or authorize electronic delivery of any of the notices described in Section 103 of said […]
Section 9 – Construction and Application of Chapter
Section 9. In applying and construing this chapter, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among states that enact the Uniform Prudent Management of Institutional Funds Act. To the extent that any provision of the law, rule or regulation is in conflict with […]
Section 24 – Investigatory Powers of Department of Public Health
Section 24. The working methods of any such corporation and the dairies in which milk is produced under contract with it shall at all times be subject to investigation by the department of public health.
Section 2 – Filing of Copy of Written Instrument or Declaration of Trust; Fee; Amendments; Violations; Consolidation or Merger
Section 2. The trustees of an association or trust shall file a copy of the written instrument or declaration of trust creating it with the secretary and with the clerk of every city or town where such association or trust has a usual place of business. The fee for filing said copy with the secretary […]