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Home » US Law » 2022 Code of Alabama » Title 19 - Fiduciaries and Trusts. » Chapter 3C - Alabama Uniform Prudent Management of Industrial Funds Act.

Section 19-3C-1 – Short Title.

Section 19-3C-1 Short title. This chapter may be cited as the Alabama Uniform Prudent Management of Institutional Funds Act. (Act 2008-276, p. 434, §2.)

Section 19-3C-10 – Uniformity of Application and Construction.

Section 19-3C-10 Uniformity of application and construction. In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. (Act 2008-276, p. 434, §2.)

Section 19-3C-2 – Definitions.

Section 19-3C-2 Definitions. In this chapter: (1) CHARITABLE PURPOSE means the relief of poverty, the advancement of education or religion, the promotion of health, governmental or municipal purposes, or other purposes the achievement of which is beneficial to the community. (2) ENDOWMENT FUND means an institutional fund or part thereof that, under the terms of […]

Section 19-3C-3 – Standard of Conduct in Managing and Investing Institutional Funds.

Section 19-3C-3 Standard of conduct in managing and investing institutional funds. (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 […]

Section 19-3C-5 – Delegation of Management and Investment Functions.

Section 19-3C-5 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. […]

Section 19-3C-7 – Reviewing Compliance.

Section 19-3C-7 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. (Act 2008-276, p. 434, §2.)

Section 19-3C-8 – Application to Existing Institutional Funds.

Section 19-3C-8 Application to existing institutional funds. This chapter applies to institutional funds existing on or established after January 1, 2009. As applied to institutional funds existing on January 1, 2009, this chapter governs only decisions made or actions taken on or after that date. (Act 2008-276, p. 434, §2.)

Section 19-3C-9 – Relation to Electronic Signatures in Global and National Commerce Act.

Section 19-3C-9 Relation to Electronic Signatures in Global and National Commerce Act. This chapter modifies, limits, and supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., but does not modify, limit, or supersede Section 101 of that act, 15 U.S.C. Section 7001(a), or authorize electronic delivery of any […]