§ 36E-1 – Short title.
36E-1. Short title. This Chapter may be cited as the Uniform Prudent Management of Institutional Funds Act. (1985, c. 98, s. 1; 2009-8, s. 2.)
§ 36E-10 – Conflict with other law; exemptions.
36E-10. Conflict with other law; exemptions. (a) To the extent that the provisions of this Chapter are inconsistent with the provisions of Chapter 36C, Chapter 36D, Chapter 37A, or Chapter 55A of the General Statutes, the provisions of this Chapter shall control. (b) The provisions of this Chapter do not apply to funds, other than […]
§ 36E-11 – Uniformity of application and construction.
36E-11. Uniformity of application and construction. In applying and construing this Chapter, consideration may be given to promoting uniformity of interpretation with respect to its subject matter among the states that enact it. (1985, c. 98, s. 1; 2009-8, s. 2.)
§ 36E-2 – Definitions.
36E-2. Definitions. The following definitions apply in this Chapter: (1) Charitable purpose. – The relief of poverty, the advancement of education or religion, the promotion of health, scientific, benevolent, literary, governmental, or municipal purposes, or any other purpose the achievement of which is beneficial to the community. (2) Endowment fund. – An institutional fund or […]
§ 36E-3 – Standard of conduct in managing and investing institutional fund.
36E-3. Standard of conduct in managing and investing institutional fund. (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 […]
§ 36E-4 – Appropriation for expenditure or accumulation of endowment fund; rules of construction.
36E-4. Appropriation for expenditure or accumulation of endowment fund; rules of 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 […]
§ 36E-5 – Delegation of management and investment functions.
36E-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. An […]
§ 36E-6 – Release or modification of restrictions on management, investment, or purpose.
36E-6. 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 […]
§ 36E-7 – Reviewing compliance.
36E-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. (2009-8, s. 2.)
§ 36E-8 – Application to existing institutional funds.
36E-8. Application to existing institutional funds. This Chapter applies to institutional funds existing on or established after March 19, 2009. As applied to institutional funds existing on March 19, 2009, this Chapter governs only decisions made or actions taken on or after that date. (2009-8, s. 2.)
§ 36E-9 – Relation to Electronic Signatures in Global and National Commerce Act.
36E-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. 7001, et seq., but does not modify, limit, or supersede section 101 of that act, 15 U.S.C. 7001(c), or authorize electronic delivery of any of the notices […]