Legislative Session number- 85

Bill Name: HF1499

HF 1499

SECOND ENGROSSMENT

Uniform Prudent Management of Institutional Funds
Act adopted as approved and recommended by the National Conference of
Commissions on Uniform State Law.

Section 1: Short title, "Uniform Prudent
Management of Institutional Funds Act", provided.

Section 2: Definitions
provided.

Section 3: Standard of conduct in managing and investing
institutional fund language provided.

Section 4: Appropriation for expenditure
or accumulation of endowment fund; rules of construction language
provided.

Section 5: Delegation of management and investment functions language
provided.

Section 6: Release or modification on restrictions on management,
investment, or purpose language provided.

Section 7: Reviewing compliance
language added.

Section 8: Application to existing institutional funds language
added.

Section 9: Relation to Electronic Signatures in Global and National
Commerce Act language provided.

Section 10: Repealer provided.

SNA 3/12/08