2006 Nebraska Revised Statutes - § 58-606 — Governing board; delegation of investment management.
Section 58-606Governing board; delegation of investment management.
Except as otherwise provided by the applicable gift instrument or by applicable law relating to governmental institutions or funds, the governing board may (1) delegate to its committees, officers or employees of the institution or the fund, or agents, including investment counsel, the authority to act in place of the board in investment and reinvestment of institutional funds, (2) contract with independent investment advisors, investment counsel or managers, banks, or trust companies, to act in place of the board in investment and reinvestment of institutional funds, and (3) authorize the payment of compensation for investment advisory or management services.
Source:
- Laws 1996, LB 973, § 6
~Reissue Revised Statutes of Nebraska
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