2006 Nebraska Revised Statutes - § 58-607 — Governing board; standard of conduct.
Section 58-607Governing board; standard of conduct.
In the administration of the powers to appropriate appreciation, to make and retain investments, and to delegate investment management of institutional funds, members of a governing board shall exercise ordinary business care and prudence under the facts and circumstances prevailing at the time of the action or decision. In so doing they shall consider long-term and short-term needs of the institution in carrying out its educational, religious, charitable, or other eleemosynary purposes, its present and anticipated financial requirements, expected total return on its investments, price level trends, and general economic conditions.
Source:
- Laws 1996, LB 973, § 7
~Reissue Revised Statutes of Nebraska
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