2020 Colorado Revised Statutes
Title 23 - Postsecondary Education
Article 41. School of Mines
Section 23-41-103.7. Corporate stock in name of nominee authorized.
(1) In order to facilitate the investment, reinvestment, sale, and disposition of corporate stocks, the board of trustees may hold certificates of stock in the name of a nominee of its selection without disclosing the fact that the certificates are held by the board of trustees or are held in a fiduciary capacity if:
The records of the board of trustees and all reports or accounts rendered by it clearlyshow the ownership of the stock by the board and the facts regarding the board's holding; and
The nominee deposits with the board of trustees a signed statement showing the trustownership, endorses the stock certificate in blank, and does not have possession of or access to the stock certificate except under the immediate supervision of the treasurer of Colorado school of mines or another person that the board of trustees has designated.
The board of trustees shall maintain a list of certificates of stock held in the names ofnominees pursuant to this section and shall make the list available for public inspection during normal business hours.
The board of trustees shall report to the joint budget committee of the general assembly at each regular session, beginning after August 7, 2013, regarding the investments made and the earnings or losses derived therefrom under the provisions of this section and section 23-41-103.6. The report must include information indicating the extent to which the investment managers hired by the board of trustees have achieved or failed to achieve the performance benchmarks established pursuant to section 23-41-103.8 (1)(b).
Source: L. 2013: Entire section added, (HB 13-1297), ch. 260, p. 1372, § 2, effective August 7.
