2005 Connecticut Code - Sec. 45a-528. (Formerly Sec. 45-100j). Expenditure of net appreciation, standards.
Sec. 45a-528. (Formerly Sec. 45-100j). Expenditure of net appreciation, standards. The governing board may appropriate for expenditure for the uses and purposes
for which an endowment fund is established so much of the net appreciation, realized
and unrealized, in the fair value of the assets of an endowment fund over the historic
dollar value of the fund as is prudent under the standard established by section 45a-532.
This section does not limit the authority of the governing board to expend funds as
permitted under other law, the terms of the applicable gift instrument or the charter of
the institution.
History: Sec. 45-100j transferred to Sec. 45a-528 in 1991.
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