2006 Utah Code - 13-29-5 — Investment authority.

     13-29-5.   Investment authority.
     In addition to an investment otherwise authorized by law or by the applicable gift instrument, and without restriction to investments a fiduciary may make, the governing board, subject to any specific limitations set forth in the applicable gift instrument or in this chapter, may:
     (1) invest and reinvest an institutional fund in any real or personal property considered advisable by the governing board, whether or not it produces a current return, including mortgages, stocks, bonds, debentures, and other securities of profit or nonprofit corporations, shares in or obligations of associations, partnerships, or individuals, and obligations of any state government or political subdivision;
     (2) retain property contributed by a donor to an institutional fund for as long as the governing board considers advisable;
     (3) include all or any part of an institutional fund in any pooled or common fund maintained by the institution; and
     (4) invest all or any part of an institutional fund in any other pooled or common fund available for investment, including shares or interests in regulated investment companies, mutual funds, common trust funds, investment partnerships, real estate investment trusts, or similar organizations in which funds are commingled and investment determinations are made by persons other than the governing board.

Amended by Chapter 178, 2005 General Session