2009 STATE OF WYOMING 09LSO0300E1 5 HB0118177303 Standard of conduct in managing and a Subject to the intent of a donor expressed in a b In addition to complying with the duty of loyalty ID: 344071
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2009 STATE OF WYOMING 09LSO-0300.E1 3 HB0118(iii) "Gift instrument" means a record or (A) A person, other than an individual, (B) A government or governmental (C) A trust that had both charitable and (v) "Institutional fund" means a fund held by an institution exclusively for charitable purposes. The term 2009 STATE OF WYOMING 09LSO-0300.E1 5 HB011817-7-303. Standard of conduct in managing and (a) Subject to the intent of a donor expressed in a (b) In addition to complying with the duty of loyalty (c) In managing and investing an institutional fund, (i) May incur only costs that are appropriate 2009 STATE OF WYOMING 09LSO-0300.E1 7 HB0118(D) The role that each investment or course (E) The expected total return from income (G) The needs of the institution and the (H) An asset's special relationship or (ii) Management and investment decisions about of investments as a whole and as a part of an overall 2009 STATE OF WYOMING 09LSO-0300.E1 9 HB011817-7-304. Appropriation for expenditure or (a) Subject to subsection (d) of this section and to for which the endowment fund is established. Unless stated appropriated for expenditure by the institution. In making (i) The duration and preservation of the 2009 STATE OF WYOMING 09LSO-0300.E1 11 HB0118(i) Create an endowment fund of permanent (ii) Do not otherwise limit the authority to (d) The appropriation for expenditure in any year of preceding the year in wimprudence. For an endowment fund in existence for fewer endowment fund has been in existence. This subsection 2009 STATE OF WYOMING 09LSO-0300.E1 13 HB0118(ii) Establishing the scope and terms of the (iii) Periodically reviewing the agent's actions (b) In performing a delegated function, an agent owes (c) An institution that complies with subsection (a) (d) By accepting delegation of a management or 2009 STATE OF WYOMING 09LSO-0300.E1 15 HB0118opportunity to be heard. To the extent practicable, any (c) If a particular charitable purpose or a the gift instrument. If the institution is a governmental (d) If an institution determines that a restriction contained in a gift instrument on the management, 2009 STATE OF WYOMING 09LSO-0300.E1 17 HB0118This act shall apply to any institutional this act. As applied to institutional funds existing on Section 4. TATE OF 1 HB0118Sponsored by: Representative(s) Pedersen, Bonner, Cohee, the management and investment of specified; providing conditions; providing for management repealing conflicting law; and providing for an effective Section 1.