North Carolina Statutes

Chapter 36B Uniform Management of Institutional Funds Act

  • § 36B-1   Definitions
    As used in this Chapter, the following terms have the meanings specified: (1) "Institution" means an incorporated or unincorporated organization organized and operated exclusively for...
  • § 36B-2   Appropriation of appreciation
    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,...
  • § 36B-3   Rule of construction
    G.S. 36B‑2 does not apply if the applicable gift instrument indicates the donor's intention that net appreciation shall not be expended. A restriction upon the...
  • § 36B-4   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...
  • § 36B-5   Delegation of investment management
    Except as otherwise provided by the applicable gift instrument or by applicable law relating to governmental institutions or funds, the governing board may: (1) Delegate...
  • § 36B-6   Standard of conduct
    In the administration of the powers to appropriate net appreciation, to make and retain investments, and to delegate investment management of institutional funds, members of...
  • § 36B-7   Release of restrictions on use or investment
    (a) With the written consent of the donor, the governing board may release, in whole or in part, a restriction imposed by the applicable gift...
  • § 36B-8   Conflict with other law
    To the extent that the provisions of this Chapter are inconsistent with the provisions of either Chapter 36C or Chapter 55A, the provisions of this...
  • § 36B-9   Uniformity of application and construction
    This Chapter shall be so applied and construed as to effectuate its general purpose to make uniform the law with respect to the subject of...
  • § 36B-10   Short title
    This Chapter may be cited as the "Uniform Management of Institutional Funds Act." (1985, c. 98, s. 1.)