Title 10 — Corporations and Associations
41 chapters · 595 sections in this title.
A.R.S. § 10-11801 Definitions
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1. "Endowment fund" means an institutional fund or part of an institutional fund that, under the terms of a gift instrument, is not wholly expendable by the institution on a current basis. Endowment fund does not include assets that an institution designates as an endowment fund …
A.R.S. § 10-11802 Managing and investing institutional funds; standard of conduct
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A. Subject to the intent of a donor expressed in a gift instrument, an institution, in managing and investing an institutional fund, shall consider the charitable purposes of the institution and the purposes of the institutional fund. B. In addition to complying with the duty of …
A.R.S. § 10-11803 Appropriation for expenditure or accumulation of endowment fund; construction
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A. Subject to the intent of a donor expressed in the gift instrument, an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution determines is prudent for the uses, benefits, purposes and duration for which the endowment fund is e…
A.R.S. § 10-11804 Delegation of management and investment functions
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A. Subject to any specific limitation set forth in a gift instrument or in law other than this chapter, an institution may delegate to an external agent the management and investment of an institutional fund to the extent that an institution could prudently delegate under the cir…
A.R.S. § 10-11805 Release or modification of restrictions on management, investment or purpose
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A. If the donor consents in a record, an institution may release or modify, in whole or in part, a restriction contained in a gift instrument on the management, investment or purpose of an institutional fund. A release or modification may not allow a fund to be used for a purpose…
A.R.S. § 10-11806 Applicability
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[Repealed or reserved.]