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24 chapters · 377 sections in this title.
13 M.R.S. § 5101 Short title
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This chapter may be known and cited as "the Uniform Prudent Management of Institutional Funds Act."
13 M.R.S. § 5102 Definitions
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As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 2009, c. 450, §2 (NEW); PL 2009, c. 450, §3 (AFF).] 1. Charitable purpose. "Charitable purpose" means the relief of poverty, the advancement of education or relig…
13 M.R.S. § 5103 Standard of conduct in managing and investing institutional fund
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1. Consideration of purposes. 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. 2. Loyalty; good f…
13 M.R.S. § 5104 Appropriation for expenditure or accumulation of endowment fund; rules of construction
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1. Appropriate; accumulate; donor-restricted; good faith; care. 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, bene…