™Your Policy Risk Impact Agent
7 chapters · 37 sections in this title.
N.J.S.A. 15:18-25 Short title.
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15:18-25 Short title. 1. This act shall be known and may be cited as the "Uniform Prudent Management of Institutional Funds Act." L.2009, c.64, s.1.
N.J.S.A. 15:18-26 Definitions relative to funds held by charitable institutions.
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15:18-26 Definitions relative to funds held by charitable institutions. 2. As used in this act: "Charitable purpose" means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose, or any other purpose, the …
N.J.S.A. 15:18-27 Consideration of purpose of charitable institution, fund.
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15:18-27 Consideration of purpose of charitable institution, fund. 3. 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…
N.J.S.A. 15:18-28 Accumulation of expenditures from endowment fund.
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15:18-28 Accumulation of expenditures from endowment fund. 4. a. Subject to the intent of a donor expressed in the applicable gift instrument, an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution determines is prudent for th…
