20 U.S.C. § 130aa-2

U.S.C. Title 20 - EDUCATION
20 U.S.C.

United States Code, 2024 Edition

Title 20 - EDUCATION

CHAPTER 8 - HOWARD UNIVERSITY

SUBCHAPTER II - ENDOWMENT

Sec. 130aa-2 - Investments

From the U.S. Government Publishing Office, www.gpo.gov

§130aa–2. Investments

(a) The University shall invest its endowment fund corpus and endowment fund income in those low-risk instruments and securities in which a regulated insurance company may invest under the law of the District of Columbia, such as federally insured bank savings account or comparable interest bearing account, certificate of deposit, money market fund, mutual fund, or obligations of the United States.

(b) The University, in investing its endowment fund corpus and income, shall exercise the judgment and care, under circumstances then prevailing, which a person of prudence, discretion, and intelligence would exercise in the management of his own business affairs.

(Pub. L. 98–480, title II, §204, Oct. 17, 1984, 98 Stat. 2246.)

Official source