85-123.01 University Trust Fund, defined; investment; deposited with State Treasurer. - Nebraska Statutes

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85-123.01. University Trust Fund, defined; investment; deposited with State Treasurer.(1) The University Trust Fund shall consist of all property, real or personal, acquired by the Board of Regents of the University of Nebraska by donation or bequest to it, including money derived as principal from the sale of land or other property so acquired or derived.(2) The University Trust Fund shall be held and managed in such manner as the Board of Regents of the University of Nebraska shall determine. Where such funds are to be invested, they shall be invested by the state investment officer for the Board of Regents in such investments as are authorized by section 72-1246, subject to the following exceptions: (a) No such investment need be made if, according to the terms of the donation or bequest, the Board of Regents is not limited to the expenditure of only the interest or income of the fund; and (b) no such investment need be made if the will, deed or instrument, making such donation or bequest, makes other provisions or directions as to investments and in such cases the state investment officer for the Board of Regents shall comply with the provisions of said will, deed or instrument. SourceLaws 1945, c. 257, § 3, p. 798; Laws 1959, c. 263, § 22, p. 950; Laws 1967, c. 622, § 1, p. 2085; Laws 1969, c. 584, § 123, p. 2425.

State Codes and Statutes

Statutes > Nebraska > Chapter85 > 85-123_01

85-123.01. University Trust Fund, defined; investment; deposited with State Treasurer.(1) The University Trust Fund shall consist of all property, real or personal, acquired by the Board of Regents of the University of Nebraska by donation or bequest to it, including money derived as principal from the sale of land or other property so acquired or derived.(2) The University Trust Fund shall be held and managed in such manner as the Board of Regents of the University of Nebraska shall determine. Where such funds are to be invested, they shall be invested by the state investment officer for the Board of Regents in such investments as are authorized by section 72-1246, subject to the following exceptions: (a) No such investment need be made if, according to the terms of the donation or bequest, the Board of Regents is not limited to the expenditure of only the interest or income of the fund; and (b) no such investment need be made if the will, deed or instrument, making such donation or bequest, makes other provisions or directions as to investments and in such cases the state investment officer for the Board of Regents shall comply with the provisions of said will, deed or instrument. SourceLaws 1945, c. 257, § 3, p. 798; Laws 1959, c. 263, § 22, p. 950; Laws 1967, c. 622, § 1, p. 2085; Laws 1969, c. 584, § 123, p. 2425.

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State Codes and Statutes

Statutes > Nebraska > Chapter85 > 85-123_01

85-123.01. University Trust Fund, defined; investment; deposited with State Treasurer.(1) The University Trust Fund shall consist of all property, real or personal, acquired by the Board of Regents of the University of Nebraska by donation or bequest to it, including money derived as principal from the sale of land or other property so acquired or derived.(2) The University Trust Fund shall be held and managed in such manner as the Board of Regents of the University of Nebraska shall determine. Where such funds are to be invested, they shall be invested by the state investment officer for the Board of Regents in such investments as are authorized by section 72-1246, subject to the following exceptions: (a) No such investment need be made if, according to the terms of the donation or bequest, the Board of Regents is not limited to the expenditure of only the interest or income of the fund; and (b) no such investment need be made if the will, deed or instrument, making such donation or bequest, makes other provisions or directions as to investments and in such cases the state investment officer for the Board of Regents shall comply with the provisions of said will, deed or instrument. SourceLaws 1945, c. 257, § 3, p. 798; Laws 1959, c. 263, § 22, p. 950; Laws 1967, c. 622, § 1, p. 2085; Laws 1969, c. 584, § 123, p. 2425.