§ 130aa-2. — Investments.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 20USC130aa-2]
TITLE 20--EDUCATION
CHAPTER 8--HOWARD UNIVERSITY
SUBCHAPTER II--ENDOWMENT
Sec. 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, Sec. 204, Oct. 17, 1984, 98 Stat. 2246.)
Section Referred to in Other Sections
This section is referred to in section 130aa-4 of this title.
