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- Alaska Statutes.
- Title 14. Education, Libraries, and Museums
- Chapter 40. The University of Alaska and the Community Colleges
- Section 280. Endowments and Donations.
previous:
Section 270. [Renumbered as AS
14.40.057]
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Section 282. Endowment For the Physical Sciences.
AS 14.40.280. Endowments and Donations.
(a) Title to and control or possession of land, personal property, money, and other property that is devised, bequeathed,
or given to the university shall be taken by the university in its corporate capacity acting by and through the Board
of Regents or an authorized agent and shall be entered in the perpetual inventory of the university established in AS
14.40.330.
(b) All monetary gifts, bequests, or endowments that are made to the University of Alaska for the purpose of the separate
endowment trust fund established under AS 14.40.400
shall be deposited into that endowment trust fund.
(c) Except as provided by (b) of this section, the monetary gifts, bequests, or endowments that are made to the University
of Alaska shall be managed and invested by the Board of Regents. In carrying out its management and investment
responsibilities under this subsection, the Board of Regents has the same powers and duties with respect to the gifts, bequests, and
endowments of the University of Alaska as are provided or required under AS 37.10.071 and AS 13.65 (Uniform Prudent Management of Institutional Funds Act). Notwithstanding any
other provision of law, AS 37.10.071 governs the management and investment responsibilities established
under this subsection if
(1) both AS 37.10.071 and AS 13.65 apply to the management and investment responsibilities established under this
subsection; and
(2) AS 37.10.071 conflicts with AS 13.65.
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