BILL REQ. #: S-4066.1
| State of Washington | 62nd Legislature | 2012 Regular Session |
Read first time 01/25/12. Referred to Committee on Higher Education & Workforce Development.
AN ACT Relating to policies governing investments by state research universities; and adding a new section to chapter 28B.10 RCW.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1 A new section is added to chapter 28B.10 RCW
to read as follows:
The regents of each state research university must adopt policies
that govern investments of university funds. The policies must be
consistent with the uniform prudent management of institutional funds
act, chapter 24.55 RCW, and must address investment objectives, asset
allocation, investment parameters and guidelines, and the delegation of
authority over investments. The policies must be available to the
public. The regents of each state research university must provide for
the preparation, at least annually, of a publicly available investment
performance report that describes asset allocations and performance of
investments.