§ 300.13. Standard of conduct in managing and investing institutional fund
Oklahoma Statutes AnnotatedTitle 60. Property
60 Okl.St.Ann. § 300.13
§ 300.13. Standard of conduct in managing and investing institutional fund
STANDARD OF CONDUCT IN MANAGING AND INVESTING INSTITUTIONAL FUND.
(b) In addition to complying with the duty of loyalty imposed by law other than the Uniform Prudent Management of Institutional Funds Act, each person responsible for managing and investing an institutional fund shall manage and invest the fund in good faith and with the care an ordinarily prudent person in a like position would exercise under similar circumstances.
(2) Management and investment decisions about an individual asset must be made not in isolation but rather in the context of the institutional fund's portfolio of investments as a whole and as a part of an overall investment strategy having risk and return objectives reasonably suited to the fund and to the institution.
(5) Within a reasonable time after receiving property, an institution shall make and carry out decisions concerning the retention or disposition of the property or to rebalance a portfolio, in order to bring the institutional fund into compliance with the purposes, terms, and distribution requirements of the institution as necessary to meet other circumstances of the institution and the requirements of the Uniform Prudent Management of Institutional Funds Act.
Credits
Laws 2007, c. 91, § 3, eff. Nov. 1, 2007.
60 Okl. St. Ann. § 300.13, OK ST T. 60 § 300.13
Current with emergency effective legislation through Chapter 125 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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