(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 Alaska Stat. § 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 Alaska Stat. § 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 Alaska Stat. § 37.10.071 and Alaska Stat. Chapter 13.65 (Uniform Prudent Management of Institutional Funds Act). Notwithstanding any other provision of law, Alaska Stat. § 37.10.071 governs the management and investment responsibilities established under this subsection if
(1) both Alaska Stat. § 37.10.071 and Alaska Stat. Chapter 13.65 apply to the management and investment responsibilities established under this subsection; and(2)Alaska Stat. § 37.10.071 conflicts with Alaska Stat. Chapter 13.65.
