Kansas Statutes 76-718a. Investment of moneys in certain funds by investing agents for certain state educational institutions
Terms Used In Kansas Statutes 76-718a
- Endowment association: means :
(1) For the Fort Hays state university, the Fort Hays state university foundation;
(2) for the Kansas state university of agriculture and applied science, the Kansas state university veterinary medical center, and the Kansas state university polytechnic campus, the Kansas state university foundation;
(3) for the Emporia state university, the Emporia state university foundation;
(4) for the Pittsburg state university, the Pittsburg state university foundation;
(5) for the university of Kansas and the university of Kansas medical center, the Kansas university endowment association; and
(6) for the Wichita state university, the Wichita state university board of trustees and the Wichita state university foundation. See Kansas Statutes 76-756
- State: means the state of Kansas. See Kansas Statutes 76-779
The Kansas university endowment association is hereby authorized to act as the investing agent for the permanent university fund referred to in Kan. Stat. Ann. § 76-308, and the amendments thereto. The Kansas state university foundation is hereby authorized to act as the investing agent for the state agricultural university fund referred to in Kan. Stat. Ann. § 76-410a, and amendments thereto. The Emporia state university foundation, inc., is hereby authorized to act as the investing agent for the state normal school fund referred to in Kan. Stat. Ann. § 76-604, and amendments thereto.
Such investing agents shall invest and reinvest moneys in such funds in:
(a) Time deposit, open accounts for periods of not less than 30 days, or certificates of deposit for periods of not less than 90 days, in commercial banks located in Kansas or offered by financial institutions to the extent of insurance provided by the FDIC or NCUSIF;
(b) United States treasury bills or notes with maturities as the investing agent shall determine; or
(c) the permanent endowment fund of the endowment association or foundation.