Colorado § 23-30-122 Corporate stock in nominee authorized - report

Colorado Statutes

§ 23-30-122 — Corporate stock in nominee authorized - report

Colorado·Title 23 Postsecondary Education·Art. Board of Governors of the

(1)In order to facilitate the investment, reinvestment, sale, and disposition of corporate stocks, the board of governors of the Colorado state university system, referred to in this section as the board, is authorized to hold certificates of stock in the name of a nominee of its selection without disclosing the fact that the certificates are held by the board or are held in a fiduciary capacity if:

(a)The records of the board and all reports or accounts rendered by it clearly show the ownership of the stock by the board and the facts regarding the board's holdings; and

(b)The nominee deposits with the board a signed statement showing the trust ownership, endorses the stock certificate in blank, and does not have possession of or access to the stock certificate except under t

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(1) In order to
facilitate the investment, reinvestment, sale, and disposition of corporate stocks,
the board of governors of the Colorado state university system, referred to in this
section as the board, is authorized to hold certificates of stock in the name of a
nominee of its selection without disclosing the fact that the certificates are held by
the board or are held in a fiduciary capacity if:

(a) The records of the board and all reports or accounts rendered by it
clearly show the ownership of the stock by the board and the facts regarding the
board's holdings; and

(b) The nominee deposits with the board a signed statement showing the
trust ownership, endorses the stock certificate in blank, and does not have
possession of or access to the stock certificate except under the immediate
supervision of the treasurer of the Colorado state university system or another
person that the board has designated.

(2) The board shall maintain a list of certificates of stock held in the names
of nominees pursuant to this section and shall make the list available for public
inspection during normal business hours.

(3) Notwithstanding section 24-1-136 (11)(a)(I), the board shall report to the
joint budget committee of the general assembly at each regular session regarding
the investments made and the earnings or losses derived therefrom under the
provisions of this section and section 23-30-121. The report shall include
information indicating the extent to which the investment managers hired by the
board have achieved or failed to achieve the performance benchmarks established
pursuant to section 23-30-123 (1)(b).

Colorado § 23-30-122 (Corporate stock in nominee authorized - report) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 2008: Entire section added, p. 343, � 6, effective April 10. L. 2017: (3) amended, (HB 17-1251), ch. 253, p. 1060, � 12, effective August 9.