Colorado § 23-53-103.6 Investment policy - fiduciary responsibility

Colorado Statutes

§ 23-53-103.6 — Investment policy - fiduciary responsibility

Colorado § 23-53-103.6

Title 23Postsecondary Education

Art.Colorado Mesa University

This text of Colorado § 23-53-103.6 (Investment policy - fiduciary responsibility) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 23-53-103.6 (2026).

Text

(1)If the board of trustees votes to invest Colorado Mesa university's assets pursuant to sections 23-53-103.3 and 23-53-103.4, then the board of trustees shall develop and annually review a written investment policy for Colorado Mesa university, which policy shall include:

(a)An acknowledgment by the board of trustees of the board's fiduciary responsibility with respect to oversight of the investment policy of Colorado Mesa university; and

(b)The establishment of performance benchmarks for each investment manager hired by the board of trustees pursuant to sections 23-53-103.3 and 23-53-103.4.

(2)In selecting investment managers for the purposes of this section, the board of trustees shall use an open and competitive process.

(3)If the board of trustees votes to invest mone

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(1) If the board of
trustees votes to invest Colorado Mesa university's assets pursuant to sections 23-53-103.3 and 23-53-103.4, then the board of trustees shall develop and annually
review a written investment policy for Colorado Mesa university, which policy shall
include:

(a) An acknowledgment by the board of trustees of the board's fiduciary
responsibility with respect to oversight of the investment policy of Colorado Mesa
university; and

(b) The establishment of performance benchmarks for each investment
manager hired by the board of trustees pursuant to sections 23-53-103.3 and 23-53-103.4.

(2) In selecting investment managers for the purposes of this section, the
board of trustees shall use an open and competitive process.

(3) If the board of trustees votes to invest moneys pursuant to sections 23-53-103.3 and 23-53-103.4, the board shall require annual financial statements to be
submitted to the board of trustees, the state treasurer, the state auditor, and the
joint budget committee of the general assembly. The financial statements shall
include, at a minimum, information concerning investment income, gains, and
losses, if any, of Colorado Mesa university. The financial statements shall report the
performance of investments on both a gross-of-fee and a net-of-fee basis.

(4) If the board of trustees votes to invest moneys pursuant to sections 23-53-103.3 and 23-53-103.4, the board shall ensure that, at all times, liquid
investment assets remain at a level sufficient to pay for all budgeted, outstanding
operational obligations and expenses occurring within the current fiscal year.

(5) Colorado Mesa university shall not request from the general assembly
any general fund appropriations to replace any losses incurred due to investment
activities conducted by the board of trustees pursuant to sections 23-53-103.3 and
23-53-103.4.

Legislative History

Source: L. 2008: Entire section added, p. 342, � 3, effective April 10. L. 2011: IP(1), (1)(a), (3), and (5) amended, (SB 11-265), ch. 292, p. 1363, � 7, effective August 10.