LAW
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Ohio Laws and Rules
Except as otherwise provided by the applicable gift instrument or by applicable law relating to governmental institutions or funds, the governing board of an institution may do all of the following:
(A) Delegate to committees, officers, or employees of the institution or of an institutional fund, or agents, including investment counsel, the authority to act in place of the board in investment and reinvestment of institutional funds;
(B) Contract with independent investment advisors, investment counsel or managers, banks, or trust companies, to act in the manner described in division (A) of this section;
(C) Authorize the payment of compensation for investment advisory or management services.
Effective Date: 10-01-1996