 
                      CHAPTER 8--HOWARD UNIVERSITY
 
                        SUBCHAPTER II--ENDOWMENT
 
Sec. 130aa-2. Investments

    (a) The University shall invest its endowment fund corpus and 
endowment fund income in those low-risk instruments and securities in 
which a regulated insurance company may invest under the law of the 
District of Columbia, such as federally insured bank savings account or 
comparable interest bearing account, certificate of deposit, money 
market fund, mutual fund, or obligations of the United States.
    (b) The University, in investing its endowment fund corpus and 
income, shall exercise the judgment and care, under circumstances then 
prevailing, which a person of prudence, discretion, and intelligence 
would exercise in the management of his own business affairs.

(Pub. L. 98-480, title II, Sec. 204, Oct. 17, 1984, 98 Stat. 2246.)

                  Section Referred to in Other Sections

    This section is referred to in section 130aa-4 of this title.
