Sec. 4-705. Use of Money Market Mutual Funds.
In addition to use of primary banks as indicated above, a money market mutual fund selected by the President or his/her designee may be used when conditions make this advantageous in the judgment of the President or his/her designee. A money market mutual fund shall not be used by the University unless the fund has total assets at the time an account is established of not less than $50 million. Money market mutual funds and other bank products used as short term investments have additional requirements as referenced in Board Investment Policy Subpart 4-8.
Cross Reference:
Business Policy Letter, BPL 2003:02, Cash Management Policy
Board Investment Policy Subpart 4-8
Prior Board Action:
October 9, 1998.
November 19, 1999.
February 17, 2001.
Entire Subpart 4-7 included in October 19, 2001 Codification, Phase I.
Entire Subpart 4-7 included in October 22, 2004 Codification, Phase II.
November 10, 2006.
