2021Bylaws

Bylaws (Colorado)

auditors and interim financial information.  (C) Perform such other duties and responsibilities as may be assigned to it by the board of directors. (ii) Its chairman shall be the Imperial Auditor and its remaining members shall be knowledgeable in financial and budgeting matters. Amend. 1989, 1999 (3) The Committee on Investments shall consist of 10 quali- fied Nobles, among whom shall be included the First Vice President, Second Vice President, Treasurer, Secretary, and at least one other to be chosen from among the directors and trustees. All of them shall be knowledgeable and experienced in investments. The term of office of all members of this committee shall be for one year. Any appointment to fill a vacancy shall be for the unexpired term. Appointments of members of this committee shall be subject to the consent of the majority of the board of directors. The duties of this committee are: (i) To consider and approve depositories for trust and endowment funds; (ii) To review and report to the boards of directors and trustees on all assets, at least once a year, including comparative invest- ment returns of the investment institutions and to report thirty days prior to the annual meeting in writng to the members of the corpo- ration on the investment returns, including comparative investment returns of the investment institutions used by the corporation, and investment returns earned by appropriate benchmarks to that of the corporationʼs endowment. Further, the current investment policy shall be published each year in the minutes of the annual proceed- ings of this corporation. (iii) To arrange for the investment of available funds, and deter- mine the investment policies to be pursued with regard to all prop- erty and assets; and (iv) To form the following subcommittees, the members to be appointed by the investment committee chairman:  (A) Manager Performance Evaluation shall consist of five members of the investment committee with our professional investment consultant to investigate and recommend entities exer- cising skill and expertise from which the investment committee shall select managers for the prudent investment of the funds of this corporation and to evaluate the returns of the investment man- agers employed by the corporation and report to the committee.  (B) Real Estate and Natural Resources shall consist of five members of the committee to monitor and evaluate all real prop- erties, mineral interests and water rights held by the corporation, Amend. 2019

BYLAWS (COLORADO)

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