Res 2014-097/Agreement with Texas CLASS to serve as an investment pool provider

Home Browse Search

permanent disposition of funds, considering the probable income as well as the probable safety of capital 3.4 Le ag 1 Title. Title to all of the Trust Property shall be vested in the Trust on behalf of the Participants who shall be the beneficial owners. The Trust shall have full and complete power to cause legal title to any Trust property to be held, on behalf of the Participants, by or in the name of the Trust, or in the name of any other person as nominee, on such terms, in such manner, and with such powers as the Board may determine, so long as in its judgment the interest of the Trust is adequately protected. 3.5 Power to Contract Appoint, Retain and Employ. (a) The Board is responsible for the investments of the Trust consistent with the investment policy established in this Trust Agreement and for the general administration of the business and affairs of the Trust conducted by officers, agents, employees, administrators, investment advisors, distributors or independent contractors of the Trust. However, members of the Board are not required to devote their entire time to the business and affairs of the Trust or to personally conduct the routine business of the Trust. Consistent with their responsibilities, the Board may appoint, employ, retain or contract on behalf of the Trust with any persons the Board may deem necessary or desirable for the transaction of the affairs of the Trust, and the expenses relating to such persons shall be Investment Property Liabilities. The Board may appoint, employ, retain or contract on behalf of the Trust with such persons for the purpose of : (i) Serving as Investment Advisor to the Trust; (ii) Serving as Program Administrator of the Trust; (iii) Serving as Custodian for the Trust; (iv) Furnishing reports to the Trust and provide research, economic, and statistical data in connection with the Trust's investments; (v) Acting as consultants, accountants, technical advisors, attorneys, brokers, underwriters, corporate fiduciaries, escrow agents, depositories, custodians, agents for collection, insurers or insurance agents, or in any other capacity deemed by the Board to be necessary or desirable; (vi) Acting as attorney -in -fact or agent in the purchase or sale or other disposition of investments, and in the handling, prosecuting, or other enforcement of any lien or security securing investment; or (vii) Assisting in the performance of such other functions necessary in the management of the Trust. (b) The same person may serve simultaneously as the Program Administrator and as the Investment Advisor, but no person serving as the Program Administrator or the Investment Advisor may serve as the Custodian. 0 #4350219.1