POLICY STIPULATIONS AND SUPPORTING DOCUMENTS OF THE MICHIGAN STATE UNIVERSITY BOARD OF TRUSTEES

POLICY STIPULATIONS AND SUPPORTING DOCUMENTS OF THE MICHIGAN STATE UNIVERSITY BOARD OF TRUSTEES

STIPULATIONS FOR THE SELECTION AND PARTICIPATION OF OUTSIDE MEMBERS OF THE INVESTMENT ADVISORY SUBCOMMITTEE: Policy 01-01-09

The Investment Advisory Subcommittee is a subcommittee of the Finance Committee. Its role is to aid the Finance Committee in the review and evaluation of investment opportunities and strategies.

The Investment Advisory Subcommittee includes select individuals who are not members of the Board of Trustees. The following stipulations apply to the participation of those outside members.

  1. The Investment Advisory Subcommittee will have three outside members.
  2. Each time the Investment Advisory Subcommittee has a vacancy for an outside member, the MSU Foundation Board will nominate at least two individuals to fill that vacancy. The Board of Trustees, in consultation with the President and the Vice President for Finance and Operations, will select the new outside member from those nominees.
  3. Outside members will serve staggered three--year terms and may be reappointed once.
  4. Key qualifications for outside members include high ethical standards, wide-ranging institutional investment experience, ability to constructively debate issues, skill at asking pertinent questions to independently challenge investment opportunities, and established and beneficial affiliation with MSU.
  5. Outside members will be required to comply with Board-approved conflict of interest standards for external members.
  6. Outside members are expected to regularly attend Investment Advisory Subcommittee meetings in person or, when necessary, electronically.

Enacted 10/21/11