Section 24April 29, 2008, Sec./Art. 24

Managenzent of Funds. - (a) There shall be an independent trust committee to be composed of the President of the University, as Chairperson, one (1) representative each nominated by the Bankers Association of the Philippines (BAP), the Investment Houses Association of the Philippines (IHAP), the Trust Officers Association of the Philippines (TOAP) and the Financial Executive Institute of the Philippines (FINEX).

The members shall be entitled to a reasonable per diem as the Board may specify. (b) The independent trust committee shall recommend to the Board five (5) universal banks selected on a prudent basis which trust departments shall manage the corporate and other funds through trust agreements of the national university on a non- directed basis: Provided, That any such agreement shall be for a period of not more than two (2) years. (c) The independent trust committee shall provide the Board with direction on appropriate investment objectives and permissible investments with the view to preserving the value of the funds while allowing the University to earn a reasonable return thereon.