4(1)The fund established by the foundation under subsection 8(1) of the Act shall be called “The Université de Moncton Foundation Fund”.

4(2)Subject to section 6, the fund shall be maintained on deposit in one or more accounts at financial institutions authorized to receive deposits in New Brunswick.

6(1)The foundation may invest the money constituting the fund in any kind of property, real, personal or mixed, and in doing so shall exercise the judgment and care that a person of prudence, discretion and intelligence would exercise as a trustee of the property of others.

6(2)The foundation may, pending the investment of any money constituting the fund or pending its disposition under section 9 of the Act, deposit it in an account referred to in subsection 4(2).

6(3)Property that is contributed to the foundation in a form other than money, if it does not qualify as an authorized investment under subsection (1), shall be disposed of at the earliest practicable opportunity and the proceeds invested in accordance with this section.

6(4)Notwithstanding subsection (3), property that is received by the foundation in a form other than money may, at the discretion of the foundation, be given to the Université de Moncton - Moncton, Edmundston and Shippagan in specie.