SB279,2,154
36.29
(1) All gifts, grants and bequests for the benefit or advantage of the
5system or any of its institutions, departments or facilities or to provide any means
6of instruction, illustration or knowledge in connection therewith, whether made to
7trustees or otherwise, shall be valid notwithstanding any other provision of this
8chapter except as otherwise provided in this subsection and shall be executed and
9enforced according to the provisions of the instrument making the same, including
10all provisions and directions in any such instrument for accumulation of the income
11of any fund or rents and profits of any real estate without being subject to the
1limitations and restrictions provided by law in other cases; but no such income
2accumulation shall be allowed to produce a fund more than 20 times as great as that
3originally given. When such gifts, grants or bequests include common stocks or other
4investments which are not authorized by ch. 881, the board may continue to hold
5such common stocks or other investments and exchange, invest or reinvest the funds
6of such gift, grant or bequest in similar types of investments without being subject
7to the limitations and restrictions provided by law in other cases. No such
8investment shall knowingly be made in any company, corporation, subsidiary or
9affiliate which practices or condones through its actions discrimination on the basis
10of race, religion, color, creed or sex. Except as otherwise provided in this section, the
11board may invest not to exceed
75% 85% of trust funds held and administered by the
12board in common stocks, the limitation of 50% in s. 881.01 (2) to the contrary
13notwithstanding. This subsection does not apply to a gift, grant or bequest that the
14board declines to accept or that the board is not authorized to accept under this
15section.