SECTIONS 92200-92215 - California Statutes

EDUCATION CODE

SECTION 92200-92215

92200. The law college founded and established by S. C. Hastings
shall forever be known and designated as the Hastings College of the
Law.

92201. The college is affiliated with the University of California,
and is the law department thereof.

92202. The college shall afford facilities for the acquisition of
legal learning in all branches of the law. To this end it shall
establish a curriculum of studies and shall matriculate students who
reside at the University of California or elsewhere in the state.

92203. The faculty of the University of California shall grant, and
the president shall sign and issue, diplomas to the students of the
college.

92204. The business of the college, which includes the power to
incur indebtedness, shall be managed by the board of directors. Six
directors constitute a quorum for the transaction of all business.
The directors shall serve without compensation.
One of the directors shall always be an heir or representative of
S.C. Hastings. All other directors taking office after January 1,
1981, shall serve for terms of 12 years. Directors in office prior to
January 1, 1981, shall serve for the terms provided in the bylaws of
the college in effect on that date.

92205. In the investment and management of endowment funds and
properties under its jurisdiction, the Board of Directors of the
Hastings College of the Law shall comply, to the extent practicable,
with the endowment investment and management policies of the Regents
of the University of California. Any variance from the endowment
investment and management policies of the regents shall be presented
to, and reviewed by, the board, which shall adopt a resolution
specifying the reasons for the variance. In addition, the board shall
comply with all of the following requirements:
(a) The utilization of funds shall be in accordance with the terms
specified by the donor.
(b) Prior to the delegation of any authority to engage in making
investments, reallocations, or reinvestments of endowment funds on
its behalf, the board shall seek and review the written opinion of
the general counsel regarding the propriety of the proposed action
under the endowment investment and management policies of the regents
then in effect.
(c) "Endowment fund" means a fund derived from a gift, bequest, or
grant, the terms of which stipulate that the fund principal remain
inviolate and that only the income may be expended.
(d) Annual audits shall be conducted by a certified public
accountant firm in accordance with generally accepted auditing
standards established by the American Institute of Certified Public
Accountants.

92205.5. It is the intent of the Legislature that the Regents of
the University of California provide for a review of the annual
audits conducted pursuant to subdivision (d) of Section 92205 and
annually report any violations revealed by these audits to the Board
of Directors of the Hastings College of the Law, to the appropriate
fiscal and policy committees of the Legislature, and to the
Legislative Analyst.

92206. Vacancies occurring in the board of directors after January
1, 1981, other than through the death or resignation of the heir or
representative of S.C. Hastings, shall be filled by the Governor and
approved by the Senate, a majority of the membership concurring.

92207. The officers of the college are a dean, a registrar, and 11
directors. The dean and registrar shall be appointed by, and may be
removed by the board of directors.

92209. The dean of the college is ex officio a member of the
faculty of the University of California.

92210. Professorships may be established in the name of any founder
who pays to the college the sum of one hundred thousand dollars
($100,000) or such greater sum as may be determined by the directors.

92211. The sum of 7 percent per annum upon one hundred thousand
dollars ($100,000) shall be appropriated annually by the state and
shall be paid in semiannual payments to the directors of the college.

92212. If the state fails to pay to the directors of the college
the sum of seven thousand dollars ($7,000) annually, pursuant to
Section 92211, or if the college ceases to exist, the state shall pay
to the heirs or legal representatives of S. C. Hastings, the sum of
one hundred thousand dollars ($100,000), and all unexpended
accumulated interest, unless the failure is caused by mistake or
accident, or the omission of the Legislature to make the
appropriation at any one session.

92213. All courses by the college at Sacramento shall be deemed to
be given at the site of the college in San Francisco.

92214. The Director of General Services shall transfer the property
located at 55 and 75 Hyde Street in the City and County of San
Francisco to the University of California to be used for the benefit
of the Hastings College of the Law for school purposes.
The university shall have the power to sell or lease the property
to a nonprofit corporation in order to provide housing facilities for
the students, faculty, and employees of the college.
If such property is sold, it shall be sold for its fair market
value, with such valuation approved by the Department of Finance, and
the proceeds of the sale shall be deposited in the General Fund. If
such property is leased, the proceeds of the lease shall be deposited
in the General Fund.

92215. The power to incur indebtedness pursuant to Section 92204
shall include, but is not limited to, the power to issue revenue
bonds in the name of the board of directors and as obligations of the
board of directors. Revenue bonds may be issued pursuant to the
provisions of Chapter 5 (commencing with Section 92400) of Part 57
and, for such purposes, the board of directors shall have the same
powers to issue revenue bonds for the benefit of the Hastings College
of the Law as are conferred upon the Regents of the University of
California for the benefit of the University of California by Chapter
5 (commencing with Section 92400) of Part 57 and shall be subject to
the limitations imposed therein. Any such bonds issued for the
benefit of the Hastings College of the Law shall be issued in the
name of Hastings College of the Law without using the name of the
University of California.