The Treasurer or a designee appointed by the Treasurer of the University are, fully authorized and empowered to transfer, convert, endorse, sell, assign, set over and deliver any and all shares of stock, bonds, debentures, notes, subscription warrants, stock purchase warrants, evidences of indebtedness, or other securities now or hereafter standing in the name of or owned by the University, and to make, execute and deliver, under the seal of the University or otherwise, any and all written instruments of assignment and transfer necessary or proper to effectuate the authority hereby conferred.

Whenever there shall be annexed to any instrument of assignment and transfer, executed pursuant to and in accordance with the foregoing policy, a certificate of the Secretary of the Board of Control in office at the date of such certificate which sets forth this policy and states that it is in full force and effect, and also sets forth the names of the persons who are then officers of the University then all persons to whom such instrument with the annexed certificate shall thereafter come, shall be entitled, without further inquiry or investigation and regardless of the date of such certificate, to assume and to act in reliance upon the assumption that the shares of stock or other securities named in such instrument were theretofore duly and properly transferred, endorsed, sold, assigned, set over and delivered by this University, and that with respect to such securities the authority of this policy and of such officers is still in full force and effect.