ASSOCIATED STUDENTS v. OR. INVESTMENT COUNCIL

78-7502; CA A34872.

728 P.2d 30 (1986)

82 Or.App. 145

ASSOCIATED STUDENTS of the University of Oregon, Associated Students of Portland State University, Black Student Union of the University of Oregon, Stephen S. Bruce, Graduate Teaching Fellows Federation, Michael G. Huelshoff, Karen McWilliams, Deborah E. Medalia, Minority Law Students Association of the University of Oregon, University of Oregon Chapter of the National Lawyers Guild, University of Oregon Federation of Teachers and the University of Oregon Veterans Association, Appellants-Cross-Respondents, v. OREGON INVESTMENT COUNCIL, Consisting of the State Treasurer, Carol Hewitt, Roger S. Meier, Charles Swindells and Steven Telfer, Respondent-Cross-Appellant, Oregon State Board of Higher Education, Defendant-Cross-Appellant.

Court of Appeals of Oregon.

Decided November 12, 1986.

Reconsideration Denied January 16, 1987.


Attorney(s) appearing for the Case

James M. Campbell, Eugene, argued the cause and filed the briefs for appellants-cross-respondents.

Richard D. Wasserman, Asst. Atty. Gen., Salem, argued the cause for respondent-cross-appellant and defendant-cross-appellant. With him on the briefs were Dave Frohnmayer, Atty. Gen., and James E. Mountain, Jr., Sol. Gen., Salem.

Before BUTTLER, P.J., and WARREN and ROSSMAN, JJ.


BUTTLER, Presiding Judge.

Plaintiffs seek a judicial declaration that the Oregon Investment Council (OIC) may not invest Oregon Higher Education endowment funds in the common stock of corporations doing business in South Africa, Zimbabwe and Namibia, contrary to a State Board of Higher Education (Board) resolution "instructing" divestment of those stocks, and declaring that compliance with the resolution does not violate the prudent investor rule. ORS 128.057. Defendants...

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