Historic Dollar Value Law and Legal Definition

Pursuant to the Uniform Management of Institutional Funds Act, "historic dollar value" means the aggregate fair value in dollars of an endowment fund at the time it became an endowment fund. It also includes each subsequent donation to the fund at the time it is made. Moreover, each accumulation made pursuant to a direction in the applicable gift instrument at the time the accumulation is added to the fund, is also included. However, the determination of historic dollar value made in good faith by the institution is conclusive.