274.0 VIII-5.20 - POLICY ON VOTING OF PROXIES IN INVESTMENT SECURITIES (Approved by the Board of Regents, June 21, 1990) 1. The Chancellor or designee shall ensure that proxies of all investment securities represented in the University of Maryland System investment portfolio are voted on a timely basis. Because it is assumed that a decision to invest in a particular company is based on the belief that management of that company is sound and is performing well, proxies of that company shall generally be voted in accordance with management's recommendations. 2. Notwithstanding the above, when voting proxies the Chancellor or designee shall recognize issues of corporate social responsibility which include, but are not limited to, those concerned with: a. protection of the environment; b. occupation and health standards; c. consumer protection; d. equal employment opportunity; e. human rights; and f. respect for national and international law intended to promote these concepts. 3. The Chancellor or designee shall distribute to the Finance Committee each month a report of proxies voted. The report shall describe the proposal and identify how the proposal was voted. The report shall highlight the proxies voted against management's recommendations and the proxies voted which concerned an issue of social responsibility. Replacement for: BOR V - 1.10; BOR V - 1.20.