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(1) To direct and supervise the investment of University funds by The University's fiscal agent, and the investment by The University of North Carolina of any funds not in the hands of the fiscal agent;

(2) To attempt to obtain for the use of The University of North Carolina from any and all sources all moneys and property which the laws of North Carolina define to be derelict property or escheats;

(3) To recommend to the Board of Trustees necessary and desirable legislation leading toward the discovery and collection of derelict property and escheats;

(4) To receive, review and make recommendations to the Board concerning the annual report of the Escheats Officer of The University of North Carolina.

The Finance Committee shall request from the State Auditor a copy of his annual audit of the accounts of The University of North Carolina which shall be used for the guidance of the Finance Committee.

NOTE: Items 2, 3, and 4 above describe duties assigned to the Escheats Committee. It is recommended that the Escheats Committee be discontinued and its duties assigned to the Finance Committee.

(c) BUILDING COMMITTEE

The Board shall elect for each of the institutions comprising The University of North Carolina a Building Committee consisting of 5 trustees, who shall serve for a period of four years.

After receiving the recommendations of the Chancellors and the Business Managers of the respective institutions and the President and Business Officer and Treasurer of The University of North Carolina, the duties of the several Building Committees shall, subject to all legal requirements relative to the construction of state owned buildings, be as follows:

(1) Selection of architects or engineers for buildings and improvements requiring such professional services.

(2) Approval of building sites.

(3) Approval of plans and specifications.

(4) Final acceptance of all completed buildings and projects.

(d) VISITING COMMITTEE

The Visiting Committee shall consist of twenty-one trustees who shall be elected by the Board for terms of four years as members of the Committee. At the first elections after the adoption of this Section, onethird of the members shall be elected for two year terms, one-third for four year terms, and one-third for six year terms to the end that the terms of one-third of the membership shall expire each two years. Thereafter, all terms shall be for six years unless an election shall be made to fill an unexpired term. Upon election the Committee shall select from its members a chairman to serve for a period of four years.

The Visiting Committee shall be charged with the duty of visiting either in a body or through duly appointed