The principal mission of the College is to study, and to educate its members with respect to, legal issues related to significant institutional investment financings (hereinafter "Investments"). Such Investments are those which usually (a) involve contracts containing material rights and remedies or other terms and conditions which require significant legal analysis and consideration of alternative provisions and alternative courses of action, (b) involve the commitment of substantial debt or equity funds, and (c) are acquired, directly or indirectly, for investment for the account of institutional investors (such as insurance companies, banks, pension funds, investment funds, and finance companies), affiliates of such investors, or persons or entities whose funds are controlled or managed by such investors.

Examples of Investments include private placements of debt and equity securities, project financings, asset-backed and other structured financings, credit lease financings and mezzanine financings. The term "Investments" does not typically include, except as an incidental or secondary aspect of the types of transactions referred to in the two preceding sentences, (1) investments in which the primary legal analysis relates to disclosure or regulatory issues arising in connection with the issuance of securities, (2) real estate equity or non-recourse mortgage financings, (3) direct (non-securitized) inventory and receivable financings and factoring, (4) conventional commercial bank loan and line of credit transactions (other than purchases of participations therein or assignments thereof), or (5) operating lease transactions.