§12-6-9. Fees for Service
The board may charge fees, which may be subtracted from the total return, for the reasonable and necessary expenses incurred by the investment management board in rendering services. All fees which are dedicated or identified or readily identifiable to an entity, plan or fund shall be charged to that entity, plan or fund and all […]
§12-6-9a. Trust Indenture
The provisions of the trust indenture entered into by the Governor on July 1, 1996, with the West Virginia trust fund, inc., acting as the trustee, are superseded by the following provisions: (a) The board shall continue to hold each of the participant plans specified by this article in a separate irrevocable trust as trustee […]
§12-6-9c. Authorization of Additional Investments
Notwithstanding the restrictions which may otherwise be provided by law with respect to the investment of funds, all administrators, custodians or trustees of pension funds other than the board, each political subdivision of this state and each county board of education may invest funds in the securities of or any other interest in any investment […]
§12-6-9e. Legislative Findings; Loans for Industrial Development; Availability of Funds and Interest Rates
(a) The Legislature hereby finds and declares that the citizens of the state benefit from the creation of jobs and businesses within the state; that a business and industrial development loan program provides for economic growth and stimulation within the state; that loans from pools established in the consolidated fund will assist in providing the […]
§12-6-9h. Securities Handling
In financial transactions whereby securities are purchased by the board under an agreement providing for the resale of such securities to the original seller at a stated price, the board shall take physical possession of the securities, directly, by its custodian bank or through a neutral third party: Provided, That an agreement with a neutral […]
§12-6-11. Standard of Care and Investment Requirements; Disclosure of Information
(a) Any investments made under this article shall be made in accordance with the provisions of the Uniform Prudent Investor Act codified as article six-c, chapter forty-four of this code and is further subject to the following requirements: (1) Trustees shall discharge their duties with respect to the 401(a) plans for the exclusive purpose of […]
§12-6-13. Board as Agency for Investments; Exceptions
All duties vested by law in any agency, commission, official or other board of the state relating to the investment of moneys, and the acquisition, sale, exchange or disposal of securities or any other investment are hereby transferred to the Board: Provided, That neither this section nor any other section of this article applies to […]
§12-6-4. Management and Control of Fund; Officers; Staff; Fiduciary or Surety Bonds for Trustees; Liability of Trustees
(a) The management and control of the board shall be vested solely in the trustees in accordance with the provisions of this article. (b) The Governor shall be the chairman of the board and the trustees shall elect a vice chairman who may not be a constitutional officer or his or her designee to serve […]
§12-6-5. Powers of the Board
The board may exercise all powers necessary or appropriate, in accordance with the provisions of the West Virginia Uniform Prudent Investor Act, codified as article six-c, chapter forty-four of this code and section eleven of this article, to carry out and effectuate its corporate purposes, including, but not limited to, the power to: (1) Adopt […]
§12-6-5a. Legislative Findings and Limitation on Certain Board Actions
(a) The Legislature hereby finds and declares that, during the period beginning August 1, 1984, and ending on January 31, 1989, certain overapportionments or overpayments of interest earnings were made by the board of investments to local government participants in the consolidated investment fund local government account. The Legislature also finds and declares that said […]