§12-6C-19. Creation of Fee Account and Investment Account; Budget
(a) The Board may charge fees, which are subtracted from the total return on investments, for the reasonable and necessary expenses incurred by the Board in rendering services. All fees collected shall be deposited in a special account in the State Treasury created and designated the Board of Treasury Investments Fee Fund. Expenditures from the […]
§12-6C-6. Consolidated Fund Continued; Management
(a) The consolidated fund is continued and notwithstanding any provision of this code to the contrary, is vested in the West Virginia Board of Treasury Investments on July 1, 2005. (b) Each spending unit authorized to invest moneys shall unless prohibited by law, request the State Treasurer to invest its moneys. Based upon spending unit […]
§12-6C-7. Management and Control of Fund; Officers; Staff; Fiduciary or Surety Bonds for Directors; Liability of Directors
(a) The management and control of the Consolidated Fund is vested solely in the Board in accordance with the provisions of this article. (b) The State Treasurer is the chairperson of the Board. The Board shall elect a vice chairperson. Annually, the directors shall elect a secretary to keep a record of the proceedings of […]
§12-6C-8. Administration of Consolidated Fund
(a) In the administration of the Consolidated Fund continued by this article, the board may: (1) Purchase, retain, hold, transfer and exchange and sell, at public or private sale, the whole or any part of the fund or pools upon any terms and conditions it considers advisable;
§12-6C-9. Asset Allocation; Investment Policies, Authorized Investments; Restrictions
(a) The board shall develop, adopt, review, or modify an asset allocation plan for the Consolidated Fund at each annual board meeting. (b) The board shall adopt, review, modify, or cancel the investment policy of each fund or pool created at each annual board meeting. For each participant directed account authorized by the State Treasurer, […]
§12-6C-10. Investment Authority for Consolidated Fund Transferred to Board; Exceptions
Effective July 1, 2005, all duties vested by law in state spending units and the West Virginia Investment Management Board relating to the Consolidated Fund are transferred to the Board, including without limitation the investment of moneys, and the acquisition, sale, exchange or disposal of securities or any other investment: Provided, That neither this section […]
§12-6C-11. Legislative Findings; Loans for Industrial Development; Availability of Funds and Interest Rates
(a) Subject to a liquidity determination, the West Virginia Board of Treasury Investments shall make a revolving loan available to the West Virginia Economic Development Authority in an amount of up to $200 million. The revolving loan shall be used for business or industrial development projects authorized by 31-15-7 of this code and to consolidate […]
§12-6C-2. Legislative Findings
(a) The Legislature finds and declares that the Consolidated Fund should benefit from financial professionals dedicated to and focused on the sound administration, investment and management of the Fund. (b) The Legislature finds and declares that the State Treasurer currently enters into agreements on behalf of the West Virginia Investment Management Board with political subdivisions […]
§12-6C-3. Definitions
As used in this article, unless a different meaning clearly appears from the context: (1) "Board" means the governing body for the West Virginia Board of Treasury Investments. References in this code to the entity investing the moneys of the Consolidated Fund, to the West Virginia Board of Investments, to the West Virginia Trust Fund […]
§12-6C-4. West Virginia Board of Treasury Investments Created; Body Corporate; Board; Directors; Nomination and Appointment of Directors, Qualifications and Terms of Appointment, Advice and Consent; Annual and Other Meetings; Committees; Board Approval of Investment Policies Required; Open Meetings, Qualifications
(a) The West Virginia Board of Treasury Investments is created as a public body corporate and established to provide prudent fiscal administration, investment, and management for the Consolidated Fund. (b) Any appointment to the board is effective immediately upon appointment by the Governor with respect to voting, constituting a quorum, receiving expenses, and all other […]