§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 […]
§12-6-6. Annual Audits; Reports and Information to Constitutional and Legislative Officers, Council of Finance and Administration, Consolidated Public Retirement Board, Workers' Compensation Fund and Coal-Workers' Pneumoconiosis Fund; Statements and Reports Open for Inspection
(a) The board shall cause an annual financial and compliance audit of the assets managed by the board to be made by a certified public accounting firm which has a minimum staff of ten certified public accountants and which is a member of the American institute of certified public accountants and, if doing business in […]
§12-6-7. Legal Status of Agencies and Boards Continued
Except as otherwise provided in this article, every state agency or board shall continue to have all of the powers and shall exercise all of the functions and duties vested in or imposed upon it by law, as to any fund, and shall continue to be constituted as provided by existing law.
§12-6-8. Investment Funds Established; Management Thereof
(a) There is continued a special investment fund designated as the Consolidated Fund. Effective June 30, 2005, the power and authority of the board as to the consolidated fund terminates. On July 1, 2005, the board shall transfer the consolidated fund, all moneys, obligations, assets, securities and other investments of the consolidated fund and all […]
§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 […]