WVC 12 - 6 C- 19
§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 Fund shall be for the purposes set
forth in this article and are not authorized from collections, but
are to be made only in accordance with appropriation by the
Legislature, in accordance with the provisions of article three,
chapter twelve of this code and upon the fulfillment of the
provisions set forth in article two, chapter eleven-b of this code:
, That for the fiscal year ending the thirtieth day of
June, two thousand six, expenditures are authorized from
collections rather than pursuant to an appropriation by the
(b) There is created in the State Treasury a special account
designated the Board of Treasury Investments Investment Fund for
use in receiving funds for investment, disbursing funds from
investments and processing investment transactions.
(c) All fees dedicated, identified or readily identifiable to
an entity, fund, pool or participant account shall be charged to
that entity, fund, pool or participant account and all other fees
shall be charged as a percentage of assets under management. At
its annual meeting, the Board shall adopt a fee schedule and a budget reflecting fee schedules.
Note: WV Code updated with legislation passed through the 2016 Regular Session
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