Adopted by House 2-28-2014
SB499 HFAT White and Boggs 2-28 #1 McO
Com. Sub. For Com. Sub. For S. B. 499 -- “A BILL to repeal §12-6-12 of the Code of West Virginia, 1931, as amended; and to amend and reenact §12-6-2 and §12-6-11 of said code, all relating to investment of moneys by the West Virginia Investment Management Board; modifying the definition of the term “securities”; continuing the prudent investor standard of care set forth in the West Virginia Uniform Prudent Investor Act as the primary standard of care for the trustees of the West Virginia Investment Management Board; removing certain restrictions on investments by the Investment Management Board; limiting disclosure of information; and restating and adding certain restrictions on investments by the West Virginia Investment Management Board.”.