§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 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 structures.