§ 15.2-1549. Investment of assets of trusts or equivalent arrangement for postemployment benefits other than pen...
All funds appropriated to a trust or equivalent arrangement for postemployment benefits other than pensions, as defined in § 15.2-1545, and all funds accrued from the investment of any such funds that are on hand at any time and are not necessary for immediate payment of benefits shall be invested by the finance board, by any person or entity serving as an alternative thereto pursuant to § 15.2-1547, or by an investment manager who is serving as a trustee of the funds. All such funds shall be invested in accordance with the prudent person standard established by § 51.1-803 and such investments shall not be limited by Chapter 45 (§ 2.2-4500 et seq.) of Title 2.2.
(2007, c. 710.)
Sections: Previous 15.2-1537 15.2-1537.1 15.2-1538 15.2-1539 15.2-1540 15.2-1541 15.2-1541.1 15.2-1542 15.2-1543 15.2-1544 15.2-1545 15.2-1546 15.2-1547 15.2-1548 15.2-1549Last modified: April 16, 2009