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.
W. Va. Code § 12-6-9
Fees for service
Known as the West Virginia Investment Management Act
The act spans §§ 12–12 (32 sections).
Applied in 1 court decision — leading case State Ex Rel. Gainer v. W. VA. BD. OF INVEST. (1995)
Most recently applied in State Ex Rel. Gainer v. W. VA. BD. OF INVEST. (May 1995)
Official source: West Virginia Legislature. Reproduced from public-domain West Virginia statutes; confirm against the official source for the current text. Not legal advice.