§ 12-6-18 — Liberal construction

This article, being necessary to secure the public health, safety, convenience and welfare of the citizens of this state, shall be liberally construed to effect the public purposes of this article. The powers granted to the board in this article, including, without limitation, those granted in section five of this article, are intended to be broad and shall be construed broadly so as to vest in the board the power and authority necessary or appropriate to carry out and effectuate its corporate purposes in the financial markets of the world, as the same may evolve, from time to time, at all times in a fashion consistent with the prudent investor standard as provided by the West Virginia Uniform Prudent Investor Act, codified as article six-c, chapter forty-four of this code and section eleven of this article.

Legislative History

2007 Reg. Sess., SB438; 2006 Reg. Sess., SB361; 2004 Reg. Sess., SB121; 2002 Reg. Sess., SB653; 1997 Reg. Sess., SB563; 1997 Reg. Sess., SB85; 1996 Reg. Sess., SB110; 1990 Reg. Sess., SB37; 1967 Reg. Sess., SB300