West Virginia § 18-7A-21 Misuse of funds; penalties

West Virginia Statutes

§ 18-7A-21 — Misuse of funds; penalties

West Virginia § 18-7A-21

Ch. 18EDUCATION

Art. 7ASTATE TEACHERS RETIREMENT SYSTEM

This text of West Virginia § 18-7A-21 (Misuse of funds; penalties) is published on Counsel Stack Legal Research, covering West Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

W. Va. Code § 18-7A-21 (2026).

Text

No member nor employee of the retirement board, for himself or as an agent or partner of others, or for a corporation of which he is an officer, stockholder or member, shall directly or indirectly borrow any of the funds or deposits of the retirement board or in any manner use such funds except to make such payments as are authorized by the board under this article. Any member or employee violating the provisions of this section shall be guilty of a misdemeanor, and, upon conviction, be fined not more than $1,000 or be imprisoned for one year, or both.

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No member nor employee of the retirement board, for himself or as an agent or partner of others, or for a corporation of which he is an officer, stockholder or member, shall directly or indirectly borrow any of the funds or deposits of the retirement board or in any manner use such funds except to make such payments as are authorized by the board under this article. Any member or employee violating the provisions of this section shall be guilty of a misdemeanor, and, upon conviction, be fined not more than $1,000 or be imprisoned for one year, or both.