West Virginia § 8-22-11a Restrictions on investment

West Virginia Statutes

§ 8-22-11a — Restrictions on investment

West Virginia·Ch. 8 MUNICIPAL CORPORATIONS·Art. 22 RETIREMENT BENEFITS GENERALLY; POLICEMEN'S PENSION AND RELIEF FUND; FIREMEN'S PENSION AND RELIEF FUND; PENSION PLANS FOR EMPLOYEES OF WATERWORKS SYSTEM, SEWERAGE SYSTEM OR COMBINED WATERWORKS AND SEWERAGE SYSTEM

Moneys invested as permitted by §8-22-11 of this code are subject to the restrictions and conditions contained in this section:

(1)At no time may more than 75 percent of the portfolio of either fund be invested in securities described in §8-22-11(7) of this code;

(2)At no time may more than 20 percent of the portfolio of either fund be invested in securities described in §8-22-11(7) of this code which mature within one year from the date of issuance thereof;

(3)At no time may more than nine percent of the portfolio be invested in securities issued by a single private corporation or association; and

(4)At no time may more than 60 percent of the portfolio be invested in equity mutual funds under §8-22-11(10) of this code.

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Moneys invested as permitted by §8-22-11 of this code are subject to the restrictions and conditions contained in this section:

(1) At no time may more than 75 percent of the portfolio of either fund be invested in securities described in §8-22-11(7) of this code;

(2) At no time may more than 20 percent of the portfolio of either fund be invested in securities described in §8-22-11(7) of this code which mature within one year from the date of issuance thereof;

(3) At no time may more than nine percent of the portfolio be invested in securities issued by a single private corporation or association; and

(4) At no time may more than 60 percent of the portfolio be invested in equity mutual funds under §8-22-11(10) of this code.

West Virginia § 8-22-11a (Restrictions on investment) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.