WEST VIRGINIA CODE
WVC 5 - 10 B- 3
§5-10B-3. Powers; contracts; meetings.
(a) Notwithstanding any provision of this code to the
contrary, including, without limitation, this chapter and chapter
five-a of this code, the state employer and a public employer have
the power necessary or appropriate to carry out the provisions and
objectives of this article and to operate the trust, including,
without limitation, entering into contracts and executing and
delivering instruments; engaging consultants, auditors, counsel,
managers, advisors, trustees or any other contractors or
professionals; and charging and collecting administrative fees.
(b) The state employer or any public employer may, by
contract, agree with any of its employees to defer and hold in
trust any portion of that employee's compensation and may
subsequently purchase or acquire from vendors licensed to do
business in the State of West Virginia investment products for the
purpose of carrying out the objectives of the deferred compensation
plan as described in this article.
(c) Employees are authorized to attend meetings called by the
state employer or public employer for the purpose of explaining a
plan during regular working hours.
Note: WV Code updated with legislation passed through the 2015 Regular Session
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