§5-10B-3. Powers; contracts; meetings

Published: 2015

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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

The WV Code Online is an unofficial copy of the annotated WV Code, provided as a convenience. It has NOT been edited for publication, and is not in any way official or authoritative.