West Virginia Code 12-6-9 – Fees for service
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The board may charge fees, which may be subtracted from the total return, for the reasonable and necessary expenses incurred by the investment management board in rendering services. All fees which are dedicated or identified or readily identifiable to an entity, plan or fund shall be charged to that entity, plan or fund and all other fees shall be charged as a percentage of assets under management. At its annual meeting, the board shall adopt a fee schedule and a budget reflecting fee structures.
Terms Used In West Virginia Code 12-6-9
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Board: means the governing body for the West Virginia Investment Management Board and any reference elsewhere in this code to Board of Investments or West Virginia Trust Fund means the board as defined in this subdivision. See West Virginia Code 12-6-2