{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/15.2-1549.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/15.2-1549.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/15.2-1549.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/15.2-1549.html"}],"law_id":82231,"edition_id":1,"section_id":82231,"structure_id":16058,"section_number":"15.2-1549","catch_line":"Investment of assets of trusts or equivalent arrangement for postemployment benefits other than pensions","history":"2007, c. 710.","full_text":"All funds appropriated to a trust or equivalent arrangement for postemployment benefits other than pensions, as defined in \u00a7 15.2-1545, and all funds accrued from the investment of any such funds that are on hand at any time and are not necessary for immediate payment of benefits shall be invested by the finance board, by any person or entity serving as an alternative thereto pursuant to \u00a7 15.2-1547, or by an investment manager who is serving as a trustee of the funds. All such funds shall be invested in accordance with the prudent person standard established by \u00a7 51.1-803 and such investments shall not be limited by Chapter 45 (\u00a7 2.2-4500 et seq.) of Title 2.2.","order_by":null,"text":{"0":{"id":294680,"text":"All funds appropriated to a trust or equivalent arrangement for postemployment benefits other than pensions, as defined in \u00a7 15.2-1545, and all funds accrued from the investment of any such funds that are on hand at any time and are not necessary for immediate payment of benefits shall be invested by the finance board, by any person or entity serving as an alternative thereto pursuant to \u00a7 15.2-1547, or by an investment manager who is serving as a trustee of the funds. All such funds shall be invested in accordance with the prudent person standard established by \u00a7 51.1-803 and such investments shall not be limited by Chapter 45 (\u00a7 2.2-4500 et seq.) of Title 2.2.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":16058,"edition_id":1,"name":"Local Trusts to Fund Postemployment Benefits Other Than Pensions","identifier":"8","label":"article","depth":4,"order_by":1,"parent_id":12734,"metadata":{},"date_created":"2026-06-26 04:04:55","date_modified":"2026-06-26 04:04:55","permalink":{"id":153279,"object_type":"structure","relational_id":16058,"identifier":"8","token":"15.2\/II\/15\/8","url":"\/15.2\/II\/15\/8\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12734,"edition_id":1,"name":"Local Government Personnel, Qualification for Office, Bonds, Dual Office Holding and Certain Local Government Officers","identifier":"15","label":"chapter","depth":3,"order_by":1,"parent_id":12733,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":153003,"object_type":"structure","relational_id":12734,"identifier":"15","token":"15.2\/II\/15","url":"\/15.2\/II\/15\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12733,"edition_id":1,"name":"Powers of Local Government","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12720,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":152369,"object_type":"structure","relational_id":12733,"identifier":"II","token":"15.2\/II","url":"\/15.2\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12720,"edition_id":1,"name":"Counties, Cities and Towns","identifier":"15.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":151279,"object_type":"structure","relational_id":12720,"identifier":"15.2","token":"15.2","url":"\/15.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":66857,"structure_id":16058,"section_number":"15.2-1544","catch_line":"Counties, cities, towns, school divisions, and certain political subdivisions may establish local trusts or equivalent arrangements to fund postemployment benefits other than pensions","url":"\/15.2-1544\/","token":"15.2\/II\/15\/8\/15.2-1544","metadata":false},{"id":63092,"structure_id":16058,"section_number":"15.2-1545","catch_line":"Postemployment benefits other than pensions defined","url":"\/15.2-1545\/","token":"15.2\/II\/15\/8\/15.2-1545","metadata":false},{"id":86833,"structure_id":16058,"section_number":"15.2-1546","catch_line":"Assets of trusts or equivalent arrangements for postemployment benefits other than pensions","url":"\/15.2-1546\/","token":"15.2\/II\/15\/8\/15.2-1546","metadata":false},{"id":81208,"structure_id":16058,"section_number":"15.2-1547","catch_line":"Creation of local finance boards to manage the assets of postemployment benefits trust or equivalent arrangement; composition of such boards; alternatives to such boards; liability; and removal from office","url":"\/15.2-1547\/","token":"15.2\/II\/15\/8\/15.2-1547","metadata":false},{"id":68979,"structure_id":16058,"section_number":"15.2-1548","catch_line":"Finance boards or alternatives thereto to manage the assets of trusts or equivalent arrangements to fund postemployment benefits other than pensions and provide annual reports; exemption from Public Procurement Act","url":"\/15.2-1548\/","token":"15.2\/II\/15\/8\/15.2-1548","metadata":false},{"id":82231,"structure_id":16058,"section_number":"15.2-1549","catch_line":"Investment of assets of trusts or equivalent arrangement for postemployment benefits other than pensions","url":"\/15.2-1549\/","token":"15.2\/II\/15\/8\/15.2-1549","metadata":false}],"previous_section":{"id":68979,"structure_id":16058,"section_number":"15.2-1548","catch_line":"Finance boards or alternatives thereto to manage the assets of trusts or equivalent arrangements to fund postemployment benefits other than pensions and provide annual reports; exemption from Public Procurement Act","url":"\/15.2-1548\/","token":"15.2\/II\/15\/8\/15.2-1548","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-1549\/","history_text":"

This law was first created in 2007. The record of its establishment is cataloged in chapter 710<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":[{"id":68979,"section_number":"15.2-1548","catch_line":"Finance boards or alternatives thereto to manage the assets of trusts or equivalent arrangements to fund postemployment benefits other than pensions and provide annual reports; exemption from Public Procurement Act","order_by":null,"url":"\/15.2-1548\/"}],"refers_to":[{"id":63092,"section_number":"15.2-1545","catch_line":"Postemployment benefits other than pensions defined","order_by":null,"url":"\/15.2-1545\/"},{"id":81208,"section_number":"15.2-1547","catch_line":"Creation of local finance boards to manage the assets of postemployment benefits trust or equivalent arrangement; composition of such boards; alternatives to such boards; liability; and removal from office","order_by":null,"url":"\/15.2-1547\/"},{"id":65575,"section_number":"2.2-4500","catch_line":"Legal investments for public sinking funds","order_by":null,"url":"\/2.2-4500\/"},{"id":56610,"section_number":"51.1-803","catch_line":"Investments of retirement systems","order_by":null,"url":"\/51.1-803\/"}],"permalink":{"id":153301,"object_type":"law","relational_id":82231,"identifier":"15.2-1549","token":"15.2\/II\/15\/8\/15.2-1549","url":"\/15.2-1549\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/15.2-1549\/","token":"15.2\/II\/15\/8\/15.2-1549","dublin_core":{"Title":"Investment of assets of trusts or equivalent arrangement for postemployment benefits other than pensions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-1549","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

All funds appropriated to a trust or equivalent arrangement for postemployment benefits other than pensions, as defined in \u00a7 15.2-1545<\/a>, and all funds accrued from the investment of any such funds that are on hand at any time and are not necessary for immediate payment of benefits shall be invested by the finance board, by any person or entity serving as an alternative thereto pursuant to \u00a7 15.2-1547<\/a>, or by an investment manager who is serving as a trustee of the funds. All such funds shall be invested in accordance with the prudent person standard established by \u00a7 51.1-803<\/a> and such investments shall not be limited by Chapter 45 (\u00a7 2.2-4500<\/a> et seq.) of Title 2.2.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nINVESTMENT OF ASSETS OF TRUSTS OR EQUIVALENT ARRANGEMENT FOR POSTEMPLOYMENT\nBENEFITS OTHER THAN PENSIONS (\u00a7 15.2-1549)\n\nAll funds appropriated to a trust or equivalent arrangement for postemployment\nbenefits other than pensions, as defined in \u00a7 15.2-1545, and all funds accrued\nfrom the investment of any such funds that are on hand at any time and are not\nnecessary for immediate payment of benefits shall be invested by the finance\nboard, by any person or entity serving as an alternative thereto pursuant to \u00a7\n15.2-1547, or by an investment manager who is serving as a trustee of the funds.\nAll such funds shall be invested in accordance with the prudent person standard\nestablished by \u00a7 51.1-803 and such investments shall not be limited by Chapter\n45 (\u00a7 2.2-4500 et seq.) of Title 2.2.\n\nHISTORY: 2007, c. 710.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}