{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/51.1-149.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/51.1-149.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/51.1-149.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/51.1-149.html"}],"law_id":77374,"edition_id":1,"section_id":77374,"structure_id":15367,"section_number":"51.1-149","catch_line":"Appointment of custodian; payments","history":"1952, c. 157, \u00a7 51-111.51; 1988, c. 809; 1990, c. 832.","full_text":"The Board is authorized to appoint custodians for the safekeeping and payment of retirement system assets. The selection of these investment services shall be governed exclusively by the fiduciary standard set forth in this chapter.\n\t\tThe Board may request the State Treasurer to issue retirement benefit payments on behalf of the retirement system. At the direction of the Board, retirement payments from the accounts shall be made by the State Treasurer, on warrants of the Comptroller, issued upon vouchers signed by persons designated by the Board. A duly attested copy of a resolution of the Board designating the persons and bearing on its face the specimen signatures of the persons shall be filed with the Comptroller as his authority for issuing warrants upon such vouchers. No voucher shall be drawn unless it has been authorized by Board resolution.","order_by":null,"text":{"0":{"id":277554,"text":"The Board is authorized to appoint custodians for the safekeeping and payment of retirement system assets. The selection of these investment services shall be governed exclusively by the fiduciary standard set forth in this chapter.\n\t\tThe Board may request the State Treasurer to issue retirement benefit payments on behalf of the retirement system. At the direction of the Board, retirement payments from the accounts shall be made by the State Treasurer, on warrants of the Comptroller, issued upon vouchers signed by persons designated by the Board. A duly attested copy of a resolution of the Board designating the persons and bearing on its face the specimen signatures of the persons shall be filed with the Comptroller as his authority for issuing warrants upon such vouchers. No voucher shall be drawn unless it has been authorized by Board resolution.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":15367,"edition_id":1,"name":"Assets of Retirement System","identifier":"8","label":"article","depth":3,"order_by":1,"parent_id":13056,"metadata":{},"date_created":"2026-06-26 03:54:20","date_modified":"2026-06-26 03:54:20","permalink":{"id":235333,"object_type":"structure","relational_id":15367,"identifier":"8","token":"51.1\/1\/8","url":"\/51.1\/1\/8\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13056,"edition_id":1,"name":"Virginia Retirement System","identifier":"1","label":"chapter","depth":2,"order_by":1,"parent_id":12947,"metadata":{},"date_created":"2026-06-26 03:44:11","date_modified":"2026-06-26 03:44:11","permalink":{"id":235031,"object_type":"structure","relational_id":13056,"identifier":"1","token":"51.1\/1","url":"\/51.1\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12947,"edition_id":1,"name":"Pensions, Benefits, and Retirement","identifier":"51.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:04","date_modified":"2026-06-26 03:44:04","permalink":{"id":235029,"object_type":"structure","relational_id":12947,"identifier":"51.1","token":"51.1","url":"\/51.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":66002,"structure_id":15367,"section_number":"51.1-147","catch_line":"Members' contribution account","url":"\/51.1-147\/","token":"51.1\/1\/8\/51.1-147","metadata":false},{"id":77841,"structure_id":15367,"section_number":"51.1-148","catch_line":"Retirement allowance account","url":"\/51.1-148\/","token":"51.1\/1\/8\/51.1-148","metadata":false},{"id":77374,"structure_id":15367,"section_number":"51.1-149","catch_line":"Appointment of custodian; payments","url":"\/51.1-149\/","token":"51.1\/1\/8\/51.1-149","metadata":false},{"id":58505,"structure_id":15367,"section_number":"51.1-150","catch_line":"Deposits","url":"\/51.1-150\/","token":"51.1\/1\/8\/51.1-150","metadata":false},{"id":59534,"structure_id":15367,"section_number":"51.1-151","catch_line":"Repealed","url":"\/51.1-151\/","token":"51.1\/1\/8\/51.1-151","metadata":false}],"previous_section":{"id":77841,"structure_id":15367,"section_number":"51.1-148","catch_line":"Retirement allowance account","url":"\/51.1-148\/","token":"51.1\/1\/8\/51.1-148","metadata":false},"next_section":{"id":58505,"structure_id":15367,"section_number":"51.1-150","catch_line":"Deposits","url":"\/51.1-150\/","token":"51.1\/1\/8\/51.1-150","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/51.1-149\/","history_text":"

This law was first created in 1952. The record of its establishment is cataloged in chapter 157 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. Unfortunately, the 1952 \u201cActs\u201d aren\u2019t available online. It has been modified 2 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1988, chapter 809; in 1990, chapter 832.<\/p>","references":false,"refers_to":false,"permalink":{"id":235343,"object_type":"law","relational_id":77374,"identifier":"51.1-149","token":"51.1\/1\/8\/51.1-149","url":"\/51.1-149\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/51.1-149\/","token":"51.1\/1\/8\/51.1-149","dublin_core":{"Title":"Appointment of custodian; payments","Type":"Text","Format":"text\/html","Identifier":"\u00a7 51.1-149","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The Board<\/span> is authorized to appoint custodians for the safekeeping and payment of retirement system<\/span> assets<\/span>. The selection of these investment services<\/span> shall be governed exclusively by the fiduciary standard set forth in this chapter.\n\t\tThe Board<\/span> may request the State Treasurer to issue<\/span> retirement benefit payments on behalf of the retirement system<\/span>. At the direction of the Board<\/span>, retirement payments from the accounts shall be made by the State Treasurer, on warrants of the Comptroller, issued upon vouchers signed by persons designated by the Board<\/span>. A duly attested copy of a resolution of the Board<\/span> designating the persons and bearing on its face the specimen signatures of the persons shall be filed with the Comptroller as his authority for issuing warrants upon such vouchers. No voucher shall be drawn unless it has been authorized by Board<\/span> resolution.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nAPPOINTMENT OF CUSTODIAN; PAYMENTS (\u00a7 51.1-149)\n\nThe Board is authorized to appoint custodians for the safekeeping and payment of\nretirement system assets. The selection of these investment services shall be\ngoverned exclusively by the fiduciary standard set forth in this chapter.\n\t\tThe Board may request the State Treasurer to issue retirement benefit payments\non behalf of the retirement system. At the direction of the Board, retirement\npayments from the accounts shall be made by the State Treasurer, on warrants of\nthe Comptroller, issued upon vouchers signed by persons designated by the Board.\nA duly attested copy of a resolution of the Board designating the persons and\nbearing on its face the specimen signatures of the persons shall be filed with\nthe Comptroller as his authority for issuing warrants upon such vouchers. No\nvoucher shall be drawn unless it has been authorized by Board resolution.\n\nHISTORY: 1952, c. 157, \u00a7 51-111.51; 1988, c. 809; 1990, c. 832.","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}}