                                 CODE OF VIRGINIA

INVESTMENT OF ASSETS OF TRUSTS OR EQUIVALENT ARRANGEMENT FOR POSTEMPLOYMENT
BENEFITS OTHER THAN PENSIONS (§ 15.2-1549)

All funds appropriated to a trust or equivalent arrangement for postemployment
benefits other than pensions, as defined in § 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 §
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 § 51.1-803 and such investments shall not be limited by Chapter
45 (§ 2.2-4500 et seq.) of Title 2.2.

HISTORY: 2007, c. 710.