CODE OF VIRGINIA

INVESTMENT OF ASSETS OF THE COMMONWEALTH’S ATTORNEYS TRAINING FUND (§
51.1-124.37)

A. In addition to such other powers as shall be vested in the Board of the
Virginia Retirement System (Board), the Board shall have the full power to
invest, reinvest, and manage the assets of the Commonwealth’s Attorneys
Training Fund (Fund). The Board shall maintain a separate accounting for the
assets of the Fund.

B. The Board shall invest the assets of the Fund with the care, skill, prudence,
and diligence under the circumstances then prevailing that a prudent person
acting in a like capacity and familiar with such matters would use in the
conduct of an enterprise of a like character and with like aims. The Board shall
also diversify such investments so as to minimize the risk of large losses
unless under the circumstances it is clearly prudent not to do so.

C. No officer, director, or member of the Board or of any advisory committee of
the Virginia Retirement System or any of its tax exempt subsidiary corporations
whose actions are within the standard of care set forth in subsection B shall be
held personally liable for losses suffered by the Retirement System on
investments made under the authority of this section.

D. The provisions of §§ 51.1-124.32, 51.1-124.33, 51.1-124.34, and 51.1-124.35
shall apply to the Board’s activities with respect to moneys in the Fund.

E. The Board may assess the Commonwealth’s Attorneys’ Services
Council a reasonable administrative fee for its services.

HISTORY: 2015, cc. 212, 226.