West Virginia CHAPTER 12. — PUBLIC MONEYS AND SECURITIES
- CHAPTER 12. — PUBLIC MONEYS AND SECURITIES.
- ARTICLE 1. — STATE DEPOSITORIES.
- §12-1-1. — Legislative findings and purpose.
- §12-1-2. — Depositories for demand deposits; categories of demand deposits; competitive bidding for disbursement accounts; maintenance of deposits by State Treasurer; definition of spending unit.
- §12-1-3. — Depositories for interest earning deposits; qualifications.
- §12-1-4. — Bonds to be given by depositories.
- §12-1-5. — Limitation on amount of deposits.
- §12-1-6. — Unlawful acceptance of deposits by depositories.
- §12-1-7. — Rules; banking contracts and agreements; depositors; agreements.
- §12-1-8. — Conflict of interest.
- §12-1-9. — Transfer of funds by check or electronic funds transfer; requirements.
- §12-1-10. — The treasurer to keep accounts with depositories; settlements with depositories; statements of depository balances; reconciliation of statements and records.
- §12-1-11. — Reports by depositories to treasurer; discontinuance of depositories.
- §12-1-12. — Investing funds in treasury; depositories outside the state.
- §12-1-12a. — Investment of operating funds for cash flow needs.
- §12-1-12b. — Cash Management Improvement Act; administration; reports.
- §12-1-12c. — Cash management improvement act; administration; reports.
- §12-1-12d. — Pilot program for investments by Marshall University and West Virginia University.
- §12-1-13. — Payment of banking services and litigation costs for prior investment losses.
- ARTICLE 1A. — WEST VIRGINIA SMALL BUSINESS LINKED DEPOSIT PROGRAM.
- §12-1A-1. — Definitions.
- §12-1A-2. — Legislative findings.
- §12-1A-3. — Limitations on investment in linked deposits.
- §12-1A-4. — Applications for loan priority; loan package; counseling.
- §12-1A-5. — Acceptance or rejection of loan package; deposit agreement for linked deposits.
- §12-1A-6. — Certification and monitoring of compliance; accountability and reporting.
- §12-1A-7. — Liability of state.
- §12-1A-8. — Penalties for violation of article.
- §12-1A-9. — Effective dates.
- ARTICLE 2. — PAYMENT AND DEPOSIT OF TAXES AND OTHER AMOUNTS DUE THE STATE OR ANY POLITICAL SUBDIVISION.
- §12-2-1. — How and to whom taxes and other amounts due the state or any political subdivision, official, department, board, commission or other collecting agency thereof may be paid.
- §12-2-2. — Itemized record of moneys received for deposit; regulations governing deposits; credit to state fund; exceptions.
- §12-2-3. — Deposit of moneys not due the state.
- §12-2-4. — Duty of depositories.
- §12-2-5. — Deposits in correspondent banks of state depositories.
- §12-2-6. — Violations; penalties.
- ARTICLE 3. — APPROPRIATIONS, EXPENDITURES AND DEDUCTIONS.
- §12-3-1. — Manner of payment from treasury; form of checks.
- §12-3-1a. — Payment by deposit in bank account.
- §12-3-1b. — Voluntary direct deposits by auditor of salaries of employees to banks or other financial institutions.
- §12-3-2. — Auditor may administer oaths; seal.
- §12-3-3. — Repealed.
- §12-3-4. — No check to be drawn on depository having insufficient funds; necessity of warrant and check or electronic funds transfer.
- §12-3-5. — When requisition to Auditor sufficient authority for issuing warrant.
- §12-3-6. — Requisitions on behalf of state boards and institutions.
- §12-3-7. — Payment of compensation and expenses of members of state boards and commissions; embezzlement.
- §12-3-8. — Requisition on behalf of institutions to be accompanied by statement showing funds on hand.
- §12-3-8a. — Limitation on requisitions from judicial accounts.
- §12-3-9. — Certificate with requisition as to need of money for present use.
- §12-3-10. — Itemized statement of claim against state; rules to be promulgated concerning same.
- §12-3-10a. — Purchasing card program.
- §12-3-10b. — Fraudulent or unauthorized use of purchasing card prohibited; penalties.
- §12-3-10c. — Transaction fees; disposition of fees.
- §12-3-10d. — Purchasing card fund created; expenditures.
- §12-3-10e. — Purchasing card advisory committee created; purpose; membership; expenses.
- §12-3-10f. — Receiving report required for commodities received.
- §12-3-11. — Travel expenses; rules to be promulgated concerning travel expenses; dues to voluntary organizations; recruitment expenses for higher education policy commission and West Virginia higher education governing boards; moving expenses of employees of higher education policy commission and West Virginia higher education governing boards.
- §12-3-12. — Expiration of unexpended appropriations.
- §12-3-12a. — Payment of salaries of employees of West Virginia board of regents and institutions of higher education in twelve equal monthly installments.
- §12-3-13. — Salaries not to be paid until services rendered.
- §12-3-13a. — Deductions by state auditor from salaries of state officials and employees to pay taxes and purchase United States government bonds.
- §12-3-13b. — Voluntary deductions by state auditor from salaries of employees to pay association dues or fees and to pay supplemental health and life insurance premiums.
- §12-3-14. — Expenditures for institutions to be confined to appropriations for fiscal year; exceptions.
- §12-3-15. — Expenditures for institutions in excess of appropriations; unauthorized debts; use in part payment of appropriation for whole payment.
- §12-3-16. — Personal liability and penalty for violation of two preceding sections.
- §12-3-17. — Liabilities incurred by state boards, commissions, officers or employees which cannot be paid out of current appropriations.
- §12-3-18. — Itemized statement of claims against counties, school districts or municipalities; false swearing; indorsement.
- §12-3-19. — General order by county commission, board of education or governing body of a municipal corporation prohibited.
- §12-3-20. — Electronic or wire transfer.
- ARTICLE 3A. — FINANCIAL ELECTRONIC COMMERCE.
- §12-3A-1. — Legislative purpose and findings.
- §12-3A-2. — Definitions.
- §12-3A-3. — Financial electronic commerce.
- §12-3A-4. — Payment by a West Virginia pay card.
- §12-3A-5. — Limited establishment and use of point of sale
- §12-3A-6. — Receipting of electronic commerce purchases.
- ARTICLE 4. — ACCOUNTS, REPORTS AND GENERAL PROVISIONS.
- §12-4-1. — Biennial reports.
- §12-4-2. — Accounts of treasurer and auditor; auditor to certify condition of revenues and funds of the state.
- §12-4-3. — Accounts of appropriations.
- §12-4-3a. — Accounts of the auditor.
- §12-4-4. — Accounts of expenditures; signing of checks and warrants; facsimile signatures and use of mechanical and electrical devices; forgery; penalty.
- §12-4-5. — Individual accounts; auditor to notify sureties when sheriff defaults.
- §12-4-6. — Comparison of books of auditor and treasurer; monthly balances.
- §12-4-7. — Annual report of auditor.
- §12-4-8. — Office hours of auditor and treasurer.
- §12-4-9. — Absence of auditor or treasurer.
- §12-4-10. — State not preferred as to unsecured claim.
- §12-4-11. — Exceptional items fund.
- §12-4-12. — Treasurer authorized to provide check-cashing service; establishment and audit of cash funds.
- §12-4-13. — Repealed.
- §12-4-14. — Accountability of persons receiving state funds or grants; sworn statements by volunteer fire departments; criminal penalties.
- §12-4-15. — Bank at school.
- §12-4-16. — Transfer of specified excess funds.
- ARTICLE 4A. — CENTRALIZED MANAGEMENT OF COMPLAINTS.
- §12-4A-1. — Legislative findings.
- §12-4A-2. — General purpose.
- §12-4A-3. — Duties generally.
- §12-4A-4. — Enforcement.
- ARTICLE 4B. — COMPUTER DONATION PROGRAM.
- §12-4B-1. — Legislative findings.
- §12-4B-2. — Computer donation program created.
- §12-4B-3. — Legislative rules.
- §12-4B-4. — Severability.
- ARTICLE 5. — PUBLIC SECURITIES.
- §12-5-1. — Securities defined.
- §12-5-2. — Treasurer custodian of securities; charges to companies for care, exchange and substitution of securities.
- §12-5-3. — Legislative auditor to examine and list securities.
- §12-5-4. — Treasurer to keep accounts and make collections.
- §12-5-5. — Protection and handling of securities.
- §12-5-6. — When notes deemed securities; appraisal.
- §12-5-7. — Treasurer as financial advisor; selection of necessary parties; employment of bond counsel.
- ARTICLE 6. — WEST VIRGINIA INVESTMENT MANAGEMENT BOARD.
- §12-6-1. — Purposes and objects; how article cited.
- §12-6-1a. — Legislative findings.
- §12-6-2. — Definitions.
- §12-6-3. — West Virginia investment management board continued; body corporate; trust fund board; trustees; nomination and appointment of trustees, qualifications and terms of appointment, advice and consent; annual and other meetings; designation of representatives and committees; board meetings with committees regarding investment policy statement required; open meetings, qualifications.
- §12-6-4. — Management and control of fund; officers; staff; fiduciary or surety bonds for trustees; liability of trustees.
- §12-6-5. — Powers of the Board.
- §12-6-5a. — Legislative findings and limitation on certain board actions.
- §12-6-6. — Annual audits; reports and information to constitutional and legislative officers, council of finance and administration, consolidated public retirement board, workers' compensation fund and coal-workers' pneumoconiosis fund; statements and reports open for inspection.
- §12-6-7. — Legal status of agencies and boards continued.
- §12-6-8. — Investment funds established; management thereof.
- §12-6-9. — Fees for service.
- §12-6-9a. — Trust indenture.
- §12-6-9b. — Repealed.
- §12-6-9c. — Authorization of additional investments.
- §12-6-9d. — Repealed.
- §12-6-9e. — Legislative findings; loans for industrial development; availability of funds and interest rates.
- §12-6-9f. — Repealed.
- §12-6-9g. — Repealed.
- §12-6-9h. — Securities handling.
- §12-6-10. — Repealed.
- §12-6-11. — Standard of care.
- §12-6-12. — Investment restrictions.
- §12-6-13. — Board as agency for investments; exceptions.
- §12-6-14. — Reports of board.
- §12-6-15. — Repealed.
- §12-6-16. — Existing investments.
- §12-6-17. — Severability of provisions.
- §12-6-18. — Repealed.
- §12-6-19. — Authorization for loans by the board.
- §12-6-20. — Continuation of board.
- §12-6-21. — Investment with regional jail and correctional facility authority.
- ARTICLE 6A. — THE DEBT MANAGEMENT ACT OF 1991.
- §12-6A-1. — Short title.
- §12-6A-2. — Legislative findings and declaration of public necessity.
- §12-6A-3. — Division of debt management created; director.
- §12-6A-4. — Definitions.
- §12-6A-5. — Powers and duties.
- §12-6A-6. — Debt information reporting.
- §12-6A-7. — Promulgation of rules.
- ARTICLE 6B. — DEBT CAPACITY ADVISORY DIVISION.
- §12-6B-1. — Purpose.
- §12-6B-2. — Debt capacity advisory division created.
- §12-6B-3. — Definitions.
- §12-6B-4. — Powers and duties.
- ARTICLE 6C. — WEST VIRGINIA BOARD OF TREASURY INVESTMENTS.
- §12-6C-1. — Purposes and objects; how article cited.
- §12-6C-2. — Legislative findings.
- §12-6C-3. — Definitions.
- §12-6C-4. — West Virginia Board of Treasury Investments created; body corporate; board; directors; nomination and appointment of directors, qualifications and terms of appointment, advice and consent; annual and other meetings; committees; board approval of investment policies required; open meetings, qualifications.
- §12-6C-5. — Powers of the Board.
- §12-6C-6. — Consolidated fund continued; management.
- §12-6C-7. — Management and control of fund; officers; staff; fiduciary or surety bonds for directors; liability of directors.
- §12-6C-8. — Administration of Consolidated Fund.
- §12-6C-9. — Asset allocation; investment policies, authorized investments; restrictions.
- §12-6C-10. — Investment authority for Consolidated Fund transferred to Board; exceptions.
- §12-6C-11. — Legislative findings; loans for industrial development; availability of funds and interest rates.
- §12-6C-12. — Securities handling.
- §12-6C-13. — Standard of care.
- §12-6C-14. — Existing investments.
- §12-6C-15. — Annual audits; financial statements; information.
- §12-6C-16. — Reports to participants.
- §12-6C-17. — Legal status of spending units continued.
- §12-6C-18. — Authorization for loans by the Board.
- §12-6C-19. — Creation of fee account and investment account; budget.
- §12-6C-20. — Termination of board.
- ARTICLE 7. — JOBS INVESTMENT TRUST FUND.
- §12-7-1. — Purposes and objectives; how article cited.
- §12-7-2. — Legislative findings.
- §12-7-3. — Definitions.
- §12-7-4. — Jobs Investment Trust Board; composition; appointment, term of private members; chairman; quorum.
- §12-7-5. — Management and control of jobs investment trust vested in board; officers; liability; authority of executive director to act on behalf of board; relationship to higher education institutions.
- §12-7-6. — Corporate powers.
- §12-7-7. — Limitation on investments.
- §12-7-8. — Funding.
- §12-7-8a. — New millennium fund; new millennium fund promissory notes; nonincentive tax credits; rulemaking.
- §12-7-9. — Applications for investment priority; investment package.
- §12-7-10. — Acceptance or rejection of investment package.
- §12-7-11. — Documentary materials concerning trade secrets; commercial, financial or personal information; confidentiality.
- §12-7-12. — Reports of board; report of housing development fund.
- §12-7-13. — Earnings.
- §12-7-14. — Exemption from certain requirements; audit.
- §12-7-15. — Conflicts of interest.
- §12-7-16. — Credit of state not pledged.
- ARTICLE 8. — PENSION LIABILITY REDEMPTION.
- §12-8-1. — Short title.
- §12-8-2. — Declaration of policy; legislative findings; legislative intent.
- §12-8-3. — Definitions.
- §12-8-4. — Issuance of bonds; determination of unfunded actuarial accrued liability.
- §12-8-5. — Method of bond issuance; manner of sale of bonds; authority of Department of Administration.
- §12-8-6. — Contracts with obligation holders; provisions of bonds and trust indentures and other agreements.
- §12-8-7. — Proceeds from the sale of bonds.
- §12-8-8. — Continuation of Pension Liability Redemption Fund; disbursements to pay pension liability redemption payments.
- §12-8-9. — Refunding bonds.
- §12-8-10. — State pledges and covenants.
- §12-8-11. — Legal remedies of obligation holders.
- §12-8-12. — Nature of bonds; legal investments.
- §12-8-13. — Exemption from taxation.
- §12-8-14. — Supersedure.
- §12-8-15. — Operation of article.
- §12-8-16. — Severability.