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1997 SESSION

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HB 2384 Birth-Related Neurological Injury Compensation Program.

Introduced by: Clifton A. Woodrum | all patrons    ...    notes | add to my profiles

SUMMARY:

Virginia-Birth Related Neurological Injury Compensation Program, board of directors' standard of care; Fund assets. Establishes a standard of care for the board of directors of the Virginia Birth-Related Neurological Injury Compensation Program. The board is required to 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. Any decisions regarding the investment of the assets of the Fund shall be based on the advice of one or more investment advisors retained by the board from a list provided by the chief investment officer of the Virginia Retirement System. The board must report annually to the Speaker of the House of Delegates and to the chairman of the Senate Rules Committee regarding the investment of the Fund's assets.


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