SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
1998 SESSION
HB 841 Prudent Investor Act; created.
Introduced by: Whittington W. Clement | all patrons ... notes | add to my profiles
SUMMARY:
Uniform Prudent Investor Act. Adopts the uniform act, which is intended to facilitate reasonable investment practices by trustees. The bill adopts a standard of prudence which is applied to an investment as part of a total portfolio rather than to the individual investment; makes the fiduciary's central consideration an evaluation of risk versus return; allows investment in anything that meets the requirements of prudent investing; recognizes the need for diversification; and allows delegation of investment and management functions.
FULL TEXT
HISTORY
- 01/26/98 House: Presented & ordered printed 983751152
- 01/26/98 House: Referred to Committee on General Laws
- 01/27/98 House: Assigned to General Laws sub-committee: 5
- 02/05/98 House: Reported from General Laws (26-Y 0-N)
- 02/05/98 House: Referred to Committee for Courts of Justice
- 02/09/98 House: Assigned to C. J. sub-committee: 2
- 02/12/98 House: Continued to 1999 in Courts of Justice (24-Y 0-N)