2017 Session

Budget Amendments - SB900 (Member Request)

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Chief Patron: Ruff
VRS - Employment of Attorneys (language only)

Item 4-5.02 #1s

Item 4-5.02 #1s

Special Conditions and Restrictions on Expenditures
Third Party Transactions


Page 556, line 10, after "agreements to seek" insert "i)".

Page 556, line 10, after "foreign jurisdictions" insert "and ii) legal advice related to its investments".


(This amendment authorizes, per the request of VRS, the extension of existing authority to employ outside counsel for foreign securities litigation also to allow the Agency to hire outside counsel related to investment transaction and report any such agreements to the Office of the Attorney General. This authority would be similar to that already accorded to the State Corporation Commission, the Virginia College Savings Plan, the Department of Labor and Industry, the Virginia Resources Commission, and the Virginia Racing Commission.)