Can I read The Dangers of Relying on a Legal List: A Case Study of the West Virginia Consolidated Investment Fund on EtoBox?

The Dangers of Relying on a Legal List: A Case Study of the West Virginia Consolidated Investment Fund by Vernon R. Hayes Jr. is a scholarly article available to read on EtoBox.

What is The Dangers of Relying on a Legal List: A Case Study of the West Virginia Consolidated Investment Fund about?

Since the mid 1970s, many local governments have begun using state‐run local government investment pools for their cash management needs. Some pools operate under statutory limitations on investment instruments known as “legal lists,” other pools operate either under a “Prudent Person Rule” standard, while others use a combination of the two. This article examines the potential dangers of an investment pool relying too heavily upon a legal list fiduciary standard, by examining the West Virginia Consolidated Investment Fund, which lost nearly 25 percent of its principal in a financial scandal during the 1980s.

Author

Vernon R. Hayes Jr.

Publisher

John Wiley and Sons; Wiley (Blackwell Publishing); Wiley-Blackwell; Wiley (ISSN 0275-1100)

Published

1999

Language

EN