W. Va. Code R. § 112-17-3

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 112-17-3 - Purchasing Authority

The following are the exemptions from the provisions of W. Va. Code § 5A-3-1 et seq. for the STO:

3.1. Banking, Investments and Related Commodities and Services - W.Va. Code § 12-1-7 and §12-3A-3.

3.1.1. W.Va. Code § 12-1-7 provides that only the Treasurer has authority to enter into contracts with financial institutions for banking commodities and services.

3.1.2. W.Va. Code § 12-3A-3 requires the Treasurer to competitively bid for necessary banking, investment and related commodities and services, which procurements are exempt from §5A-3-1 et seq.

3.2. West Virginia Board of Treasury Investments ("WVBTI") - W. Va. Code § 12-6C-1 et seq.

3.2.1. W. Va. Code § 12-6C-5 authorizes the WVBTI to retain and contract with legal, accounting, financial and investment managers, advisors, and consultants.

3.2.2. W. Va. Code § 12-6C-7(h) provides the WVBTI is exempt from the provisions of W. Va. Code § 5A-3-1 et seq. but is subject to the purchasing policies and procedures of the STO.

3.3. Board of Trustees of the College Prepaid Tuition and Savings Program and the College Prepaid Tuition and Savings Program ("Board") - W. Va. Code § 18-30-1 et seq.

3.3.1. W. Va. Code § 18-30-5 requires the Board to execute contracts and other instruments for necessary goods and services, employ necessary personnel and engage the services of private consultants, actuaries, auditors, counsel, managers, trustees, and any other contractors or professionals needed, and that selection of these are not subject to the provisions of W. Va. Code § 5A-3-1 et seq.

3.4. State of West Virginia Deferred Compensation Plan ("Plan") - W. Va. Code § 5-10B-1 et seq.

3.4.1. W. Va. Code § 5-10B-1 provides that notwithstanding any provisions of W. Va. Code to the contrary, the Plan is exempt from W. Va. Code § 5A-3-1 et. seq. for the various commodities and services listed.

3.5. Treasurer Selection of Financial Advisor - W. Va. Code §12-5 et seq.

3.5.1. W. Va. Code § 12-5-7 provides the Treasurer may select or serve as financial advisor for all various securities and indebtedness issued, unless expressly prohibited by law. Selection of professionals shall be competitive, but bidding is not required to comply with W. Va. Code § 5A-3-1 et. seq.

3.6. West Virginia Jumpstart Savings Program and its associated Board ("Jumpstart" or "Jumpstart Board") - W. Va. Code § 18-30A-1 et seq.

3.6.1. W. Va. Code § 18-30A-6 requires the governing board of the Jumpstart Savings Program to execute contracts and other instruments for necessary goods and services, employ necessary personnel, and engage the services of private consultants, auditors, counsel, managers, trustees, and any other contractors or professionals needed for rendering professional and technical assistance and advice, and that selection of these services is not subject to the provisions of W. Va. Code § 5A-3-1 et seq.

3.7. West Virginia Hope Scholarship Program and its associated Board ("Hope Scholarship" or "Hope Scholarship Board") - W. Va. Code 18-31-1 et seq.

3.7.1. W. Va. Code § 18-31-4 requires the Hope Scholarship Board to execute contracts and other instruments for necessary goods and services, employ necessary personnel and engage the services of private consultants, actuaries, auditors, counsel, managers, trustees, and any other contractor or professional needed for rendering professional and technical assistance and advice, and that selection of these services is not subject to the provisions of W. Va. Code § 5A-3-1 et. seq.

W. Va. Code R. § 112-17-3