§ 6-3-104.  Investment; funds an asset of County.
   (a)   Investment of deferred funds. The deferred compensation program shall provide that deferred funds may be invested in any legitimate investment, including bank interest-bearing accounts, life insurance contracts, annuities, mutual funds, equity products, bonds, or real estate investment trusts. Funds deferred and investments made in accordance with the deferred compensation program shall be held in trust as provided by § 457(g) or § 401(a) of the Internal Revenue Code, as amended.
   (b)   County contribution prohibited; County not liable for investment losses. The County may not contribute to the deferred compensation program, and the County is not responsible for any investment loss incurred in the program.
(1985 Code, Art. 8, § 3-104)  (Bill No. 53-98; Bill No. 86-04)