{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/22.1-145.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/22.1-145.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/22.1-145.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/22.1-145.html"}],"law_id":76672,"edition_id":1,"section_id":76672,"structure_id":14751,"section_number":"22.1-145","catch_line":"Investment of Fund","history":"Code 1950, \u00a7 22-102; 1956, c. 184; 1971, Ex. Sess., c. 128; 1980, c. 559; 1985, c. 139.","full_text":"The Board of Education shall invest the Literary Fund in securities that are legal investments under the laws of the Commonwealth for public funds. The Board may call in any such investment and reinvest the same whenever it deems proper for the preservation, security or improvement of the Literary Fund. Whenever the Board shall invest in bonds of this Commonwealth, no premium shall be required or paid on such investment. All securities for money belonging to the Literary Fund shall be deposited with the State Treasurer for safekeeping, who shall return with his annual report a list thereof with a statement of their value.","order_by":null,"text":{"0":{"id":275241,"text":"The Board of Education shall invest the Literary Fund in securities that are legal investments under the laws of the Commonwealth for public funds. The Board may call in any such investment and reinvest the same whenever it deems proper for the preservation, security or improvement of the Literary Fund. Whenever the Board shall invest in bonds of this Commonwealth, no premium shall be required or paid on such investment. All securities for money belonging to the Literary Fund shall be deposited with the State Treasurer for safekeeping, who shall return with his annual report a list thereof with a statement of their value.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":14751,"edition_id":1,"name":"Literary Fund","identifier":"10","label":"chapter","depth":2,"order_by":1,"parent_id":12823,"metadata":{},"date_created":"2026-06-26 03:49:43","date_modified":"2026-06-26 03:49:43","permalink":{"id":181033,"object_type":"structure","relational_id":14751,"identifier":"10","token":"22.1\/10","url":"\/22.1\/10\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12823,"edition_id":1,"name":"Education","identifier":"22.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:55","date_modified":"2026-06-26 03:43:55","permalink":{"id":180949,"object_type":"structure","relational_id":12823,"identifier":"22.1","token":"22.1","url":"\/22.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":57272,"structure_id":14751,"section_number":"22.1-142","catch_line":"How Fund constituted; management","url":"\/22.1-142\/","token":"22.1\/10\/22.1-142","metadata":false},{"id":79935,"structure_id":14751,"section_number":"22.1-143","catch_line":"Money belonging to Fund received in treasury; accountant","url":"\/22.1-143\/","token":"22.1\/10\/22.1-143","metadata":false},{"id":73717,"structure_id":14751,"section_number":"22.1-144","catch_line":"Recovery of moneys due Fund","url":"\/22.1-144\/","token":"22.1\/10\/22.1-144","metadata":false},{"id":76672,"structure_id":14751,"section_number":"22.1-145","catch_line":"Investment of Fund","url":"\/22.1-145\/","token":"22.1\/10\/22.1-145","metadata":false},{"id":75590,"structure_id":14751,"section_number":"22.1-146","catch_line":"Power of Board to make loans from fund for erection, etc., of school buildings and fueling facilities for school buses","url":"\/22.1-146\/","token":"22.1\/10\/22.1-146","metadata":false},{"id":75337,"structure_id":14751,"section_number":"22.1-146.1","catch_line":"School modernization loan interest rate subsidy payments","url":"\/22.1-146.1\/","token":"22.1\/10\/22.1-146.1","metadata":false},{"id":63686,"structure_id":14751,"section_number":"22.1-147","catch_line":"Application for and distribution of funds","url":"\/22.1-147\/","token":"22.1\/10\/22.1-147","metadata":false},{"id":56494,"structure_id":14751,"section_number":"22.1-148","catch_line":"Restrictions upon making loans; retirement of previous loans; waiting lists","url":"\/22.1-148\/","token":"22.1\/10\/22.1-148","metadata":false},{"id":86924,"structure_id":14751,"section_number":"22.1-149","catch_line":"Additional funds for loans","url":"\/22.1-149\/","token":"22.1\/10\/22.1-149","metadata":false},{"id":74838,"structure_id":14751,"section_number":"22.1-150","catch_line":"Rate of interest","url":"\/22.1-150\/","token":"22.1\/10\/22.1-150","metadata":false},{"id":60513,"structure_id":14751,"section_number":"22.1-151","catch_line":"Evidence of loan","url":"\/22.1-151\/","token":"22.1\/10\/22.1-151","metadata":false},{"id":68977,"structure_id":14751,"section_number":"22.1-152","catch_line":"Payment of principal and interest","url":"\/22.1-152\/","token":"22.1\/10\/22.1-152","metadata":false},{"id":67623,"structure_id":14751,"section_number":"22.1-153","catch_line":"School boards authorized to borrow from Fund; form of application","url":"\/22.1-153\/","token":"22.1\/10\/22.1-153","metadata":false},{"id":69002,"structure_id":14751,"section_number":"22.1-154","catch_line":"Repealed","url":"\/22.1-154\/","token":"22.1\/10\/22.1-154","metadata":false},{"id":85355,"structure_id":14751,"section_number":"22.1-158","catch_line":"Provisions for payment","url":"\/22.1-158\/","token":"22.1\/10\/22.1-158","metadata":false},{"id":57381,"structure_id":14751,"section_number":"22.1-159","catch_line":"Loans for construction of school facilities to serve portions of counties; levy of taxes for purpose of repaying such loans","url":"\/22.1-159\/","token":"22.1\/10\/22.1-159","metadata":false},{"id":81446,"structure_id":14751,"section_number":"22.1-160","catch_line":"School boards authorized to anticipate payment of loans","url":"\/22.1-160\/","token":"22.1\/10\/22.1-160","metadata":false},{"id":57015,"structure_id":14751,"section_number":"22.1-161","catch_line":"Loan declared indebtedness of the county, city or town; lien on locality's funds created","url":"\/22.1-161\/","token":"22.1\/10\/22.1-161","metadata":false}],"previous_section":{"id":73717,"structure_id":14751,"section_number":"22.1-144","catch_line":"Recovery of moneys due Fund","url":"\/22.1-144\/","token":"22.1\/10\/22.1-144","metadata":false},"next_section":{"id":75590,"structure_id":14751,"section_number":"22.1-146","catch_line":"Power of Board to make loans from fund for erection, etc., of school buildings and fueling facilities for school buses","url":"\/22.1-146\/","token":"22.1\/10\/22.1-146","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/22.1-145\/","history_text":"<p>The record of this law\u2019s original creation isn\u2019t available online. It has been modified 3 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1956, chapter 184; in 1980, chapter 559; in 1985, chapter 139.<\/p>","references":[{"id":57272,"section_number":"22.1-142","catch_line":"How Fund constituted; management","order_by":null,"url":"\/22.1-142\/"}],"refers_to":false,"permalink":{"id":181047,"object_type":"law","relational_id":76672,"identifier":"22.1-145","token":"22.1\/10\/22.1-145","url":"\/22.1-145\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/22.1-145\/","token":"22.1\/10\/22.1-145","dublin_core":{"Title":"Investment of Fund","Type":"Text","Format":"text\/html","Identifier":"\u00a7 22.1-145","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>The <span class=\"dictionary\">Board<\/span> of Education shall invest the Literary Fund in securities that are legal investments under the <span class=\"dictionary\">laws<\/span> of the Commonwealth for public funds. The <span class=\"dictionary\">Board<\/span> may call in any such investment and reinvest the same whenever it deems proper for the preservation, security or improvement of the Literary Fund. Whenever the <span class=\"dictionary\">Board<\/span> shall invest in <span class=\"dictionary\">bonds<\/span> of this Commonwealth, no premium shall be required or paid on such investment. All securities for money belonging to the Literary Fund shall be deposited with the State Treasurer for safekeeping, who shall return with his annual report a list thereof with a statement of their value.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nINVESTMENT OF FUND (\u00a7 22.1-145)\n\nThe Board of Education shall invest the Literary Fund in securities that are\nlegal investments under the laws of the Commonwealth for public funds. The Board\nmay call in any such investment and reinvest the same whenever it deems proper\nfor the preservation, security or improvement of the Literary Fund. Whenever the\nBoard shall invest in bonds of this Commonwealth, no premium shall be required\nor paid on such investment. All securities for money belonging to the Literary\nFund shall be deposited with the State Treasurer for safekeeping, who shall\nreturn with his annual report a list thereof with a statement of their value.\n\nHISTORY: Code 1950, \u00a7 22-102; 1956, c. 184; 1971, Ex. Sess., c. 128; 1980, c.\n559; 1985, c. 139.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}