{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/22.1-152.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/22.1-152.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/22.1-152.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/22.1-152.html"}],"law_id":68977,"edition_id":1,"section_id":68977,"structure_id":14751,"section_number":"22.1-152","catch_line":"Payment of principal and interest","history":"Code 1950, \u00a7 22-112; 1954, c. 476; 1958, c. 162; 1980, c. 559.","full_text":"Payments of interest and principal shall be made to the State Treasurer. A loan from the Literary Fund shall be repayable in annual installments from five to thirty years. The time of payment may be extended in the discretion of the Board of Education; but if the Board of Education has assigned any of the bonds, notes or other evidences of the loan to the Board of Trustees of the Virginia Retirement System under the provisions of \u00a7 51.1-124.30 and the same are held by the Board of Trustees of the Virginia Retirement System, the time of payment thereof may not be extended by the Board of Education but may be extended by the Board of Trustees of the Virginia Retirement System, in its discretion.","order_by":null,"text":{"0":{"id":249674,"text":"Payments of interest and principal shall be made to the State Treasurer. A loan from the Literary Fund shall be repayable in annual installments from five to thirty years. The time of payment may be extended in the discretion of the Board of Education; but if the Board of Education has assigned any of the bonds, notes or other evidences of the loan to the Board of Trustees of the Virginia Retirement System under the provisions of \u00a7 51.1-124.30 and the same are held by the Board of Trustees of the Virginia Retirement System, the time of payment thereof may not be extended by the Board of Education but may be extended by the Board of Trustees of the Virginia Retirement System, in its discretion.","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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/22.1-152\/","history_text":"

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 1954, chapter 476; in 1958, chapter 162; in 1980, chapter 559.<\/p>","references":false,"refers_to":[{"id":84073,"section_number":"51.1-124.30","catch_line":"Board as trustee of funds; investments; standard of care; liability for losses","order_by":null,"url":"\/51.1-124.30\/"}],"permalink":{"id":181079,"object_type":"law","relational_id":68977,"identifier":"22.1-152","token":"22.1\/10\/22.1-152","url":"\/22.1-152\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/22.1-152\/","token":"22.1\/10\/22.1-152","dublin_core":{"Title":"Payment of principal and interest","Type":"Text","Format":"text\/html","Identifier":"\u00a7 22.1-152","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Payments of interest and principal shall be made to the State Treasurer. A loan from the Literary Fund shall be repayable in annual installments from five to thirty years. The time of payment may be extended in the discretion of the Board<\/span> of Education; but if the Board<\/span> of Education has assigned any of the bonds<\/span>, notes or other evidences<\/span> of the loan to the Board<\/span> of Trustees of the Virginia Retirement System under the provisions of \u00a7 51.1-124.30<\/a> and the same are held by the Board<\/span> of Trustees of the Virginia Retirement System, the time of payment thereof may not be extended by the Board<\/span> of Education but may be extended by the Board<\/span> of Trustees of the Virginia Retirement System, in its discretion.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPAYMENT OF PRINCIPAL AND INTEREST (\u00a7 22.1-152)\n\nPayments of interest and principal shall be made to the State Treasurer. A loan\nfrom the Literary Fund shall be repayable in annual installments from five to\nthirty years. The time of payment may be extended in the discretion of the Board\nof Education; but if the Board of Education has assigned any of the bonds, notes\nor other evidences of the loan to the Board of Trustees of the Virginia\nRetirement System under the provisions of \u00a7 51.1-124.30 and the same are held\nby the Board of Trustees of the Virginia Retirement System, the time of payment\nthereof may not be extended by the Board of Education but may be extended by the\nBoard of Trustees of the Virginia Retirement System, in its discretion.\n\nHISTORY: Code 1950, \u00a7 22-112; 1954, c. 476; 1958, c. 162; 1980, c. 559.","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}}