{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/4.1-116.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/4.1-116.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/4.1-116.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/4.1-116.html"}],"law_id":59758,"edition_id":1,"section_id":59758,"structure_id":13259,"section_number":"4.1-116","catch_line":"Disposition of moneys collected by Board; creation of Enterprise Fund; reserve fund","history":"Code 1950, \u00a7\u00a7 4-22, 4-23; 1960, c. 104; 1962, c. 385; 1964, c. 215; 1966, c. 431; 1968, c. 623; 1970, c. 727; 1972, cc. 138, 849; 1973, c. 349; 1974, c. 460; 1981, c. 514; 1982, c. 540; 1983, c. 427; 1984, c. 105; 1985, c. 222; 1993, c. 866.","full_text":"A\n\nAll moneys collected by the Board shall be paid directly and promptly into the state treasury, or shall be deposited to the credit of the State Treasurer in a state depository, without any deductions on account of salaries, fees, costs, charges, expenses, refunds or claims of any description whatever, as required by &#xA7; 2.2-1802.\n\t\t\tAll moneys so paid into the state treasury, less the net profits determined pursuant to subsection C, shall be set aside as and constitute an Enterprise Fund, subject to appropriation, for the payment of (i) the salaries and remuneration of the members, agents, and employees of the Board and (ii) all costs and expenses incurred in establishing and maintaining government stores and in the administration of the provisions of this subtitle, including the purchasing, building, leasing and operation of distilleries and the manufacture of alcoholic beverages.B\n\nThe net profits derived under the provisions of this subtitle shall be transferred by the Comptroller to the general fund of the state treasury quarterly, within fifty days after the close of each quarter or as otherwise provided in the appropriation act. As allowed by the Governor, the Board may deduct from the net profits quarterly a sum for the creation of a reserve fund not exceeding the sum of $2.5 million in connection with the administration of this subtitle and to provide for the depreciation on the buildings, plants and equipment owned, held or operated by the Board.C\n\nThe term &#8220;net profits&#8221; as used in this section means the total of all moneys collected by the Board less all costs, expenses and charges authorized by this section.","order_by":null,"text":{"0":{"id":218835,"text":"All moneys collected by the Board shall be paid directly and promptly into the state treasury, or shall be deposited to the credit of the State Treasurer in a state depository, without any deductions on account of salaries, fees, costs, charges, expenses, refunds or claims of any description whatever, as required by &#xA7; 2.2-1802.\n\t\t\tAll moneys so paid into the state treasury, less the net profits determined pursuant to subsection C, shall be set aside as and constitute an Enterprise Fund, subject to appropriation, for the payment of (i) the salaries and remuneration of the members, agents, and employees of the Board and (ii) all costs and expenses incurred in establishing and maintaining government stores and in the administration of the provisions of this subtitle, including the purchasing, building, leasing and operation of distilleries and the manufacture of alcoholic beverages.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":218836,"text":"The net profits derived under the provisions of this subtitle shall be transferred by the Comptroller to the general fund of the state treasury quarterly, within fifty days after the close of each quarter or as otherwise provided in the appropriation act. As allowed by the Governor, the Board may deduct from the net profits quarterly a sum for the creation of a reserve fund not exceeding the sum of $2.5 million in connection with the administration of this subtitle and to provide for the depreciation on the buildings, plants and equipment owned, held or operated by the Board.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":218837,"text":"The term &#8220;net profits&#8221; as used in this section means the total of all moneys collected by the Board less all costs, expenses and charges authorized by this section.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":13259,"edition_id":1,"name":"Definitions and General Provisions","identifier":"1","label":"chapter","depth":3,"order_by":1,"parent_id":13130,"metadata":{},"date_created":"2026-06-26 03:44:31","date_modified":"2026-06-26 03:44:31","permalink":{"id":218573,"object_type":"structure","relational_id":13259,"identifier":"1","token":"4.1\/I\/1","url":"\/4.1\/I\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13130,"edition_id":1,"name":"Alcoholic Beverage Control Act","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":13129,"metadata":{},"date_created":"2026-06-26 03:44:19","date_modified":"2026-06-26 03:44:19","permalink":{"id":218571,"object_type":"structure","relational_id":13130,"identifier":"I","token":"4.1\/I","url":"\/4.1\/I\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13129,"edition_id":1,"name":"Alcoholic Beverage and Cannabis Control","identifier":"4.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:19","date_modified":"2026-06-26 03:44:19","permalink":{"id":218569,"object_type":"structure","relational_id":13129,"identifier":"4.1","token":"4.1","url":"\/4.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":55602,"structure_id":13259,"section_number":"4.1-100","catch_line":"Definitions","url":"\/4.1-100\/","token":"4.1\/I\/1\/4.1-100","metadata":false},{"id":54605,"structure_id":13259,"section_number":"4.1-101","catch_line":"Virginia Alcoholic Beverage Control Authority created; public purpose","url":"\/4.1-101\/","token":"4.1\/I\/1\/4.1-101","metadata":false},{"id":66649,"structure_id":13259,"section_number":"4.1-101.01","catch_line":"Board of Directors; membership; terms; compensation","url":"\/4.1-101.01\/","token":"4.1\/I\/1\/4.1-101.01","metadata":false},{"id":84894,"structure_id":13259,"section_number":"4.1-101.010","catch_line":"Exemption of Authority from personnel and procurement procedures; information systems; etc","url":"\/4.1-101.010\/","token":"4.1\/I\/1\/4.1-101.010","metadata":false},{"id":57706,"structure_id":13259,"section_number":"4.1-101.011","catch_line":"Reversion to the Commonwealth","url":"\/4.1-101.011\/","token":"4.1\/I\/1\/4.1-101.011","metadata":false},{"id":75389,"structure_id":13259,"section_number":"4.1-101.02","catch_line":"Appointment, salary, and powers of Chief Executive Officer; appointment of confidential assistant to the Chief Executive Officer","url":"\/4.1-101.02\/","token":"4.1\/I\/1\/4.1-101.02","metadata":false},{"id":80581,"structure_id":13259,"section_number":"4.1-101.03","catch_line":"Background investigations of Board members and Chief Executive Officer","url":"\/4.1-101.03\/","token":"4.1\/I\/1\/4.1-101.03","metadata":false},{"id":74090,"structure_id":13259,"section_number":"4.1-101.04","catch_line":"Financial interests of Board, employees, and family members prohibited","url":"\/4.1-101.04\/","token":"4.1\/I\/1\/4.1-101.04","metadata":false},{"id":70232,"structure_id":13259,"section_number":"4.1-101.05","catch_line":"Employees of the Authority","url":"\/4.1-101.05\/","token":"4.1\/I\/1\/4.1-101.05","metadata":false},{"id":85741,"structure_id":13259,"section_number":"4.1-101.06","catch_line":"Moneys of Authority","url":"\/4.1-101.06\/","token":"4.1\/I\/1\/4.1-101.06","metadata":false},{"id":57800,"structure_id":13259,"section_number":"4.1-101.07","catch_line":"Forms of accounts and records; audit; annual report","url":"\/4.1-101.07\/","token":"4.1\/I\/1\/4.1-101.07","metadata":false},{"id":83425,"structure_id":13259,"section_number":"4.1-101.08","catch_line":"Leases of property","url":"\/4.1-101.08\/","token":"4.1\/I\/1\/4.1-101.08","metadata":false},{"id":79173,"structure_id":13259,"section_number":"4.1-101.09","catch_line":"Exemptions from taxes or assessments","url":"\/4.1-101.09\/","token":"4.1\/I\/1\/4.1-101.09","metadata":false},{"id":59656,"structure_id":13259,"section_number":"4.1-101.1","catch_line":"Certified mail; subsequent mail or notices may be sent by regular mail; electronic communications as alternative to regular mail; limitation","url":"\/4.1-101.1\/","token":"4.1\/I\/1\/4.1-101.1","metadata":false},{"id":77392,"structure_id":13259,"section_number":"4.1-102","catch_line":"Repealed","url":"\/4.1-102\/","token":"4.1\/I\/1\/4.1-102","metadata":false},{"id":67902,"structure_id":13259,"section_number":"4.1-103","catch_line":"General powers of Board","url":"\/4.1-103\/","token":"4.1\/I\/1\/4.1-103","metadata":false},{"id":75212,"structure_id":13259,"section_number":"4.1-103.01","catch_line":"Additional powers; access to certain tobacco sales records; inspections; penalty","url":"\/4.1-103.01\/","token":"4.1\/I\/1\/4.1-103.01","metadata":false},{"id":73215,"structure_id":13259,"section_number":"4.1-103.02","catch_line":"Additional powers; substance abuse prevention; Virginia Institutions of Higher Education Substance Use Advisory Committee established","url":"\/4.1-103.02\/","token":"4.1\/I\/1\/4.1-103.02","metadata":false},{"id":61167,"structure_id":13259,"section_number":"4.1-103.03","catch_line":"Additional powers; mediation; alternative dispute resolution; confidentiality","url":"\/4.1-103.03\/","token":"4.1\/I\/1\/4.1-103.03","metadata":false},{"id":64998,"structure_id":13259,"section_number":"4.1-103.1","catch_line":"Criminal history records check required on certain employees; reimbursement of costs","url":"\/4.1-103.1\/","token":"4.1\/I\/1\/4.1-103.1","metadata":false},{"id":69388,"structure_id":13259,"section_number":"4.1-104","catch_line":"Purchases by the Board","url":"\/4.1-104\/","token":"4.1\/I\/1\/4.1-104","metadata":false},{"id":86288,"structure_id":13259,"section_number":"4.1-105","catch_line":"Police power of members, agents and employees of Board","url":"\/4.1-105\/","token":"4.1\/I\/1\/4.1-105","metadata":false},{"id":72518,"structure_id":13259,"section_number":"4.1-106","catch_line":"Liability of Board members; suits by and against Board","url":"\/4.1-106\/","token":"4.1\/I\/1\/4.1-106","metadata":false},{"id":54256,"structure_id":13259,"section_number":"4.1-107","catch_line":"Counsel for members, agents and employees of Board","url":"\/4.1-107\/","token":"4.1\/I\/1\/4.1-107","metadata":false},{"id":74236,"structure_id":13259,"section_number":"4.1-108","catch_line":"Hearings; representation by counsel","url":"\/4.1-108\/","token":"4.1\/I\/1\/4.1-108","metadata":false},{"id":65831,"structure_id":13259,"section_number":"4.1-109","catch_line":"Hearings; allowances to witnesses","url":"\/4.1-109\/","token":"4.1\/I\/1\/4.1-109","metadata":false},{"id":83427,"structure_id":13259,"section_number":"4.1-110","catch_line":"Purchase orders of Board for alcoholic beverages","url":"\/4.1-110\/","token":"4.1\/I\/1\/4.1-110","metadata":false},{"id":67886,"structure_id":13259,"section_number":"4.1-111","catch_line":"Regulations of Board","url":"\/4.1-111\/","token":"4.1\/I\/1\/4.1-111","metadata":false},{"id":83178,"structure_id":13259,"section_number":"4.1-112","catch_line":"Regulations relating to transportation of beer and wine coolers","url":"\/4.1-112\/","token":"4.1\/I\/1\/4.1-112","metadata":false},{"id":73820,"structure_id":13259,"section_number":"4.1-112.1","catch_line":"Repealed","url":"\/4.1-112.1\/","token":"4.1\/I\/1\/4.1-112.1","metadata":false},{"id":73363,"structure_id":13259,"section_number":"4.1-112.2","catch_line":"Outdoor advertising; limitations; variances; compliance with Title 33.2","url":"\/4.1-112.2\/","token":"4.1\/I\/1\/4.1-112.2","metadata":false},{"id":84178,"structure_id":13259,"section_number":"4.1-113","catch_line":"Board not to regulate certain advertising in the interiors of retail establishments","url":"\/4.1-113\/","token":"4.1\/I\/1\/4.1-113","metadata":false},{"id":85335,"structure_id":13259,"section_number":"4.1-113.1","catch_line":"Outdoor advertising; compliance with Title 33.2","url":"\/4.1-113.1\/","token":"4.1\/I\/1\/4.1-113.1","metadata":false},{"id":81493,"structure_id":13259,"section_number":"4.1-114","catch_line":"Annual review of operations of certain mixed beverage licensees","url":"\/4.1-114\/","token":"4.1\/I\/1\/4.1-114","metadata":false},{"id":68919,"structure_id":13259,"section_number":"4.1-115","catch_line":"Reports and accounting systems of Board; auditing books and records","url":"\/4.1-115\/","token":"4.1\/I\/1\/4.1-115","metadata":false},{"id":59758,"structure_id":13259,"section_number":"4.1-116","catch_line":"Disposition of moneys collected by Board; creation of Enterprise Fund; reserve fund","url":"\/4.1-116\/","token":"4.1\/I\/1\/4.1-116","metadata":false},{"id":65028,"structure_id":13259,"section_number":"4.1-117","catch_line":"Disposition of net profits to localities","url":"\/4.1-117\/","token":"4.1\/I\/1\/4.1-117","metadata":false},{"id":80535,"structure_id":13259,"section_number":"4.1-118","catch_line":"Certain information not to be made public","url":"\/4.1-118\/","token":"4.1\/I\/1\/4.1-118","metadata":false},{"id":77346,"structure_id":13259,"section_number":"4.1-119","catch_line":"Operation of government stores","url":"\/4.1-119\/","token":"4.1\/I\/1\/4.1-119","metadata":false},{"id":76836,"structure_id":13259,"section_number":"4.1-119.1","catch_line":"Human trafficking hotline; posted notice required","url":"\/4.1-119.1\/","token":"4.1\/I\/1\/4.1-119.1","metadata":false},{"id":59854,"structure_id":13259,"section_number":"4.1-120","catch_line":"When government stores closed","url":"\/4.1-120\/","token":"4.1\/I\/1\/4.1-120","metadata":false},{"id":67331,"structure_id":13259,"section_number":"4.1-121","catch_line":"Referendum on establishment of government stores","url":"\/4.1-121\/","token":"4.1\/I\/1\/4.1-121","metadata":false},{"id":82996,"structure_id":13259,"section_number":"4.1-122","catch_line":"Effect of local option referenda","url":"\/4.1-122\/","token":"4.1\/I\/1\/4.1-122","metadata":false},{"id":82559,"structure_id":13259,"section_number":"4.1-123","catch_line":"Referendum on Sunday wine and beer sales; exception","url":"\/4.1-123\/","token":"4.1\/I\/1\/4.1-123","metadata":false},{"id":70468,"structure_id":13259,"section_number":"4.1-124","catch_line":"Referendum on the sale of mixed beverages","url":"\/4.1-124\/","token":"4.1\/I\/1\/4.1-124","metadata":false},{"id":73204,"structure_id":13259,"section_number":"4.1-125","catch_line":"Section 4.1-124 applicable to certain towns","url":"\/4.1-125\/","token":"4.1\/I\/1\/4.1-125","metadata":false},{"id":55386,"structure_id":13259,"section_number":"4.1-126","catch_line":"Repealed","url":"\/4.1-126\/","token":"4.1\/I\/1\/4.1-126","metadata":false},{"id":86921,"structure_id":13259,"section_number":"4.1-127","catch_line":"Contests of local option referenda","url":"\/4.1-127\/","token":"4.1\/I\/1\/4.1-127","metadata":false},{"id":76354,"structure_id":13259,"section_number":"4.1-128","catch_line":"Local ordinances or resolutions regulating or taxing alcoholic beverages","url":"\/4.1-128\/","token":"4.1\/I\/1\/4.1-128","metadata":false},{"id":58360,"structure_id":13259,"section_number":"4.1-129","catch_line":"Local ordinances regulating time of sale of wine and beer","url":"\/4.1-129\/","token":"4.1\/I\/1\/4.1-129","metadata":false},{"id":69875,"structure_id":13259,"section_number":"4.1-130","catch_line":"Importation of beverages not under customs or internal revenue bonds; storage in approved warehouses; release","url":"\/4.1-130\/","token":"4.1\/I\/1\/4.1-130","metadata":false},{"id":61322,"structure_id":13259,"section_number":"4.1-131","catch_line":"Importation of beverages under customs bonds and holding in warehouses; release","url":"\/4.1-131\/","token":"4.1\/I\/1\/4.1-131","metadata":false},{"id":85843,"structure_id":13259,"section_number":"4.1-132","catch_line":"Transportation into or within Commonwealth under internal revenue bond and holding in warehouses; release","url":"\/4.1-132\/","token":"4.1\/I\/1\/4.1-132","metadata":false},{"id":77909,"structure_id":13259,"section_number":"4.1-133","catch_line":"Bailment system of warehousing; prohibited fees and charges","url":"\/4.1-133\/","token":"4.1\/I\/1\/4.1-133","metadata":false}],"previous_section":{"id":68919,"structure_id":13259,"section_number":"4.1-115","catch_line":"Reports and accounting systems of Board; auditing books and records","url":"\/4.1-115\/","token":"4.1\/I\/1\/4.1-115","metadata":false},"next_section":{"id":65028,"structure_id":13259,"section_number":"4.1-117","catch_line":"Disposition of net profits to localities","url":"\/4.1-117\/","token":"4.1\/I\/1\/4.1-117","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/4.1-116\/","history_text":"<p>The record of this law\u2019s original creation isn\u2019t available online. It has been modified 15 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 1960, chapter 104; in 1962, chapter 385; in 1964, chapter 215; in 1966, chapter 431; in 1968, chapter 623; in 1970, chapter 727; in 1972, chapters 138 and 849; in 1973, chapter 349; in 1974, chapter 460; in 1981, chapter 514; in 1982, chapter 540; in 1983, chapter 427; in 1984, chapter 105; in 1985, chapter 222; in 1993, chapter 866.<\/p>","references":[{"id":76092,"section_number":"38.2-401","catch_line":"(Effective July 1, 2026) Fire Programs Fund","order_by":null,"url":"\/38.2-401\/"},{"id":85741,"section_number":"4.1-101.06","catch_line":"Moneys of Authority","order_by":null,"url":"\/4.1-101.06\/"},{"id":77346,"section_number":"4.1-119","catch_line":"Operation of government stores","order_by":null,"url":"\/4.1-119\/"},{"id":81449,"section_number":"4.1-232","catch_line":"Refund of state license tax","order_by":null,"url":"\/4.1-232\/"},{"id":57122,"section_number":"4.1-235","catch_line":"Collection; computation, distribution of tax on wine and other alcoholic beverages; refunds and adjustments","order_by":null,"url":"\/4.1-235\/"}],"refers_to":[{"id":70133,"section_number":"2.2-1802","catch_line":"Payment of state funds into state treasury; deposits in state depositories; credit of fund not paid into general fund; exceptions as to endowments and gifts to institutions; appropriations by federal government","order_by":null,"url":"\/2.2-1802\/"}],"permalink":{"id":218715,"object_type":"law","relational_id":59758,"identifier":"4.1-116","token":"4.1\/I\/1\/4.1-116","url":"\/4.1-116\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/4.1-116\/","token":"4.1\/I\/1\/4.1-116","dublin_core":{"Title":"Disposition of moneys collected by Board; creation of Enterprise Fund; reserve fund","Type":"Text","Format":"text\/html","Identifier":"\u00a7 4.1-116","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section id=\"A\"><p><span class=\"prefix-number\">A.<\/span> All moneys collected by the <span class=\"dictionary\">Board<\/span> shall be paid directly and promptly into the state treasury, or shall be deposited to the credit of the State Treasurer in a state depository, without any deductions on account of salaries, fees, costs, charges, expenses, refunds or claims of any description whatever, as required by &#xA7; <a class=\"law\" title=\"Payment of state funds into state treasury; deposits in state depositories; credit of fund not paid into general fund; exceptions as to endowments and gifts to institutions; appropriations by federal government\" href=\"\/2.2-1802\/\">2.2-1802<\/a>.\n\t\t\tAll moneys so paid into the state treasury, less the <span class=\"dictionary\">net profits<\/span> determined pursuant to subsection C, shall be set aside as and constitute an Enterprise Fund, subject to appropriation, for the payment of (i) the salaries and remuneration of the members, agents, and employees of the <span class=\"dictionary\">Board<\/span> and (ii) all costs and expenses incurred in establishing and maintaining <span class=\"dictionary\">government stores<\/span> and in the administration of the provisions of this subtitle, including the purchasing, building, leasing and operation of distilleries and the manufacture of <span class=\"dictionary\">alcoholic beverages<\/span>. <a id=\"paragraph-218835\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/4.1-116\/#A\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B\"><p><span class=\"prefix-number\">B.<\/span> The <span class=\"dictionary\">net profits<\/span> derived under the provisions of this subtitle shall be transferred by the Comptroller to the general fund of the state treasury quarterly, within fifty days after the close of each quarter or as otherwise provided in the appropriation act. As allowed by the Governor, the <span class=\"dictionary\">Board<\/span> may deduct from the <span class=\"dictionary\">net profits<\/span> quarterly a sum for the creation of a reserve fund not exceeding the sum of $2.5 million in connection with the administration of this subtitle and to provide for the depreciation on the buildings, plants and equipment owned, held or operated by the <span class=\"dictionary\">Board<\/span>. <a id=\"paragraph-218836\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/4.1-116\/#B\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"C\"><p><span class=\"prefix-number\">C.<\/span> The term &#8220;<span class=\"dictionary\">net profits<\/span>&#8221; as used in this section means the total of all moneys collected by the <span class=\"dictionary\">Board<\/span> less all costs, expenses and charges authorized by this section. <a id=\"paragraph-218837\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/4.1-116\/#C\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nDISPOSITION OF MONEYS COLLECTED BY BOARD; CREATION OF ENTERPRISE FUND; RESERVE\nFUND (\u00a7 4.1-116)\n\nA. All moneys collected by the Board shall be paid directly and promptly into\nthe state treasury, or shall be deposited to the credit of the State Treasurer\nin a state depository, without any deductions on account of salaries, fees,\ncosts, charges, expenses, refunds or claims of any description whatever, as\nrequired by &#xA7; 2.2-1802.\n\t\t\tAll moneys so paid into the state treasury, less the net profits determined\npursuant to subsection C, shall be set aside as and constitute an Enterprise\nFund, subject to appropriation, for the payment of (i) the salaries and\nremuneration of the members, agents, and employees of the Board and (ii) all\ncosts and expenses incurred in establishing and maintaining government stores\nand in the administration of the provisions of this subtitle, including the\npurchasing, building, leasing and operation of distilleries and the manufacture\nof alcoholic beverages.\n\nB. The net profits derived under the provisions of this subtitle shall be\ntransferred by the Comptroller to the general fund of the state treasury\nquarterly, within fifty days after the close of each quarter or as otherwise\nprovided in the appropriation act. As allowed by the Governor, the Board may\ndeduct from the net profits quarterly a sum for the creation of a reserve fund\nnot exceeding the sum of $2.5 million in connection with the administration of\nthis subtitle and to provide for the depreciation on the buildings, plants and\nequipment owned, held or operated by the Board.\n\nC. The term &#8220;net profits&#8221; as used in this section means the total of\nall moneys collected by the Board less all costs, expenses and charges\nauthorized by this section.\n\nHISTORY: Code 1950, \u00a7\u00a7 4-22, 4-23; 1960, c. 104; 1962, c. 385; 1964, c. 215;\n1966, c. 431; 1968, c. 623; 1970, c. 727; 1972, cc. 138, 849; 1973, c. 349;\n1974, c. 460; 1981, c. 514; 1982, c. 540; 1983, c. 427; 1984, c. 105; 1985, c.\n222; 1993, c. 866.","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}}