                                 CODE OF VIRGINIA

HOW FUND CONSTITUTED; MANAGEMENT (§ 22.1-142)

There shall be set apart as a permanent and perpetual fund, to be known as the
&#8220;Literary Fund,&#8221; the present Literary Fund of the Commonwealth,
donations to the Literary Fund, sums appropriated to the Literary Fund, all
funds received by the State Treasurer and required to be deposited in the
Literary Fund pursuant to Chapter 25 (§ 55.1-2500 et seq.) of Title 55.1 and
the proceeds of (i) all public lands donated by Congress for public school
purposes, (ii) all escheated property, (iii) all waste and unappropriated lands,
(iv) all property accruing to the Commonwealth by forfeiture except those items
specifically exempted, (v) all fines collected for offenses committed against
the Commonwealth, and (vi) the annual interest on the Literary Fund. The
Literary Fund shall be invested and managed by the Board of Education as
prescribed by § 22.1-145.

HISTORY: Code 1950, § 22-101; 1971, Ex. Sess., c. 128; 1980, c. 559; 2012, cc.
283, 756.