                                 CODE OF VIRGINIA

RECOVERY OF MONEYS DUE FUND (§ 22.1-144)

Any funds which ought to be paid into the State Treasury to the credit of the
Literary Fund shall, unless otherwise provided, be recoverable with interest.
Proceedings to recover such funds shall be instituted by the Board of Education
in the name of the Commonwealth in the appropriate circuit court.
		The Board may appoint agents for the collection of its debts or claims and
authorize them to secure payment thereof on such terms as it may approve.
		When the estate of any person that is taken under execution or that is for
sale under any decree or deed of trust for any debt or claim due the Literary
Fund or for any fine will not sell for the amount of such debt, claim or fine,
such agent may, under the direction of the Board as to the price, purchase such
estate for the Board. He shall immediately report to it every such purchase and
the terms thereof. The Board may sell, or appoint an agent to sell, any estate
so purchased. Such agent shall sell at such time and on such terms as the Board
may authorize. The Board shall take bond from such agent if any money is to come
into his hands. Any agent selling land under this section shall, when directed
so to do by the Board, execute a deed, with the resolution giving such direction
thereto annexed, conveying to the purchaser all the interest which the Board may
have in such land. For the service of any agent under this section, the Board
may allow compensation, not exceeding in any case ten per centum of the money
actually paid into the State Treasury.

HISTORY: Code 1950, § 22-104; 1980, c. 559.