                                 CODE OF VIRGINIA

INVESTMENT OF FUND (§ 22.1-145)

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.

HISTORY: Code 1950, § 22-102; 1956, c. 184; 1971, Ex. Sess., c. 128; 1980, c.
559; 1985, c. 139.