                                 CODE OF VIRGINIA

VIRGINIA COTTON FUND ESTABLISHED (§ 3.2-1511)

There is hereby created in the state treasury a special nonreverting fund to be
known as the Virginia Cotton Fund, hereafter referred to as &#8220;the
Fund.&#8221; The Fund shall be established on the books of the Comptroller. All
assessments paid pursuant to § 3.2-1512 shall be paid into the state treasury
and credited to the Fund.
		The Cotton Board, to help defray the costs of Cotton Board programs, may sell
printed materials, rent exhibit space at meetings, and engage in any
revenue-producing activity related to research, education, and promotion of the
growth and use of cotton. The Cotton Board shall promptly pay the proceeds of
any such revenue-producing activities into the Fund.
		Interest earned on moneys in the Fund shall remain in the Fund and be credited
to it. Any moneys remaining in the Fund, including interest thereon, at the end
of each fiscal year shall not revert to the general fund but shall remain in the
Fund. Moneys in the Fund shall be used solely for the purpose of carrying out
the provisions of this chapter. Expenditures and disbursements from the Fund
shall be made by the Cotton Board on warrants issued by the Comptroller upon
written request signed by a duly authorized officer of the Cotton Board.
		The Auditor of Public Accounts shall audit all the accounts of the Cotton
Board as provided in § 30-133.

HISTORY: 1997, c. 873, § 3.1-1101; 2008, c. 860.