§ 3.2-3103. (Effective October 1, 2008) Powers and duties of the Tobacco Indemnification and Community Revitali...
A. The Commission shall have the power and duty to:
1. Adopt, use, and alter at will an official seal;
2. Make bylaws for the management and regulation of its affairs;
3. Maintain an office at such place or places within the Commonwealth as it may designate;
4. Accept, hold, and administer moneys, grants, securities, or other property transferred, given, or bequeathed to the Commission, absolutely or in trust, for the purposes for which the Commission is created;
5. Determine how moneys in the Fund are to be distributed and to authorize grants, loans, or other distributions of moneys in the Fund for the purposes set forth in this chapter;
6. Make and execute contracts and all other instruments and agreements necessary or convenient for the exercise of its powers and functions;
7. Invest its funds as provided in this chapter or permitted by applicable law; and
8. Do any lawful act necessary or appropriate to carry out the powers herein granted or reasonably implied, including use of whatever lawful means may be necessary and appropriate to recover any payments wrongfully made from the Fund.
B. The Commission shall undertake studies and gather information and data in order to determine: (i) the economic consequences of the reduction in or elimination of quota for tobacco growers; (ii) the potential for alternative cash crops; and (iii) any other matters the Commission believes will affect tobacco growers in the Commonwealth.
C. The Commission shall submit a report annually to the Governor and the General Assembly.
(1999, cc. 880, 962, §§ 9-383, 9-388; 2001, cc. 807, 844, § 3.1-1109; 2008, c. 860.)
Sections: Previous 3.2-3100 3.2-3101 3.2-3102 3.2-3103 3.2-3104 3.2-3105 3.2-3106 3.2-3107 3.2-3108 3.2-3109 3.2-3110 3.2-3111 NextLast modified: April 16, 2009