§ 3.1-1101. (Repealed effective October 1, 2008) Virginia Cotton Fund created; purpose; revenue-producing activ...
A. The Cotton Board shall establish, administer, manage and make expenditures from a special, nonreverting fund in the state treasury to be known as the Virginia Cotton Fund. The Cotton Board shall establish and administer the Fund solely for the purpose of carrying out the provisions of this chapter. No provision of this chapter shall be construed to give the Cotton Board the authority to expend funds for legislative or political activity. The Fund shall consist of assessments paid pursuant to § 3.1-1098. The unexpended balance of the Fund at the end of the biennium shall not revert to the general fund of the state treasury, but shall remain in the Fund.
B. The Auditor of Public Accounts shall audit all the accounts of the Cotton Board as provided in § 30-133.
C. All money collected under this chapter shall be expended by the Cotton Board by warrants of the State Comptroller on vouchers signed by a duly authorized officer of the Cotton Board.
D. 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 concerning, education on, 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 Virginia Cotton Fund.
(1997, c. 873.)
Sections: Previous 3.1-1089 3.1-1090 3.1-1091 3.1-1092 3.1-1093 3.1-1094 3.1-1095 3.1-1096 3.1-1097 3.1-1098 3.1-1099 3.1-1100 3.1-1101 3.1-1102 3.1-1103 NextLast modified: April 16, 2009