Code of Virginia - Title 23 Educational Institutions - Chapter 4.9 Virginia College Savings Plan

23-38.75 Definitions
As used in this chapter, unless the context requires a different meaning: "Board" means the Board of the Virginia College Savings Plan. "Contributor" means a ...

23-38.76 Virginia College Savings Plan established; governing board; terms
A. To enhance the accessibility and affordability of higher education for all citizens of the Commonwealth, there is hereby established as an independent agency of ...

23-38.77 Powers and duties of Board
The Board shall administer the Plan established by this chapter and shall develop and implement programs for (i) the prepayment of undergraduate tuition, as defined ...

23-38.78 Board actions not a debt of Commonwealth
A. No act or undertaking of the Board shall be deemed to constitute a debt of the Commonwealth or any political subdivision thereof, or a ...

23-38.79 Executive director; staff support
The Board shall employ an executive director, who shall be authorized to employ such staff as necessary to enable the Board to perform its duties ...

23-38.80 Standard of care; investment and administration of Plan
A. In acquiring, investing, reinvesting, exchanging, retaining, selling, and managing property for the benefit of the Plan, the Board, and any person, investment manager, or ...

23-38.81 Prepaid tuition contracts and savings trust agreements; terms; termination; etc
A. Each prepaid tuition contract made pursuant to this chapter shall include the following terms and provisions: 1. The amount of payment or payments and ...

23-38.82 Description unavailable
Repealed by Acts 1997, cc. 785 and 861. ...

23-38.83 Plan property tax exempt
The assets of the Plan and its income shall be exempt from state and local taxation. (1994, c. 661; 2000, cc. 382, 400.) ...

23-38.84 Annual report
The Board shall submit an annual statement on or before December 15 of the receipts, disbursements, and current investments of the Plan for the preceding ...

23-38.85 Forms of accounts and records; audit of same
The accounts and records of the Board showing the receipt and disbursement of funds from whatever source derived shall be in such form as the ...

23-38.86 Admission to institutions not guaranteed
Nothing in this chapter nor in any prepaid tuition contract or savings trust agreement shall be construed as a promise or guarantee by the Board ...

23-38.87 Payroll deductions
The Commonwealth and its agencies and municipalities and any employer in the Commonwealth are authorized to agree, by contract or otherwise, to remit payments or ...