Code of Virginia - Title 32.1 Health - Chapter 14 Virginia Tobacco Settlement Foundation

32.1-354 Definitions
As used in this chapter, unless the context clearly indicates otherwise: "Agreement" means the agreement or agreements between the Commonwealth, as seller of the Tobacco ...

32.1-355 Virginia Tobacco Settlement Foundation created; purposes
The Virginia Tobacco Settlement Foundation is hereby created as a body corporate and a political subdivision of the Commonwealth and as such shall have, and ...

32.1-356 Powers of the Foundation
The Foundation is hereby granted all powers necessary or appropriate to carry out and effectuate its corporate purposes, including, without limitation, the following: 1. To ...

32.1-357 Board of Trustees; appointment; officers; quorum; executive committee; compensation and expense...
A. The Foundation shall be governed and administered by a Board of Trustees consisting of 23 members. Two members shall be appointed by the Speaker ...

32.1-358 Appointment of director; counsel to the Board and Foundation
A. Subject to confirmation by the General Assembly, the Governor shall appoint a director, whose compensation shall be determined by the Board, subject to approval ...

32.1-359 Duties of the Board
The Board shall perform the following duties: 1. Establish specific criteria and procedures governing decisions by the Foundation to cause the moneys in the Fund ...

32.1-360 Virginia Tobacco Settlement Fund
There is hereby created in the state treasury a special nonreverting fund to be known as the Virginia Tobacco Settlement Fund. The Fund shall be ...

32.1-361 Use of moneys distributed
Any recipient of any moneys distributed from the Fund pursuant to this chapter for the purpose of restricting the use of tobacco products by minors ...

32.1-361.1 Virginia Tobacco Settlement Foundation Endowment
A. There is hereby established in the state treasury a special fund to be designated the "Virginia Tobacco Settlement Foundation Endowment" (the Endowment). The Endowment ...

32.1-362 Audit
The accounts of the Foundation shall be audited annually by the Auditor of Public Accounts, or his legally authorized representatives. Copies of the annual audit ...

32.1-363 Forms of accounts and records
The accounts and records of the Foundation showing the receipt and disbursement of funds from whatever source derived shall be in such form as the ...

32.1-364 Reports to the Governor and General Assembly
The Foundation shall submit a report no later than March 31 of each year to the Governor and the General Assembly. The report shall include ...

32.1-365 Public purpose; exemption from taxation
A. The exercise of the powers granted by this chapter shall be in all respects for the benefit of the citizens of the Commonwealth and ...