§ 38.2-5015. Birth-Related Neurological Injury Compensation Fund; assets of the Fund; audit
A. There is established the Birth-Related Neurological Injury Compensation Fund to finance the Virginia Birth-Related Neurological Injury Compensation Program created by this chapter. The assets of the Fund administered by the board of directors of the Program are trust funds and shall be used solely in the interest of the recipients of awards pursuant to § 38.2-5009 and to administer the Program.
B. An independent certified public accountant selected by the board of directors of the Program shall annually audit the accounts of the Fund, and the cost of such audit services shall be borne by the Program and be paid from moneys designated for such purposes in the Fund. The audit shall be performed at least each fiscal year, in accordance with generally accepted auditing standards and, accordingly, include such tests of the accounting records and such auditing procedures as considered necessary under the circumstances. The board of directors shall furnish copies of the audit to the same persons who are entitled to receive copies of the board's report on investment of the Fund's assets.
(1987, c. 540; 1999, c. 826; 2003, c. 897.)
Sections: Previous 38.2-5009 38.2-5009.1 38.2-5010 38.2-5011 38.2-5012 38.2-5013 38.2-5014 38.2-5015 38.2-5016 38.2-5016.1 38.2-5017 38.2-5018 38.2-5019 38.2-5020 38.2-5020.1 NextLast modified: April 16, 2009