§ 58.1-3142. Interest on a fund belongs to the fund; exception
Whenever the treasurer receives interest on funds belonging to the Commonwealth or to any political subdivision thereof, such interest shall become a part of the principal of the particular fund on which such interest accrued and shall be accounted for by the treasurer in the same manner as he is required by law to account for the principal. However, the governing body of any county or city may direct that the interest received from general obligation bond proceeds invested be credited to the general fund of such county or city. Any treasurer violating this section shall be deemed guilty of a Class 1 misdemeanor.
(Code 1950, § 58-930; 1970, c. 582; 1984, c. 675.)
Sections: Previous 58.1-3135 58.1-3136 58.1-3137 58.1-3138 58.1-3139 58.1-3140 58.1-3141 58.1-3142 58.1-3143 58.1-3144 58.1-3145 58.1-3146 58.1-3147 58.1-3148 58.1-3149 NextLast modified: April 3, 2009