Virginia § 2.2-2207 Moneys received deemed trust funds

Virginia Statutes

§ 2.2-2207 — Moneys received deemed trust funds

Virginia § 2.2-2207

JurisdictionVirginia

Title 2.2ADMINISTRATION OF GOVERNMENT

Subtitle IORGANIZATION OF STATE GOVERNMENT

Ch. 22AUTHORITIES

Art. 2COMMERCIAL SPACE FLIGHT AUTHORITY

Part DSTATE AUTHORITIES, BOARDS, COMMISSIONS, COUNCILS, FOUNDATIONS AND OTHER COLLEGIAL BODIES

This text of Virginia § 2.2-2207 (Moneys received deemed trust funds) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 2.2-2207 (2026).

Text

All moneys received pursuant to the authority of this article, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this article. The resolution authorizing the bonds of any issue or the trust indenture or agreement or resolution securing such bonds shall provide that any officer with whom, or any bank or trust company with which, such moneys shall be deposited shall act as a trustee of such moneys and shall hold and apply the same for the purposes hereof, subject to the regulations as this article and the trust indenture or agreement or resolution may provide.

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All moneys received pursuant to the authority of this article, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this article. The resolution authorizing the bonds of any issue or the trust indenture or agreement or resolution securing such bonds shall provide that any officer with whom, or any bank or trust company with which, such moneys shall be deposited shall act as a trustee of such moneys and shall hold and apply the same for the purposes hereof, subject to the regulations as this article and the trust indenture or agreement or resolution may provide.