3.2-1404 - Powers and duties of Corn Board. - Virginia Statutes

§ 3.2-1404. Powers and duties of Corn Board.

A. The Corn Board shall have charge of the management and expenditure of theVirginia Corn Fund established in the state treasury.

B. The Corn Board may expend funds to provide for programs of marketdevelopment, education, publicity, research, and the promotion of the saleand use of corn; to manage the funds so as to accumulate a reserve forcontingencies; to establish an office and employ such technical,professional, and other assistants as may be required; and to contract formarket development, publicity, research, advertising, and other promotionalservices.

C. The Corn Board may establish an executive committee and charge it withsuch powers, duties, and functions as is deemed proper.

D. The Corn Board may enter into an agreement with the Federal CommodityCredit Corporation to collect the specified assessment on all corn pledged ascollateral for a commodity credit corporation price support loan or purchaseby the Federal Commodity Credit Corporation under its loan or purchaseprograms.

E. The chairman of the Corn Board shall make an annual report to the CornBoard, including a statement of the total receipts and disbursements for theyear, and shall file a copy of the report with the Commissioner.

(1980, c. 395, § 3.1-1043; 1985, c. 448; 1987, c. 476; 2008, c. 860.)