3.2-2304 - Powers and duties of Soybean Board. - Virginia Statutes

§ 3.2-2304. Powers and duties of Soybean Board.

A. The Soybean Board shall have charge of the management and expenditure ofthe Virginia Soybean Fund established in the state treasury.

B. The Soybean Board may expend funds to provide for programs of research,education, publicity, and the promotion of the sale and use of soybeans; tomanage the funds so as to accumulate a reserve for contingencies; toestablish an office and employ such technical, professional, and otherassistants as may be required; and to contract for research, publicity,advertising, and other promotional services.

C. The Soybean Board may establish an executive committee and charge it withpowers, duties, and functions as is deemed proper.

D. The Soybean Board may enter into an agreement with the Federal CommodityCredit Corporation to collect the specified assessment on all soybeanspledged as collateral for a commodity credit corporation price support loanor purchase by the Federal Commodity Credit Corporation under its loan orpurchase program.

E. The chairman of the Soybean Board shall make an annual report to theSoybean Board including a statement of the total receipts and disbursementsfor the year, and shall file a copy of such report with the Commissioner.

(1970, c. 431, § 3.1-684.13; 1974, c. 297; 1978, c. 540; 1985, c. 448; 1987,c. 476; 2008, c. 860.)