3.2-3103 - Powers and duties of the Tobacco Indemnification and Community Revitalization Commission. - Virginia Statutes

§ 3.2-3103. Powers and duties of the Tobacco Indemnification and CommunityRevitalization Commission.

A. The Commission shall have the power and duty to:

1. Adopt, use, and alter at will an official seal;

2. Make bylaws for the management and regulation of its affairs;

3. Maintain an office at such place or places within the Commonwealth as itmay designate;

4. Accept, hold, and administer moneys, grants, securities, or other propertytransferred, given, or bequeathed to the Commission, absolutely or in trust,for the purposes for which the Commission is created;

5. Determine how moneys in the Fund are to be distributed and to authorizegrants, loans, or other distributions of moneys in the Fund for the purposesset forth in this chapter;

6. Make and execute contracts and all other instruments and agreementsnecessary or convenient for the exercise of its powers and functions;

7. Invest its funds as provided in this chapter or permitted by applicablelaw; and

8. Do any lawful act necessary or appropriate to carry out the powers hereingranted or reasonably implied, including use of whatever lawful means may benecessary and appropriate to recover any payments wrongfully made from theFund.

B. The Commission shall undertake studies and gather information and data inorder to determine: (i) the economic consequences of the reduction in orelimination of quota for tobacco growers; (ii) the potential for alternativecash crops; and (iii) any other matters the Commission believes will affecttobacco growers in the Commonwealth.

C. The Commission shall submit a report annually to the Governor and theGeneral Assembly.

(1999, cc. 880, 962, §§ 9-383, 9-388; 2001, cc. 807, 844, § 3.1-1109; 2008,c. 860.)