30-231.4 - Brown v. Board of Education Scholarship Program Fund established. - Virginia Statutes

§ 30-231.4. Brown v. Board of Education Scholarship Program Fund established.

There is hereby created in the state treasury a special nonreverting fund tobe known as the Brown v. Board of Education Scholarship Program Fund,hereafter referred to as the "Fund." The Fund shall be established on thebooks of the Comptroller and shall consist of gifts, grants, donations,bequests, or other funds from any source as may be received by the Brown v.Board of Education Scholarship Program or the Brown v. Board of EducationScholarship Committee on behalf of the Program. Moneys shall be paid into thestate treasury and credited to the Fund. Interest earned on moneys in theFund shall remain in the Fund and be credited to it. Any moneys remaining inthe Fund, including interest thereon, at the end of each fiscal year shallnot revert to the general fund but shall remain in the Fund. Moneys in theFund shall be used solely for the purpose of awarding scholarships toeligible students, pursuant to §§ 30-231.2 and 30-231.3. Expenditures anddisbursements for scholarships to eligible students from the Fund shall bemade by the State Treasurer on warrants issued by the Comptroller uponwritten request signed by the Chairman of the State Council of HigherEducation as directed by the Brown v. Board of Education ScholarshipCommittee.

(2005, cc. 753, 834; 2010, c. 579.)