38.2-5018 - Assessments to be held in restricted cash account. - Virginia Statutes

§ 38.2-5018. Assessments to be held in restricted cash account.

All assessments paid pursuant to the plan of operation, shall be held in aseparate restricted cash account under the sole control of an independentfund manager to be selected by the directors. The Fund, and any income fromit, shall be disbursed for the payment of awards as provided in this chapterand for the payment of the expenses of administration of the Fund and theProgram, including the reasonable expenses of the Commission.

(1987, c. 540; 1989, c. 523; 1990, c. 244.)