46.2-455 - Assessment for expense of holding deposits. - Virginia Statutes

§ 46.2-455. Assessment for expense of holding deposits.

For the purpose of defraying the expense of the safekeeping and handling ofthe cash or securities deposited with him under the provisions of this title,in December of each year the State Treasurer shall levy against each personhaving cash or securities deposited with him an assessment of not more thanone-tenth of one percent of the cash or of the par value of the securitiesdeposited to his account, and shall collect the assessment in January of eachyear. These funds shall be deposited to the general fund of the statetreasury. If any assessment is not paid by January 31 of each year, theState Treasurer shall so notify the Commissioner in writing, attachingthereto a dated copy of the original assessment.

(1986, c. 16, § 46.1-486.1; 1989, c. 727.)