53.1-44 - Investment of funds belonging to prisoners; use of income. - Virginia Statutes

§ 53.1-44. Investment of funds belonging to prisoners; use of income.

Portions of the funds held by the Director or by any state correctionalfacility, which belong to prisoners may, in the discretion of the Director,be invested in bonds of the Commonwealth of Virginia or of the United Statesor in federally-insured investments. In determining how to invest the funds,the Director shall balance any long-term investments with those which permitready accessibility to the funds. Any income or increment of increasereceived from the bonds or investments may be used by the Director for thebenefit of the prisoners under his care.

(Code 1950, § 53-223; 1970, c. 648; 1982, c. 636.)