55-529 - Common Interest Community Management Information Fund. - Virginia Statutes

§ 55-529. Common Interest Community Management Information Fund.

There is hereby created the Common Interest Community Management InformationFund to be used in the discretion of the Board to promote the improvement andmore efficient operation of common interest communities through research andeducation. The Fund shall consist of money paid into it pursuant to §§54.1-2349, 55-79.93:1, 55-504.1, and 55-516.1. The Fund shall be establishedon the books of the Comptroller, and any funds remaining in such Fund at theend of the biennium shall not revert to the general fund but, at thediscretion of the Board, shall remain in the Fund or shall be transferred tothe Common Interest Community Management Recovery Fund established pursuantto § 55-530.1. Interest earned on the Fund shall be credited to the Fund.

(1993, c. 958; 2008, cc. 851, 871.)