63.2-320 - Accepting and expending certain funds on behalf of children placed by or entrusted to local board when no guardian appointed; disposition of funds when children discharged. - Virginia Statutes

§ 63.2-320. Accepting and expending certain funds on behalf of childrenplaced by or entrusted to local board when no guardian appointed; dispositionof funds when children discharged.

A local board is authorized and empowered to accept and expend on behalf ofand for the benefit of any child placed by it where legal custody remainswith the parents or guardians, committed or entrusted to its care under §§63.2-900 and 63.2-903, when no guardian has been appointed, funds or moneypaid or tendered as pension, compensation, insurance or other benefit fromthe Veterans' Administration or under the Railroad Retirement Act or the oldage and survivors' insurance provisions of the Social Security Act, asamended, or funds contributed or paid by parents or other persons for thesupport of such child, and the local board may, from any such funds received,provide for the current or future maintenance of such child.

Whenever any child is discharged by the local board all such funds held bythe local board shall be paid to the child's guardian if such funds exceed$1,000 upon such guardian posting bond as may be required by law, ordisbursed in accordance with § 8.01-606, if the sum does not exceed $1,000.

(Code 1950, § 63-73.1; 1954, c. 224; 1958, c. 239; 1968, c. 578, § 63.1-57;1994, c. 865; 2002, c. 747.)