Source: https://vacode.org/4.1-116/
Timestamp: 2020-07-10 19:42:04
Document Index: 329882104

Matched Legal Cases: ['§ 4', '§ 4', '§ 4', '§ 2', '§ 4', '§ 4', '§ 4']

Disposition of moneys collected by Board; creation of Enterprise Fund; reserve fund (§ 4.1-116)—Virginia Decoded - Virginia Decoded
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§ 4.1-116 Disposition of moneys collected by Board; creation . . .
§ 4.1-116
Disposition of moneys collected by Board; creation of Enterprise Fund; reserve fund
A. All moneys collected by the Board shall be paid directly and promptly into the state treasury, or shall be deposited to the credit of the State Treasurer in a state depository, without any deductions on account of salaries, fees, costs, charges, expenses, refunds or claims of any description whatever, as required by § 2.2-1802.All moneys so paid into the state treasury, less the net profits determined pursuant to subsection C, shall be set aside as and constitute an Enterprise Fund, subject to appropriation, for the payment of (i) the salaries and remuneration of the members, agents, and employees of the Board and (ii) all costs and expenses incurred in establishing and maintaining government stores and in the administration of the provisions of this title, including the purchasing, building, leasing and operation of distilleries and the manufacture of alcoholic beverages.
B. The net profits derived under the provisions of this title shall be transferred by the Comptroller to the general fund of the state treasury quarterly, within fifty days after the close of each quarter or as otherwise provided in the appropriation act. As allowed by the Governor, the Board may deduct from the net profits quarterly a sum for the creation of a reserve fund not exceeding the sum of $ 2.5 million in connection with the administration of this title and to provide for the depreciation on the buildings, plants and equipment owned, held or operated by the Board.
C. The term “net profits” as used in this section means the total of all moneys collected by the Board less all costs, expenses and charges authorized by this section.
Code 1950, §§ 4-22, 4-23; 1960, c. 104; 1962, c. 385; 1964, c. 215; 1966, c. 431; 1968, c. 623; 1970, c. 727; 1972, cc. 138, 849; 1973, c. 349; 1974, c. 460; 1981, c. 514; 1982, c. 540; 1983, c. 427; 1984, c. 105; 1985, c. 222; 1993, c. 866.
If you’re reading this for anything important, you should double-check its accuracy—read § 4.1-116 on the official Code of Virginia website.
Hurdle v. Prinz (SCV, 06/10/77)
. . . from the time when the right accrued." . . .
Nancy Darlene Keene v. Aircap Industries Corporation (Court of Appeals for the Fourth Circuit, 07/05/95)
. . . and pinch point of the belt and pulley located 4 1/16 inches below and 2 1/4 inches inboard of the . . .
HB696: Substance Abuse Treatment Fund; created. (failed)
HB509: Alcoholic beverage control; disposition of net profits. (failed)
§ 4.1-101.06 (Effective July 1, 2018) Moneys of Authority