CODE OF VIRGINIA

DISTRIBUTION OF FUNDS (§ 22.1-147)

The Board of Education shall provide for an equitable distribution of the funds
loaned or provided as loan interest rate subsidy payments from the Literary Fund
among the several school divisions. In providing for such equitable
distribution, the Board shall impose a maximum limit of not more than $ 7.5
million on the amount of any loan from the Literary Fund.

HISTORY: Code 1950, § 22-106; 1977, c. 157; 1980, c. 559; 1988, c. 88; 1997, c.
384; 1998, c. 70.