CODE OF VIRGINIA

(EFFECTIVE OCTOBER 1, 2016) MONEYS RECEIVED DEEMED TRUST FUNDS (§ 23.1-1232)

All moneys that the Authority receives pursuant to this article, whether as
proceeds from the sale of bonds or as revenues, are trust funds to be held and
applied solely as provided in this article. Any officer with whom, or any bank
or trust company with which, such moneys are deposited shall act as trustee of
such moneys and shall hold and apply the same for the purposes of this article,
the resolution authorizing the bonds of any issue, or the trust agreement
securing such bonds.

HISTORY: 1972, c. 686, § 23-30.51; 2016, c. 588.