{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/15.2-5359.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/15.2-5359.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/15.2-5359.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/15.2-5359.html"}],"law_id":348721,"edition_id":2,"section_id":348721,"structure_id":50000,"section_number":"15.2-5359","catch_line":"Moneys received deemed trust funds","history":"Code 1950, \u00a7 32-271.3; 1973, c. 462, \u00a7 15.1-1594; 1979, c. 719; 1997, c. 587.","full_text":"All moneys received pursuant to the provisions of this chapter, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this chapter. 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 hereof, subject to the provisions of this chapter and the resolution authorizing the issuance of such bonds or the trust indenture securing the same.\n\n","order_by":null,"text":{"0":{"id":1299969,"text":"All moneys received pursuant to the provisions of this chapter, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this chapter. 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 hereof, subject to the provisions of this chapter and the resolution authorizing the issuance of such bonds or the trust indenture securing the same.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":50000,"edition_id":2,"name":"Bonds","identifier":"3","label":"article","depth":4,"order_by":3,"parent_id":49997,"metadata":{"child_laws":19,"child_structures":0},"date_created":"2026-08-02 02:19:44","date_modified":"2026-08-02 12:29:52","permalink":{"id":1385999,"object_type":"structure","relational_id":50000,"identifier":"3","token":"15.2\/IV\/53\/3","url":"\/15.2\/IV\/53\/3\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49997,"edition_id":2,"name":"Hospital Authorities","identifier":"53","label":"chapter","depth":3,"order_by":11,"parent_id":49964,"metadata":{"child_laws":70,"child_structures":4},"date_created":"2026-08-02 02:19:39","date_modified":"2026-08-02 12:29:52","permalink":{"id":1385801,"object_type":"structure","relational_id":49997,"identifier":"53","token":"15.2\/IV\/53","url":"\/15.2\/IV\/53\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49964,"edition_id":2,"name":"Other Governmental Entities","identifier":"IV","label":"subtitle","depth":2,"order_by":4,"parent_id":49831,"metadata":{"child_laws":721,"child_structures":68},"date_created":"2026-08-02 02:19:12","date_modified":"2026-08-02 12:29:48","permalink":{"id":1384899,"object_type":"structure","relational_id":49964,"identifier":"IV","token":"15.2\/IV","url":"\/15.2\/IV\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49831,"edition_id":2,"name":"Counties, Cities and Towns","identifier":"15.2","label":"title","depth":1,"order_by":46,"parent_id":null,"metadata":{"child_laws":2297,"child_structures":225},"date_created":"2026-08-02 02:16:22","date_modified":"2026-08-02 12:29:22","permalink":{"id":1378281,"object_type":"structure","relational_id":49831,"identifier":"15.2","token":"15.2","url":"\/15.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":348707,"structure_id":50000,"section_number":"15.2-5346","catch_line":"Authority to issue","url":"\/15.2-5346\/","token":"15.2\/IV\/53\/3\/15.2-5346","metadata":false},{"id":348708,"structure_id":50000,"section_number":"15.2-5347","catch_line":"How payable","url":"\/15.2-5347\/","token":"15.2\/IV\/53\/3\/15.2-5347","metadata":false},{"id":348709,"structure_id":50000,"section_number":"15.2-5348","catch_line":"Commissioners not liable","url":"\/15.2-5348\/","token":"15.2\/IV\/53\/3\/15.2-5348","metadata":false},{"id":348710,"structure_id":50000,"section_number":"15.2-5349","catch_line":"Bond indebtedness","url":"\/15.2-5349\/","token":"15.2\/IV\/53\/3\/15.2-5349","metadata":false},{"id":348712,"structure_id":50000,"section_number":"15.2-5350","catch_line":"Form","url":"\/15.2-5350\/","token":"15.2\/IV\/53\/3\/15.2-5350","metadata":false},{"id":348713,"structure_id":50000,"section_number":"15.2-5351","catch_line":"Sale","url":"\/15.2-5351\/","token":"15.2\/IV\/53\/3\/15.2-5351","metadata":false},{"id":348714,"structure_id":50000,"section_number":"15.2-5352","catch_line":"Interim certificates","url":"\/15.2-5352\/","token":"15.2\/IV\/53\/3\/15.2-5352","metadata":false},{"id":348715,"structure_id":50000,"section_number":"15.2-5353","catch_line":"Signature of former officers","url":"\/15.2-5353\/","token":"15.2\/IV\/53\/3\/15.2-5353","metadata":false},{"id":348716,"structure_id":50000,"section_number":"15.2-5354","catch_line":"Purchase by authority","url":"\/15.2-5354\/","token":"15.2\/IV\/53\/3\/15.2-5354","metadata":false},{"id":348717,"structure_id":50000,"section_number":"15.2-5355","catch_line":"Negotiability","url":"\/15.2-5355\/","token":"15.2\/IV\/53\/3\/15.2-5355","metadata":false},{"id":348718,"structure_id":50000,"section_number":"15.2-5356","catch_line":"Provisions of bonds and trust indentures","url":"\/15.2-5356\/","token":"15.2\/IV\/53\/3\/15.2-5356","metadata":false},{"id":348719,"structure_id":50000,"section_number":"15.2-5357","catch_line":"Further provisions as to trust indenture or bond resolution; security required of depository of proceeds of bonds","url":"\/15.2-5357\/","token":"15.2\/IV\/53\/3\/15.2-5357","metadata":false},{"id":348720,"structure_id":50000,"section_number":"15.2-5358","catch_line":"Fees, rents and charges for use of project and facilities; sinking fund","url":"\/15.2-5358\/","token":"15.2\/IV\/53\/3\/15.2-5358","metadata":false},{"id":348721,"structure_id":50000,"section_number":"15.2-5359","catch_line":"Moneys received deemed trust funds","url":"\/15.2-5359\/","token":"15.2\/IV\/53\/3\/15.2-5359","metadata":false},{"id":348723,"structure_id":50000,"section_number":"15.2-5360","catch_line":"Protection and enforcement of rights and duties under chapter","url":"\/15.2-5360\/","token":"15.2\/IV\/53\/3\/15.2-5360","metadata":false},{"id":348724,"structure_id":50000,"section_number":"15.2-5361","catch_line":"Exemption from taxation","url":"\/15.2-5361\/","token":"15.2\/IV\/53\/3\/15.2-5361","metadata":false},{"id":348725,"structure_id":50000,"section_number":"15.2-5362","catch_line":"Bonds legal investments; deposit with public agencies","url":"\/15.2-5362\/","token":"15.2\/IV\/53\/3\/15.2-5362","metadata":false},{"id":348726,"structure_id":50000,"section_number":"15.2-5363","catch_line":"Chapter supplemental; application of other laws; consent of local governing bodies or other agencies not required","url":"\/15.2-5363\/","token":"15.2\/IV\/53\/3\/15.2-5363","metadata":false},{"id":348727,"structure_id":50000,"section_number":"15.2-5364","catch_line":"Liberal construction","url":"\/15.2-5364\/","token":"15.2\/IV\/53\/3\/15.2-5364","metadata":false}],"previous_section":{"id":348720,"structure_id":50000,"section_number":"15.2-5358","catch_line":"Fees, rents and charges for use of project and facilities; sinking fund","url":"\/15.2-5358\/","token":"15.2\/IV\/53\/3\/15.2-5358","metadata":false},"next_section":{"id":348723,"structure_id":50000,"section_number":"15.2-5360","catch_line":"Protection and enforcement of rights and duties under chapter","url":"\/15.2-5360\/","token":"15.2\/IV\/53\/3\/15.2-5360","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-5359\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 3 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1973, chapter 462; in 1979, chapter 719; in 1997, chapter 587<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":1386053,"object_type":"law","relational_id":348721,"identifier":"15.2-5359","token":"15.2\/IV\/53\/3\/15.2-5359","url":"\/15.2-5359\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/15.2-5359\/","token":"15.2\/IV\/53\/3\/15.2-5359","dublin_core":{"Title":"Moneys received deemed trust funds","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-5359","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

All moneys received pursuant to the provisions of this chapter, whether as proceeds from the sale of bonds<\/span><\/span> or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this chapter. 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 hereof, subject to the provisions of this chapter and the resolution authorizing the issuance of such bonds<\/span><\/span> or the trust indenture<\/span> securing the same.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nMONEYS RECEIVED DEEMED TRUST FUNDS (\u00a7 15.2-5359)\n\nAll moneys received pursuant to the provisions of this chapter, whether as\nproceeds from the sale of bonds or as revenues, shall be deemed to be trust\nfunds to be held and applied solely as provided in this chapter. Any officer\nwith whom, or any bank or trust company with which, such moneys are deposited\nshall act as trustee of such moneys and shall hold and apply the same for the\npurposes hereof, subject to the provisions of this chapter and the resolution\nauthorizing the issuance of such bonds or the trust indenture securing the same.\n\nHISTORY: Code 1950, \u00a7 32-271.3; 1973, c. 462, \u00a7 15.1-1594; 1979, c. 719; 1997,\nc. 587.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}