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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>352365</law_id><section_number>2.2-2207</section_number><catch_line>Moneys received deemed trust funds</catch_line><edition url="https://vacode.org/2026/" slug="2026" current="TRUE" last_updated="2026-08-02">2026</edition><structure><unit label="title" level="1" order_by="3" identifier="2.2">Administration of Government</unit><unit label="subtitle" level="2" order_by="1" identifier="I">Organization of State Government</unit><unit label="part" level="3" order_by="4" identifier="D">State Authorities, Boards, Commissions, Councils, Foundations and Other Collegial Bodies</unit><unit label="chapter" level="4" order_by="2" identifier="22">Authorities</unit><unit label="article" level="5" order_by="2" identifier="2">Commercial Space Flight Authority</unit></structure><text>
						<section><p>All moneys received pursuant to the <span class="dictionary">authority</span> of this article, whether as proceeds from the sale of <span class="dictionary"><span class="dictionary">bonds</span></span> or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this article. The resolution authorizing the <span class="dictionary"><span class="dictionary">bonds</span></span> of any <span class="dictionary">issue</span> or the trust indenture or agreement or resolution securing such <span class="dictionary"><span class="dictionary">bonds</span></span> shall provide that any officer with whom, or any bank or trust company with which, such moneys shall be deposited shall act as a trustee of such moneys and shall hold and apply the same for the purposes hereof, subject to the regulations as this article and the trust indenture or agreement or resolution may provide.</p></section></text><history>1995, c. 758, &#xA7; 9-266.8; 2001, c. 844.</history><metadata></metadata></law>
