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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>353912</law_id><section_number>21-178</section_number><catch_line>Funds of commission</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="58" identifier="21">Drainage, Soil Conservation, Sanitation and Public Facilities Districts</unit><unit label="chapter" level="2" order_by="3" identifier="3">Sanitation Districts Law of 1938 -- Tidal Waters</unit><unit label="article" level="3" order_by="3" identifier="3">Incorporation; Commission</unit></structure><text>
						<section id="a"><p><span class="prefix-number">a.</span> All moneys of a commission, whether derived from the sale of <span class="dictionary">bonds</span> or other obligations or from the collection of fees, rents and other charges charged by the commission or from any <span class="dictionary">contract</span> of the commission or from any other source shall be collected, received, held, secured and disbursed in accordance with any <span class="dictionary">contract</span> of the commission relating thereto. The following provisions of this section shall be applicable to any such moneys only if and to the extent that they are consistent with such <span class="dictionary">contract</span> or <span class="dictionary">contracts</span> of the commission. <a id="paragraph-1318316" class="section-permalink" href="https://vacode.org/21-178/#a"><i class="fa fa-link"/></a></p></section>
						<section id="b"><p><span class="prefix-number">b.</span> Such moneys shall not be required to be paid into the state treasury or into the treasury or to any officer of any <span class="dictionary">county</span>, city or <span class="dictionary">town</span>. <a id="paragraph-1318317" class="section-permalink" href="https://vacode.org/21-178/#b"><i class="fa fa-link"/></a></p></section>
						<section id="c"><p><span class="prefix-number">c.</span> All such moneys shall be deposited by the commission in a separate bank account or accounts, appropriately designated, in such banks or trust companies as may be designated by the commission. <a id="paragraph-1318318" class="section-permalink" href="https://vacode.org/21-178/#c"><i class="fa fa-link"/></a></p></section>
						<section id="d"><p><span class="prefix-number">d.</span> All deposits of such moneys shall be secured by <span class="dictionary">bonds</span> or other direct unlimited obligations of the United States or of the Commonwealth or of any <span class="dictionary">county</span>, city or <span class="dictionary">town</span> of the Commonwealth or of the commission of a market value at least equal at all times to the amount of such deposits, and all banks and trust companies are authorized to give such security for such deposits. <a id="paragraph-1318319" class="section-permalink" href="https://vacode.org/21-178/#d"><i class="fa fa-link"/></a></p></section></text><history>1938, p. 524; Michie Code 1942, &#xA7; 1560ww.</history><metadata></metadata></law>
