Virginia Code 10.1-603.38: Sale of loans.
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The Authority is empowered at any time and from time to time to sell, upon such terms and conditions as the Authority shall deem appropriate, any loan, or interest therein, made pursuant to this article. The net proceeds of sale remaining after the payment of the costs and expenses of the sale shall be designated for deposit to, and become part of, the Fund.
Terms Used In Virginia Code 10.1-603.38
- Authority: means the Virginia Resources Authority created in Chapter 21 of Title 62. See Virginia Code 10.1-603.28
- Fund: means the Resilient Virginia Revolving Fund created by this article. See Virginia Code 10.1-603.28