Virginia Code 23.1-2218: Commonwealth to be trustee of donations; liability of State Treasurer.
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The Commonwealth is the trustee for the safekeeping and due application of all funds that may be deposited in the state treasury pursuant to § 23.1-2214. The State Treasurer and the sureties in his official bond are liable for the money or other funds deposited, and the accounting officers of the Commonwealth shall keep separate accounts of each such deposit in the same manner as other public funds.
Terms Used In Virginia Code 23.1-2218
- State: when applied to a part of the United States, includes any of the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the United States Virgin Islands. See Virginia Code 1-245
- Trustee: A person or institution holding and administering property in trust.
Code 1919, § 826, § 23-85; 2016, c. 588.