(a) There is hereby created and established under the jurisdiction of the Office of the Treasurer of the state a veterans' mortgage fund. All moneys resulting from the sale of bonds pursuant to this article shall be credited to such fund.

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Terms Used In West Virginia Code 31-18C-4

  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Loan: means a veterans'. See West Virginia Code 31-18C-3
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Program: means the veterans'. See West Virginia Code 31-18C-3
  • State: means the State of West Virginia. See West Virginia Code 31-18C-3

(b) For the purpose of creating and maintaining a fund to provide loans for veterans in accordance with this article, the state shall issue its negotiable bonds to provide funds for a veterans' mortgage fund loan program to be made pursuant to this article.