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Virginia Administrative Code
Title 8. Education
Agency 20. State Board of Education
Chapter 100. Regulations Governing Literary Loan Applications in Virginia
12/26/2024

8VAC20-100-50. Application approval.

Upon approval of a Literary Fund loan application, a Memorandum of Lien form, properly executed, and recorded in the appropriate circuit court is to be returned to the department. It is recognized that the lien is not effective until the Board of Education approves the initial release/commitment of funds against the project. Section 22.1-157 of the Code of Virginia provides that no recordation tax shall be assessable.

Statutory Authority

Article VIII, § 8 of the Constitution of Virginia; §§ 22.1-140 and 22.1-142 et seq. of the Code of Virginia.

Historical Notes

Derived from VR270-01-0009 § 3.3, eff. March 30, 1988; amended, Virginia Register Volume 11, Issue 10, eff. March 8, 1995.

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