Administrative Code

Virginia Administrative Code
1/25/2022

Part V. Range and Duration of Loans

8VAC20-100-100. Maximum loan amount.

The maximum loan amount available for any single project through the Literary Fund is $5 million (effective for all applications approved by the board subsequent to the effective date of this chapter).

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 § 5.1, eff. March 30, 1988; amended, Virginia Register Volume 11, Issue 10, eff. March 8, 1995.

8VAC20-100-110. Minimum loan amount.

The minimum loan amount available for any single project through the Literary Fund is $50,000. The several applications to fund a regional project shall be combined for the purpose of meeting this minimum amount.

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 § 5.2, eff. March 30, 1988; amended, Virginia Register Volume 11, Issue 10, eff. March 8, 1995.

8VAC20-100-120. Duration of loans.

Literary Fund loans shall be made for a period of not less than five years nor more than 20 years. Literary Fund loans in an amount between $50,000 and $100,000 shall be for a period of five years.

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 § 5.3, eff. March 30, 1988; amended, Virginia Register Volume 11, Issue 10, eff. March 8, 1995.

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