Code of Virginia

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Code of Virginia
Title 45.1. Mines and Mining
Chapter 14.8. Emergency Seizure of Coal Properties by Commonwealth
4/20/2019

§ 45.1-161.321. Expense of acquiring and operating coal properties; funds derived from operation.

The expense of acquiring and operating any property or properties acquired under this chapter shall be paid out of moneys transferred from the general fund of the Commonwealth not otherwise appropriated upon such authorizations as the Governor may prescribe and shall be credited to the account of the Commission, and all funds and revenues derived from or received as a result of said operations shall be paid into the state treasury and credited to the same account. Any amounts transferred upon authorization of the Governor from the general fund of the Commonwealth shall be known and designated as the "Capital Account" of the Commission, which amount, or residue thereof, together with any surplus that may accrue, shall be returned to the general fund of the Commonwealth in the event of liquidation or, in the absence of liquidation, in such installments and at such times as the Governor may prescribe.

Code 1950, § 45-152; 1950, p. 32; 1966, c. 594, § 45.1-152; 1994, c. 28.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.