Code of Virginia § 51.5-97. Funds set aside from proceeds of business enterprises.
105 words·~1 min read·
/va/title-51-5/chapter-12/51-5-97·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Department shall set aside or cause to be set aside from the net proceeds of the operations authorized by this article such funds as may be necessary for the purpose of
(i)maintenance and replacement of equipment,
(ii)purchase of new equipment,
(iii)management services,
(iv)assuring a fair minimum return to vendors and
(v)the establishment and maintenance of retirement or pension funds, health insurance contributions and the provision for paid sick leave and vacation time in accordance with the Randolph-Sheppard Act Amendments of 1974 (P.L. 93-516).
Code 1950, § 63-204.22; 1968, c. 578, § 63.1-163; 1979, c. 96; 2002, c. 747 .