This law establishes the Motor Vehicle Dealer Board Fund as a special fund in the Virginia state treasury. All fees collected by the Motor Vehicle Dealer Board are deposited into this fund, and interest income also accrues to it. Disbursements from the fund are made by the State Treasurer based on warrants issued upon authorized vouchers.
It is a special fund in the Virginia state treasury that collects fees from motor vehicle dealers and manages related disbursements.
All fees collected are deposited immediately into the Motor Vehicle Dealer Board Fund and any interest earned also accrues to this fund.
Disbursements are made by the State Treasurer upon warrants issued by the Comptroller based on vouchers signed by authorized officers.
No, all interest income from the fund is credited back to the Motor Vehicle Dealer Board Fund for its use.