Virginia § 22.1-152 - Payment of principal and interest
Full text of Virginia Code of Virginia § 22.1-152 — Payment of principal and interest, with citation guidance and answers to common questions.
§ 22.1-152. Payment of principal and interest
Payments of interest and principal shall be made to the State Treasurer. A loan from the Literary Fund shall be repayable in annual installments from five to thirty years. The time of payment may be extended in the discretion of the Board of Education; but if the Board of Education has assigned any of the bonds, notes or other evidences of the loan to the Board of Trustees of the Virginia Retirement System under the provisions of § 51.1-124.30 and the same are held by the Board of Trustees of the Virginia Retirement System, the time of payment thereof may not be extended by the Board of Education but may be extended by the Board of Trustees of the Virginia Retirement System, in its discretion.
Code 1950, § 22-112; 1954, c. 476; 1958, c. 162; 1980, c. 559.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 22.1-152
What does Code of Virginia § 22.1-152 cover?
Section 22.1-152 ("Payment of principal and interest") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 22.1-152?
A common citation format is "Code of Virginia § 22.1-152" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 22.1-152 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.