Virginia § 54.1-4405.1 - Board of Accountancy Trust Account; creation; expenditures; excess moneys
Full text of Virginia Code of Virginia § 54.1-4405.1 — Board of Accountancy Trust Account; creation; expenditures; excess moneys, with citation guidance and answers to common questions.
§ 54.1-4405.1. Board of Accountancy Trust Account; creation; expenditures; excess moneys
A. There is hereby created in the state treasury a special nonreverting fund (except as set forth in subsection B), to be known as the Board of Accountancy Trust Account (the Trust Account). The purpose of the Trust Account is to provide a supplemental source of funds to the Board on a timely basis for (i) its use in the study, research, investigation, or adjudication of matters involving possible violations of the provisions of this chapter or regulations promulgated by the Board or (ii) any other purpose that the Board determines is germane to its statutory purposes and cannot otherwise be funded through the Fund. The Trust Account shall consist of transfers from time to time by the Board from the Fund and earnings on the Trust Account.
B. All disbursements from the Trust Account shall be made by the State Treasurer upon warrants of the Comptroller issued upon vouchers signed by an authorized officer of the Board or the Executive Director as authorized by the Board. Funds remaining in the Trust Account at the end of a biennium shall continue to remain in the Trust Account and accrue earnings. Upon a determination by the Board that the Trust Account balance exceeds the amount needed for the purposes set forth in subsection A, the Board may transfer the excess to the Fund.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 54.1-4405.1
What does Code of Virginia § 54.1-4405.1 cover?
Section 54.1-4405.1 ("Board of Accountancy Trust Account; creation; expenditures; excess moneys") 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 § 54.1-4405.1?
A common citation format is "Code of Virginia § 54.1-4405.1" (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 § 54.1-4405.1 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.