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2000 SESSION
Be it enacted by the General Assembly of Virginia:
1. That § 24.2-905 of the Code of Virginia is amended and reenacted as follows:
§ 24.2-905. Campaign depositories; petty cash fund.
All funds and monetary contributions received by the candidate or his campaign
committee, as soon as practicable after receipt thereof, shall be deposited by
the treasurer in the designated campaign depository in an account properly
identifying the name of and the existence of the political candidacy. No
candidate, campaign treasurer, or other individual shall pay any expense on
behalf of a candidate, directly or indirectly, except by check from such
designated depository;. However, a treasurer (i) may establish a petty cash
fund to be utilized for the purpose of making expenditures or reimbursing verified credit card
expenditures of less than one hundred dollars if complete records of such expenditures are maintained
as required by this chapter and (ii) may transfer funds from the designated
campaign depository to an account or instrument to earn interest on the funds so
long as the transferred funds and earned interest are returned to the designated
depository account, complete records are maintained, and all expenditures are
made through the designated depository account.