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2001 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 a check from drawn on
such designated depository identifying the name of the campaign committee and
candidate. 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.