(a) There shall be paid into the general account in the veterans' mortgage fund all money from any and all loan payments made by veterans under the terms of the loans for the purpose of paying the interest on and principal of such bonds and from any other source whatsoever which is made liable by law or contract for the payment of the principal of such bonds or the interest thereon.
(b) Moneys from time to time in the general account in the fund in excess of the amount currently required for the payment of the due principal of, or interest on, the bonds, and the current expenses of the fund shall be invested by the State Treasurer at the direction of the Governor.
Structure West Virginia Code
Article 18C. Veterans' Mortgage Fund
§31-18C-2. Legislative Findings; Purpose and Intent of Article
§31-18C-4. Veterans' Mortgage Fund Created; Purpose
§31-18C-5. Money and Interests Included in the Veterans' Mortgage Fund
§31-18C-6. Veterans' Mortgage Bonds; Amount; Terms of Bonds; When May Issue
§31-18C-7. Pledge of Credit of State and Security for Bonds
§31-18C-8. Legality for Investment; Tax Exemption
§31-18C-9. Listing by Auditor; Agent for Registration
§31-18C-10. Veterans' Loan Payments Used to Pay Bonds and Interest; Investment of Remainder
§31-18C-11. Sale by Governor; Minimum Price
§31-18C-12. Auditor to Be Custodian of Unsold Bonds
§31-18C-13. Bond Counsel and Financial Advisor
§31-18C-14. Approval and Payment of All Necessary Expenses
§31-18C-16. Powers and Duties of Housing Development Fund Regarding Veterans' Mortgage Fund
§31-18C-17. Terms and Conditions of Loans From Veterans' Mortgage Fund