Projects that makes use of others

[CvsGui]

Hello,

since I'm really new to CVS I was wondering if it's possible (and if
the answer is yes how to manage it) to create an project that makes
use of (checks out) the latest version of e.g. an c++-class to acccess
an oracle-database, so that the oracle-class can be used by several
projects and is always used in the latest version !?

I hope the explaination is readable and understandable :-)

Greets,
       Michael