Code of Virginia § 10.1-312. Bonds declared legal and authorized investments.
110 words·~1 min read·
/va/title-10-1/chapter-3/10-1-312A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The bonds issued pursuant to this chapter shall be legal and authorized investments for banks, savings institutions, trust companies, building and loan associations, insurance companies, fiduciaries, trustees, guardians and for all public funds of the Commonwealth or other political subdivisions of the Commonwealth. Such bonds shall be eligible to secure the deposit of public funds of the Commonwealth and public funds of counties, cities, towns, school districts or other political subdivisions of the Commonwealth. In addition, the bonds shall be lawful and sufficient security for deposits to the extent of their value when accompanied by all unmatured coupons.
1986, c. 498, § 10-112.1; 1988, c. 891; 1996, c. 77 .