Code of Virginia § 2.2-1815. Security to be given by depositories holding state funds.

108 words·~1 min read·/va/title-2-2/chapter-18/2-2-1815

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

No state funds shall be deposited in any depository unless it is a "qualified public depository" as defined in § 2.2-4401 . For purposes of this article, "state funds" means public funds or moneys from any source, belonging to or for the use of the Commonwealth, or for the use of any state department, division, officer, board, commission, institution, or other agency or authority owned or controlled by the Commonwealth. All state funds shall be secured pursuant to the Virginia Security for Public Deposits Act (§ 2.2-4400 et seq.).

Code 1950, § 2-179; 1966, c. 677, § 2.1-211; 1996, cc. 364 , 390 ; 2001, c. 844 .