Code of Virginia § 23.1-1112. Bonds; interest.
71 words·~1 min read·
/va/title-23-1/chapter-11/23-1-1112·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No bond issued by an institution pursuant to this chapter shall
(i)bear interest at an annual percentage rate exceeding the greater of the rates authorized under § 6.2-303 or 15.2-2612 or
(ii)be sold at public or private sale such that the interest cost to maturity exceeds the greater of such annual percentage rates authorized under § 6.2-303 or 15.2-2612 .
1970, c. 609, § 23-30.03; 2016, c. 588 .