15.2-4915 - Bonds as legal investments and lawful security. - Virginia Statutes

§ 15.2-4915. Bonds as legal investments and lawful security.

The bonds issued pursuant to this chapter shall be and are hereby declared tobe legal and authorized investments for banks, savings banks, trustcompanies, building and loan associations, insurance companies, fiduciaries,trustees, guardians and for all public funds of the Commonwealth or otherpolitical corporations or subdivisions of the Commonwealth. Such bonds shallbe eligible to secure the deposit of public funds of the Commonwealth,localities, school districts or other political corporations or subdivisionsof the Commonwealth, and shall be security for such deposits to the extent oftheir value when accompanied by all unmatured coupons appertaining thereto.

(1966, c. 651, § 15.1-1386; 1997, c. 587.)