15.2-5614 - Bonds legal investments. - Virginia Statutes

§ 15.2-5614. Bonds legal investments.

Bonds issued by the authority are securities in which all public officers andpublic bodies of the Commonwealth and its political subdivisions, allinsurance companies, trust companies, banking associations, investmentcompanies, executors, administrators, trustees and other fiduciaries mayproperly and legally invest funds, including capital in their control orbelonging to them. Such bonds are securities which legally may be depositedwith and received by any state or municipal officer or any agency orpolitical subdivision of the Commonwealth for any purpose for which thedeposit of bonds or obligations is, or may hereafter be, authorized by law.

(Code 1950, § 15-714.27; 1962, c. 393, § 15, § 15.1-1285; 1997, c. 587.)