2.2-2304 - Deposit of money; expenditures; security for deposits. - Virginia Statutes

§ 2.2-2304. Deposit of money; expenditures; security for deposits.

All money of the Authority, except as otherwise authorized in this article,shall be deposited as soon as practicable in a separate account in banks ortrust companies organized under the laws of the Commonwealth or in nationalbanking associations doing business in the Commonwealth. The money in suchaccounts shall be paid by checks signed by the Executive Director or otherofficer or employees of the Authority as the Authority shall authorize. Alldeposits of money shall, if required by the Authority, be secured in suchmanner as the Authority determines to be prudent, and all banks or trustcompanies are authorized to give security for the deposits.

(1984, c. 749, § 9-229; 2001, c. 844.)