2.2-4408 - Authority to make public deposits. - Virginia Statutes

§ 2.2-4408. Authority to make public deposits.

A. All public depositors are hereby authorized to make public deposits undertheir control in qualified public depositories, securing such public depositspursuant to this chapter.

B. Local officials handling public deposits in the Commonwealth may notrequire from a qualified public depository any pledge of collateral for theirdeposits in excess of the requirements of this chapter.

(1973, c. 172, § 2.1-367; 1980, c. 538, § 2.1-234.5; 1998, cc. 20, 21; 2001,c. 844; 2010, cc. 640, 674.)