22.1-161.8 - Bonds deemed negotiable instruments; sale of bonds by Trustees of Retirement System; bonds made legal investments. - Virginia Statutes

§ 22.1-161.8. Bonds deemed negotiable instruments; sale of bonds by Trusteesof Retirement System; bonds made legal investments.

Bonds issued under the provisions of this chapter and purchased by the Boardof Trustees of the Virginia Retirement System shall be deemed negotiableinstruments under the laws of this Commonwealth. The Board of Trustees may,in its discretion, sell any such bonds so purchased and held by it at suchtime or times as to it may seem desirable in the management of the fundsunder its control; and such bonds are hereby made securities in which allpublic officers and bodies of this Commonwealth, and all counties, cities andtowns and municipal subdivisions, all insurance companies and associations,all savings banks and savings institutions, including savings and loanassociations, trust companies, beneficial and benevolent associations,administrators, guardians, executors, trustees and other fiduciaries in thisCommonwealth may properly and legally invest funds under their control.

(1995, c. 250.)