29.1-101.3 - Deposit of money. - Virginia Statutes

§ 29.1-101.3. Deposit of money.

All money belonging to the Fund shall be recorded on the books of the StateComptroller and deposited in an account or accounts in banks or trustcompanies organized under the laws of the Commonwealth or in national bankingassociations located in Virginia or in savings institutions located inVirginia organized under the laws of the Commonwealth or the United States.Money in the Fund not needed for immediate use or disbursement may beinvested or reinvested by the State Treasurer in obligations or securitiesthat are considered lawful investments for public funds under the laws of theCommonwealth.

(1989, c. 5, § 10.1-1215; 1992, cc. 464, 887; 1996, c. 77.)