51.1-150 - Deposits. - Virginia Statutes

§ 51.1-150. Deposits.

For the purpose of meeting disbursements for retirement allowances and otherpayments, cash, not exceeding ten percent of the total amount in the accountsof the retirement system, may be kept on deposit to the credit of the StateTreasurer in one or more banks or trust companies, located in Virginia,organized under the laws of Virginia or of the United States and qualified asstate depositories.

(1952, c. 157, § 51-111.52; 1990, c. 832.)