62.1-220 - Bonds as legal investments and securities. - Virginia Statutes

§ 62.1-220. Bonds as legal investments and securities.

The bonds issued by the Authority in accordance with the provisions of thischapter are declared to be legal investments in which all public officers orpublic bodies of the Commonwealth, its political subdivisions, allmunicipalities and municipal subdivisions; all insurance companies andassociations and other persons carrying on insurance business; all banks,bankers, banking associations, trust companies, savings banks, savingsassociations, including savings and loan associations, building and loanassociations, investment companies, and other persons carrying on a bankingbusiness; all administrators, guardians, executors, trustees and otherfiduciaries; and all other persons who are now or may hereafter be authorizedto invest in bonds or other obligations of the Commonwealth, may investfunds, including capital, in their control or belonging to them. The bonds ofthe Authority are also hereby made securities which may be deposited with andreceived by all public officers and bodies of the Commonwealth or any agencyor political subdivision of the Commonwealth and all municipalities andpublic corporations for any purpose for which the deposit of bonds or otherobligations of the Commonwealth is now or may be later authorized by law.

(1984, c. 699.)