A. All public depositors are hereby authorized to make public deposits under their control in qualified public depositories, securing such public deposits pursuant to this chapter.
B. Local officials handling public deposits in the Commonwealth may not require from a qualified public depository any pledge of collateral for their deposits 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.
Structure Code of Virginia
Title 2.2 - Administration of Government
Chapter 44 - Virginia Security for Public Deposits Act
§ 2.2-4400. Short title; declaration of intent; applicability
§ 2.2-4402. Collateral for public deposits
§ 2.2-4403. Procedure for payment of losses by pooled method
§ 2.2-4404. Procedure for payment of losses by dedicated method
§ 2.2-4405. Powers of Treasury Board relating to the administration of this chapter
§ 2.2-4407. Mandatory deposit of public funds in qualified public depositories
§ 2.2-4408. Authority to make public deposits