Notwithstanding any provision of law to the contrary, the Commonwealth, all public officers, municipal corporations, political subdivisions and all public bodies of the Commonwealth may engage in securities lending from the portfolio of investments of which they have custody and control, other than sinking funds. The Treasury Board shall develop guidelines with which such securities lending shall fully comply. Such guidelines shall ensure that the state treasury is at all times fully collateralized by the borrowing institution.
1983, c. 268, § 2.1-328.6; 2001, c. 844.
Structure Code of Virginia
Title 2.2 - Administration of Government
Chapter 45 - Investment of Public Funds Act
§ 2.2-4500. Legal investments for public sinking funds
§ 2.2-4501. Legal investments for other public funds
§ 2.2-4503. Investments by Fairfax County finance director
§ 2.2-4506. Securities lending
§ 2.2-4507. Investment of funds in overnight, term and open repurchase agreements
§ 2.2-4508. Investment of certain public moneys in certain mutual funds
§ 2.2-4510. Investment of funds in corporate notes
§ 2.2-4511. Investment of funds in asset-backed securities
§ 2.2-4512. Investment of funds by State Treasurer in obligations of foreign sovereign governments
§ 2.2-4513. Investments by transportation commissions
§ 2.2-4513.1. Investment of funds in qualified investment pools
§ 2.2-4515. Collateral and safekeeping arrangements
§ 2.2-4516. Liability of treasurers or public depositors
§ 2.2-4517. Contracts on interest rates, currency, cash flow or on other basis