§ 2.2-4507 Investment of funds in overnight, term and open repurchase agreements
Notwithstanding any provision of law to the contrary, the Commonwealth, all public officers, municipal corporations, other political subdivisions and all other public bodies of the Commonwealth, may invest any and all moneys belonging to them or within their control in overnight, term and open repurchase agreements that are collateralized with securities that are approved for direct investment.
History
This law was first created in 1985. The record of its establishment is cataloged in chapter 352 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1985 “Acts” aren’t available online. It has been modified 2 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 1988, chapter 834; in 2001, chapter 844.
1985, c. 352, § 2.1-328.8; 1988, c. 834; 2001, c. 844.