{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/15.2-5345.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/15.2-5345.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/15.2-5345.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/15.2-5345.html"}],"law_id":61954,"edition_id":1,"section_id":61954,"structure_id":13141,"section_number":"15.2-5345","catch_line":"Security for funds deposited by authorities; deposit in certain savings accounts, etc., authorized","history":"Code 1950, \u00a7 32-260; 1976, c. 281, \u00a7 15.1-1580; 1979, c. 719; 1990, c. 3; 1997, c. 587.","full_text":"The authority may by resolution provide that all moneys deposited by it shall be secured:\n\n1\n\nBy obligations of the United States or of the Commonwealth of a market value equal at all times to the amount of such deposits;2\n\nBy any securities in which trustees, guardians, executors, administrators and others acting in a fiduciary capacity may legally invest funds within their control; or3\n\nBy an undertaking with such sureties as shall be approved by the authority faithfully to keep and pay over upon the order of the authority any such deposits and agreed interest thereon.\n\t\t\tAll banks and trust companies are authorized to give any such security for such deposits.\n\t\t\tDeposit of such funds in savings accounts and certificates of savings institutions which are under state supervision and of federal associations organized under the laws of the United States and under federal supervision, is hereby authorized, provided that such institution’s deposits are insured by the Federal Deposit Insurance Corporation or other federal insurance agency.","order_by":null,"text":{"0":{"id":226164,"text":"The authority may by resolution provide that all moneys deposited by it shall be secured:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":226165,"text":"By obligations of the United States or of the Commonwealth of a market value equal at all times to the amount of such deposits;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":226166,"text":"By any securities in which trustees, guardians, executors, administrators and others acting in a fiduciary capacity may legally invest funds within their control; or","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":226167,"text":"By an undertaking with such sureties as shall be approved by the authority faithfully to keep and pay over upon the order of the authority any such deposits and agreed interest thereon.\n\t\t\tAll banks and trust companies are authorized to give any such security for such deposits.\n\t\t\tDeposit of such funds in savings accounts and certificates of savings institutions which are under state supervision and of federal associations organized under the laws of the United States and under federal supervision, is hereby authorized, provided that such institution’s deposits are insured by the Federal Deposit Insurance Corporation or other federal insurance agency.","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2"}},"ancestry":[{"id":13141,"edition_id":1,"name":"Powers","identifier":"2","label":"article","depth":4,"order_by":1,"parent_id":13046,"metadata":{},"date_created":"2026-06-26 03:44:20","date_modified":"2026-06-26 03:44:20","permalink":{"id":158891,"object_type":"structure","relational_id":13141,"identifier":"2","token":"15.2\/IV\/53\/2","url":"\/15.2\/IV\/53\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13046,"edition_id":1,"name":"Hospital Authorities","identifier":"53","label":"chapter","depth":3,"order_by":1,"parent_id":12721,"metadata":{},"date_created":"2026-06-26 03:44:11","date_modified":"2026-06-26 03:44:11","permalink":{"id":158799,"object_type":"structure","relational_id":13046,"identifier":"53","token":"15.2\/IV\/53","url":"\/15.2\/IV\/53\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12721,"edition_id":1,"name":"Other Governmental Entities","identifier":"IV","label":"subtitle","depth":2,"order_by":1,"parent_id":12720,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":157897,"object_type":"structure","relational_id":12721,"identifier":"IV","token":"15.2\/IV","url":"\/15.2\/IV\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12720,"edition_id":1,"name":"Counties, Cities and Towns","identifier":"15.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":151279,"object_type":"structure","relational_id":12720,"identifier":"15.2","token":"15.2","url":"\/15.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":61897,"structure_id":13141,"section_number":"15.2-5322","catch_line":"In general","url":"\/15.2-5322\/","token":"15.2\/IV\/53\/2\/15.2-5322","metadata":false},{"id":69574,"structure_id":13141,"section_number":"15.2-5323","catch_line":"Study and investigation concerning plan","url":"\/15.2-5323\/","token":"15.2\/IV\/53\/2\/15.2-5323","metadata":false},{"id":80872,"structure_id":13141,"section_number":"15.2-5324","catch_line":"Preparation and operation of hospital projects; facilities relating to health care; additional powers","url":"\/15.2-5324\/","token":"15.2\/IV\/53\/2\/15.2-5324","metadata":false},{"id":82333,"structure_id":13141,"section_number":"15.2-5325","catch_line":"Clinics and instruction programs","url":"\/15.2-5325\/","token":"15.2\/IV\/53\/2\/15.2-5325","metadata":false},{"id":86768,"structure_id":13141,"section_number":"15.2-5326","catch_line":"Physicians and employees","url":"\/15.2-5326\/","token":"15.2\/IV\/53\/2\/15.2-5326","metadata":false},{"id":85853,"structure_id":13141,"section_number":"15.2-5327","catch_line":"Powers of nonstock corporations","url":"\/15.2-5327\/","token":"15.2\/IV\/53\/2\/15.2-5327","metadata":false},{"id":57690,"structure_id":13141,"section_number":"15.2-5328","catch_line":"Bylaws and rules and regulations","url":"\/15.2-5328\/","token":"15.2\/IV\/53\/2\/15.2-5328","metadata":false},{"id":56048,"structure_id":13141,"section_number":"15.2-5329","catch_line":"Committees","url":"\/15.2-5329\/","token":"15.2\/IV\/53\/2\/15.2-5329","metadata":false},{"id":64484,"structure_id":13141,"section_number":"15.2-5330","catch_line":"Construction, repair and management","url":"\/15.2-5330\/","token":"15.2\/IV\/53\/2\/15.2-5330","metadata":false},{"id":68173,"structure_id":13141,"section_number":"15.2-5331","catch_line":"Donations","url":"\/15.2-5331\/","token":"15.2\/IV\/53\/2\/15.2-5331","metadata":false},{"id":67612,"structure_id":13141,"section_number":"15.2-5332","catch_line":"Regulating practice and nursing in hospital","url":"\/15.2-5332\/","token":"15.2\/IV\/53\/2\/15.2-5332","metadata":false},{"id":57416,"structure_id":13141,"section_number":"15.2-5333","catch_line":"Rules as to patients","url":"\/15.2-5333\/","token":"15.2\/IV\/53\/2\/15.2-5333","metadata":false},{"id":61320,"structure_id":13141,"section_number":"15.2-5334","catch_line":"Purchases or leases of hospital projects","url":"\/15.2-5334\/","token":"15.2\/IV\/53\/2\/15.2-5334","metadata":false},{"id":76018,"structure_id":13141,"section_number":"15.2-5335","catch_line":"Acting with federal government","url":"\/15.2-5335\/","token":"15.2\/IV\/53\/2\/15.2-5335","metadata":false},{"id":79824,"structure_id":13141,"section_number":"15.2-5336","catch_line":"Cooperation with subdivision of Commonwealth","url":"\/15.2-5336\/","token":"15.2\/IV\/53\/2\/15.2-5336","metadata":false},{"id":54168,"structure_id":13141,"section_number":"15.2-5337","catch_line":"Purchase or lease of property; sale of property","url":"\/15.2-5337\/","token":"15.2\/IV\/53\/2\/15.2-5337","metadata":false},{"id":67500,"structure_id":13141,"section_number":"15.2-5338","catch_line":"Owning property","url":"\/15.2-5338\/","token":"15.2\/IV\/53\/2\/15.2-5338","metadata":false},{"id":69991,"structure_id":13141,"section_number":"15.2-5339","catch_line":"Borrowing money","url":"\/15.2-5339\/","token":"15.2\/IV\/53\/2\/15.2-5339","metadata":false},{"id":78520,"structure_id":13141,"section_number":"15.2-5340","catch_line":"Contracts","url":"\/15.2-5340\/","token":"15.2\/IV\/53\/2\/15.2-5340","metadata":false},{"id":73977,"structure_id":13141,"section_number":"15.2-5340.1","catch_line":"Joint ventures; subsidiaries; investments","url":"\/15.2-5340.1\/","token":"15.2\/IV\/53\/2\/15.2-5340.1","metadata":false},{"id":59384,"structure_id":13141,"section_number":"15.2-5340.2","catch_line":"Insurance","url":"\/15.2-5340.2\/","token":"15.2\/IV\/53\/2\/15.2-5340.2","metadata":false},{"id":79955,"structure_id":13141,"section_number":"15.2-5341","catch_line":"Rules and regulations not to be inconsistent","url":"\/15.2-5341\/","token":"15.2\/IV\/53\/2\/15.2-5341","metadata":false},{"id":66833,"structure_id":13141,"section_number":"15.2-5342","catch_line":"Incidental powers","url":"\/15.2-5342\/","token":"15.2\/IV\/53\/2\/15.2-5342","metadata":false},{"id":61522,"structure_id":13141,"section_number":"15.2-5343","catch_line":"Eminent domain","url":"\/15.2-5343\/","token":"15.2\/IV\/53\/2\/15.2-5343","metadata":false},{"id":69970,"structure_id":13141,"section_number":"15.2-5344","catch_line":"Contracts with federal government","url":"\/15.2-5344\/","token":"15.2\/IV\/53\/2\/15.2-5344","metadata":false},{"id":61954,"structure_id":13141,"section_number":"15.2-5345","catch_line":"Security for funds deposited by authorities; deposit in certain savings accounts, etc., authorized","url":"\/15.2-5345\/","token":"15.2\/IV\/53\/2\/15.2-5345","metadata":false}],"previous_section":{"id":69970,"structure_id":13141,"section_number":"15.2-5344","catch_line":"Contracts with federal government","url":"\/15.2-5344\/","token":"15.2\/IV\/53\/2\/15.2-5344","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-5345\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 4 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1976, chapter 281; in 1979, chapter 719; in 1990, chapter 3; in 1997, chapter 587<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":158993,"object_type":"law","relational_id":61954,"identifier":"15.2-5345","token":"15.2\/IV\/53\/2\/15.2-5345","url":"\/15.2-5345\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/15.2-5345\/","token":"15.2\/IV\/53\/2\/15.2-5345","dublin_core":{"Title":"Security for funds deposited by authorities; deposit in certain savings accounts, etc., authorized","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-5345","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The authority<\/span> may by resolution provide that all moneys deposited by it shall be secured:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> By obligations of the United States or of the Commonwealth of a market value equal at all times to the amount of such deposits; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> By any securities in which trustees, guardians, executors, administrators and others acting in a fiduciary capacity may legally invest funds within their control; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> By an undertaking with such sureties as shall be approved by the authority<\/span> faithfully to keep and pay over upon the order<\/span> of the authority<\/span> any such deposits and agreed interest thereon.\n\t\t\tAll banks and trust companies are authorized to give any such security for such deposits.\n\t\t\tDeposit of such funds in savings accounts and certificates of savings institutions which are under state supervision and of federal associations organized under the laws<\/span> of the United States and under federal supervision, is hereby authorized, provided that such institution’s deposits are insured by the Federal Deposit Insurance Corporation or other federal insurance agency. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSECURITY FOR FUNDS DEPOSITED BY AUTHORITIES; DEPOSIT IN CERTAIN SAVINGS\nACCOUNTS, ETC., AUTHORIZED (\u00a7 15.2-5345)\n\nThe authority may by resolution provide that all moneys deposited by it shall be\nsecured:\n\n1. By obligations of the United States or of the Commonwealth of a market value\nequal at all times to the amount of such deposits;\n\n2. By any securities in which trustees, guardians, executors, administrators and\nothers acting in a fiduciary capacity may legally invest funds within their\ncontrol; or\n\n3. By an undertaking with such sureties as shall be approved by the authority\nfaithfully to keep and pay over upon the order of the authority any such\ndeposits and agreed interest thereon.\n\t\t\tAll banks and trust companies are authorized to give any such security for\nsuch deposits.\n\t\t\tDeposit of such funds in savings accounts and certificates of savings\ninstitutions which are under state supervision and of federal associations\norganized under the laws of the United States and under federal supervision, is\nhereby authorized, provided that such institution’s deposits are insured\nby the Federal Deposit Insurance Corporation or other federal insurance agency.\n\nHISTORY: Code 1950, \u00a7 32-260; 1976, c. 281, \u00a7 15.1-1580; 1979, c. 719; 1990,\nc. 3; 1997, c. 587.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}