{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/2.2-2305.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/2.2-2305.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/2.2-2305.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/2.2-2305.html"}],"law_id":66422,"edition_id":1,"section_id":66422,"structure_id":13623,"section_number":"2.2-2305","catch_line":"Contracts with holders of bonds; how money secured","history":"1984, c. 749, \u00a7 9-230; 2001, c. 844.","full_text":"Notwithstanding the provisions of \u00a7 2.2-2304, the Authority may contract with the holders of any of its bonds as to the custody, collection, securing, investment and payment of any money of the Authority and of any money held in trust or otherwise for the payment of bonds, and to carry out such contract. Money held in trust or otherwise for the payment of bonds or in any way to secure bonds and deposits of money may be secured in the same manner as money of the Authority, and all banks and trust companies are authorized to give security for the deposits.","order_by":null,"text":{"0":{"id":241117,"text":"Notwithstanding the provisions of \u00a7 2.2-2304, the Authority may contract with the holders of any of its bonds as to the custody, collection, securing, investment and payment of any money of the Authority and of any money held in trust or otherwise for the payment of bonds, and to carry out such contract. Money held in trust or otherwise for the payment of bonds or in any way to secure bonds and deposits of money may be secured in the same manner as money of the Authority, and all banks and trust companies are authorized to give security for the deposits.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13623,"edition_id":1,"name":"Virginia Small Business Financing Authority","identifier":"7","label":"article","depth":5,"order_by":1,"parent_id":13344,"metadata":{},"date_created":"2026-06-26 03:45:24","date_modified":"2026-06-26 03:45:24","permalink":{"id":174461,"object_type":"structure","relational_id":13623,"identifier":"7","token":"2.2\/I\/D\/22\/7","url":"\/2.2\/I\/D\/22\/7\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13344,"edition_id":1,"name":"Authorities","identifier":"22","label":"chapter","depth":4,"order_by":1,"parent_id":12785,"metadata":{},"date_created":"2026-06-26 03:44:41","date_modified":"2026-06-26 03:44:41","permalink":{"id":173945,"object_type":"structure","relational_id":13344,"identifier":"22","token":"2.2\/I\/D\/22","url":"\/2.2\/I\/D\/22\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12785,"edition_id":1,"name":"State Authorities, Boards, Commissions, Councils, Foundations and Other Collegial Bodies","identifier":"D","label":"part","depth":3,"order_by":1,"parent_id":12784,"metadata":{},"date_created":"2026-06-26 03:43:53","date_modified":"2026-06-26 03:43:53","permalink":{"id":173913,"object_type":"structure","relational_id":12785,"identifier":"D","token":"2.2\/I\/D","url":"\/2.2\/I\/D\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12784,"edition_id":1,"name":"Organization of State Government","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":12749,"metadata":{},"date_created":"2026-06-26 03:43:53","date_modified":"2026-06-26 03:43:53","permalink":{"id":171455,"object_type":"structure","relational_id":12784,"identifier":"I","token":"2.2\/I","url":"\/2.2\/I\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12749,"edition_id":1,"name":"Administration of Government","identifier":"2.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":171453,"object_type":"structure","relational_id":12749,"identifier":"2.2","token":"2.2","url":"\/2.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":58804,"structure_id":13623,"section_number":"2.2-2279","catch_line":"Short title; definitions","url":"\/2.2-2279\/","token":"2.2\/I\/D\/22\/7\/2.2-2279","metadata":false},{"id":57453,"structure_id":13623,"section_number":"2.2-2280","catch_line":"Declaration of public purpose; Authority created","url":"\/2.2-2280\/","token":"2.2\/I\/D\/22\/7\/2.2-2280","metadata":false},{"id":57343,"structure_id":13623,"section_number":"2.2-2281","catch_line":"Construction of article","url":"\/2.2-2281\/","token":"2.2\/I\/D\/22\/7\/2.2-2281","metadata":false},{"id":76362,"structure_id":13623,"section_number":"2.2-2282","catch_line":"Board of directors; membership; terms, compensation and expenses; chairman, vice-chairman, secretary and treasurer; quorum; staff","url":"\/2.2-2282\/","token":"2.2\/I\/D\/22\/7\/2.2-2282","metadata":false},{"id":64953,"structure_id":13623,"section_number":"2.2-2283","catch_line":"Meetings of the Board","url":"\/2.2-2283\/","token":"2.2\/I\/D\/22\/7\/2.2-2283","metadata":false},{"id":57687,"structure_id":13623,"section_number":"2.2-2284","catch_line":"Executive Director; appointment; duties","url":"\/2.2-2284\/","token":"2.2\/I\/D\/22\/7\/2.2-2284","metadata":false},{"id":84552,"structure_id":13623,"section_number":"2.2-2285","catch_line":"Powers of the Authority","url":"\/2.2-2285\/","token":"2.2\/I\/D\/22\/7\/2.2-2285","metadata":false},{"id":74688,"structure_id":13623,"section_number":"2.2-2286","catch_line":"Power to condemn","url":"\/2.2-2286\/","token":"2.2\/I\/D\/22\/7\/2.2-2286","metadata":false},{"id":54625,"structure_id":13623,"section_number":"2.2-2287","catch_line":"Power to borrow money and issue bonds","url":"\/2.2-2287\/","token":"2.2\/I\/D\/22\/7\/2.2-2287","metadata":false},{"id":71590,"structure_id":13623,"section_number":"2.2-2288","catch_line":"Power to issue bonds to purchase ninety percent guaranteed portion of loans","url":"\/2.2-2288\/","token":"2.2\/I\/D\/22\/7\/2.2-2288","metadata":false},{"id":83086,"structure_id":13623,"section_number":"2.2-2289","catch_line":"Power to issue umbrella bonds","url":"\/2.2-2289\/","token":"2.2\/I\/D\/22\/7\/2.2-2289","metadata":false},{"id":75308,"structure_id":13623,"section_number":"2.2-2290","catch_line":"Insurance or guarantee fund","url":"\/2.2-2290\/","token":"2.2\/I\/D\/22\/7\/2.2-2290","metadata":false},{"id":78908,"structure_id":13623,"section_number":"2.2-2291","catch_line":"Security for bonds; fees and expenses; limitations","url":"\/2.2-2291\/","token":"2.2\/I\/D\/22\/7\/2.2-2291","metadata":false},{"id":61903,"structure_id":13623,"section_number":"2.2-2292","catch_line":"Public hearing and approval","url":"\/2.2-2292\/","token":"2.2\/I\/D\/22\/7\/2.2-2292","metadata":false},{"id":57038,"structure_id":13623,"section_number":"2.2-2293","catch_line":"Loans to lenders; conditions","url":"\/2.2-2293\/","token":"2.2\/I\/D\/22\/7\/2.2-2293","metadata":false},{"id":60840,"structure_id":13623,"section_number":"2.2-2294","catch_line":"Investment in, purchase or assignment of loans; conditions","url":"\/2.2-2294\/","token":"2.2\/I\/D\/22\/7\/2.2-2294","metadata":false},{"id":84283,"structure_id":13623,"section_number":"2.2-2295","catch_line":"Regulations of the Authority","url":"\/2.2-2295\/","token":"2.2\/I\/D\/22\/7\/2.2-2295","metadata":false},{"id":59895,"structure_id":13623,"section_number":"2.2-2296","catch_line":"How bonds paid and secured","url":"\/2.2-2296\/","token":"2.2\/I\/D\/22\/7\/2.2-2296","metadata":false},{"id":86041,"structure_id":13623,"section_number":"2.2-2297","catch_line":"Liability of Commonwealth, political subdivisions and members of Board","url":"\/2.2-2297\/","token":"2.2\/I\/D\/22\/7\/2.2-2297","metadata":false},{"id":79714,"structure_id":13623,"section_number":"2.2-2298","catch_line":"Authorization of bonds by resolution; contents of bond sale; manner","url":"\/2.2-2298\/","token":"2.2\/I\/D\/22\/7\/2.2-2298","metadata":false},{"id":67046,"structure_id":13623,"section_number":"2.2-2299","catch_line":"Resolution authorizing issuance of bonds; provisions","url":"\/2.2-2299\/","token":"2.2\/I\/D\/22\/7\/2.2-2299","metadata":false},{"id":71824,"structure_id":13623,"section_number":"2.2-2300","catch_line":"Pledge by Authority","url":"\/2.2-2300\/","token":"2.2\/I\/D\/22\/7\/2.2-2300","metadata":false},{"id":66573,"structure_id":13623,"section_number":"2.2-2301","catch_line":"Purchase of bonds of Authority","url":"\/2.2-2301\/","token":"2.2\/I\/D\/22\/7\/2.2-2301","metadata":false},{"id":76359,"structure_id":13623,"section_number":"2.2-2302","catch_line":"Bonds secured by indenture; contents; expenses; how treated","url":"\/2.2-2302\/","token":"2.2\/I\/D\/22\/7\/2.2-2302","metadata":false},{"id":68741,"structure_id":13623,"section_number":"2.2-2303","catch_line":"Signatures of prior members or officers; validity","url":"\/2.2-2303\/","token":"2.2\/I\/D\/22\/7\/2.2-2303","metadata":false},{"id":78197,"structure_id":13623,"section_number":"2.2-2304","catch_line":"Deposit of money; expenditures; security for deposits","url":"\/2.2-2304\/","token":"2.2\/I\/D\/22\/7\/2.2-2304","metadata":false},{"id":66422,"structure_id":13623,"section_number":"2.2-2305","catch_line":"Contracts with holders of bonds; how money secured","url":"\/2.2-2305\/","token":"2.2\/I\/D\/22\/7\/2.2-2305","metadata":false},{"id":63890,"structure_id":13623,"section_number":"2.2-2306","catch_line":"Bondholder protection","url":"\/2.2-2306\/","token":"2.2\/I\/D\/22\/7\/2.2-2306","metadata":false},{"id":76612,"structure_id":13623,"section_number":"2.2-2307","catch_line":"Bonds as legal investments and securities","url":"\/2.2-2307\/","token":"2.2\/I\/D\/22\/7\/2.2-2307","metadata":false},{"id":84851,"structure_id":13623,"section_number":"2.2-2308","catch_line":"Expenses of Authority; liability of Commonwealth or political subdivision prohibited","url":"\/2.2-2308\/","token":"2.2\/I\/D\/22\/7\/2.2-2308","metadata":false},{"id":85768,"structure_id":13623,"section_number":"2.2-2309","catch_line":"Creation, administration, and management of Virginia Export Fund","url":"\/2.2-2309\/","token":"2.2\/I\/D\/22\/7\/2.2-2309","metadata":false},{"id":54591,"structure_id":13623,"section_number":"2.2-2310","catch_line":"Creation, administration, and management of Virginia Small Business Growth Fund","url":"\/2.2-2310\/","token":"2.2\/I\/D\/22\/7\/2.2-2310","metadata":false},{"id":65463,"structure_id":13623,"section_number":"2.2-2311","catch_line":"Repealed","url":"\/2.2-2311\/","token":"2.2\/I\/D\/22\/7\/2.2-2311","metadata":false},{"id":60227,"structure_id":13623,"section_number":"2.2-2311.1","catch_line":"Creation, administration, and management of the Small, Women-owned, and Minority-owned Business Loan Fund","url":"\/2.2-2311.1\/","token":"2.2\/I\/D\/22\/7\/2.2-2311.1","metadata":false},{"id":66627,"structure_id":13623,"section_number":"2.2-2312","catch_line":"Annual report; audit","url":"\/2.2-2312\/","token":"2.2\/I\/D\/22\/7\/2.2-2312","metadata":false},{"id":67073,"structure_id":13623,"section_number":"2.2-2312.1","catch_line":"Risk-based review of outstanding loans; report","url":"\/2.2-2312.1\/","token":"2.2\/I\/D\/22\/7\/2.2-2312.1","metadata":false},{"id":82478,"structure_id":13623,"section_number":"2.2-2313","catch_line":"Exemption from taxation","url":"\/2.2-2313\/","token":"2.2\/I\/D\/22\/7\/2.2-2313","metadata":false},{"id":86107,"structure_id":13623,"section_number":"2.2-2314","catch_line":"Administrative Process Act not applicable","url":"\/2.2-2314\/","token":"2.2\/I\/D\/22\/7\/2.2-2314","metadata":false}],"previous_section":{"id":78197,"structure_id":13623,"section_number":"2.2-2304","catch_line":"Deposit of money; expenditures; security for deposits","url":"\/2.2-2304\/","token":"2.2\/I\/D\/22\/7\/2.2-2304","metadata":false},"next_section":{"id":63890,"structure_id":13623,"section_number":"2.2-2306","catch_line":"Bondholder protection","url":"\/2.2-2306\/","token":"2.2\/I\/D\/22\/7\/2.2-2306","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/2.2-2305\/","history_text":"<p>This law was first created in 1984. The record of its establishment is cataloged in chapter 749 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1984 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. 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. That modification is as follows: in 2001, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?011+ful+CHAP0844\">844<\/a>.<\/p>","references":[{"id":84552,"section_number":"2.2-2285","catch_line":"Powers of the Authority","order_by":null,"url":"\/2.2-2285\/"}],"refers_to":[{"id":78197,"section_number":"2.2-2304","catch_line":"Deposit of money; expenditures; security for deposits","order_by":null,"url":"\/2.2-2304\/"}],"permalink":{"id":174567,"object_type":"law","relational_id":66422,"identifier":"2.2-2305","token":"2.2\/I\/D\/22\/7\/2.2-2305","url":"\/2.2-2305\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/2.2-2305\/","token":"2.2\/I\/D\/22\/7\/2.2-2305","dublin_core":{"Title":"Contracts with holders of bonds; how money secured","Type":"Text","Format":"text\/html","Identifier":"\u00a7 2.2-2305","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>Notwithstanding the provisions of \u00a7&nbsp;<a class=\"law\" title=\"Deposit of money; expenditures; security for deposits\" href=\"\/2.2-2304\/\">2.2-2304<\/a>, the <span class=\"dictionary\">Authority<\/span> may <span class=\"dictionary\">contract<\/span> with the holders of any of its <span class=\"dictionary\"><span class=\"dictionary\">bonds<\/span><\/span> as to the <span class=\"dictionary\">custody<\/span>, collection, securing, investment and payment of any money of the <span class=\"dictionary\">Authority<\/span> and of any money held in trust or otherwise for the payment of <span class=\"dictionary\"><span class=\"dictionary\">bonds<\/span><\/span>, and to carry out such <span class=\"dictionary\">contract<\/span>. Money held in trust or otherwise for the payment of <span class=\"dictionary\"><span class=\"dictionary\">bonds<\/span><\/span> or in any way to secure <span class=\"dictionary\"><span class=\"dictionary\">bonds<\/span><\/span> and deposits of money may be secured in the same manner as money of the <span class=\"dictionary\">Authority<\/span>, and all banks and trust companies are authorized to give security for the deposits.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nCONTRACTS WITH HOLDERS OF BONDS; HOW MONEY SECURED (\u00a7 2.2-2305)\n\nNotwithstanding the provisions of \u00a7 2.2-2304, the Authority may contract with\nthe holders of any of its bonds as to the custody, collection, securing,\ninvestment and payment of any money of the Authority and of any money held in\ntrust or otherwise for the payment of bonds, and to carry out such contract.\nMoney held in trust or otherwise for the payment of bonds or in any way to\nsecure bonds and deposits of money may be secured in the same manner as money of\nthe Authority, and all banks and trust companies are authorized to give security\nfor the deposits.\n\nHISTORY: 1984, c. 749, \u00a7 9-230; 2001, c. 844.","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}}