{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/2.2-4405.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/2.2-4405.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/2.2-4405.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/2.2-4405.html"}],"law_id":72652,"edition_id":1,"section_id":72652,"structure_id":13096,"section_number":"2.2-4405","catch_line":"Powers of Treasury Board relating to the administration of this chapter","history":"1973, c. 172, \u00a7 2.1-364; 2001, c. 844; 2009, c. 64; 2010, cc. 640, 674.","full_text":"The Treasury Board shall have power to:\n\n1\n\nMake and enforce regulations and guidelines necessary and proper to the full and complete performance of its functions under this chapter;2\n\nPrescribe and enforce regulations and guidelines fixing terms and conditions consistent with this chapter under which public deposits must be secured;3\n\nRequire additional collateral, in excess of the required collateral of any or all qualified public depositories as it may determine prudent under the circumstances;4\n\nDetermine what securities or instruments shall be acceptable as eligible collateral, and fix the percentage of face value or market value of such securities or instruments that can be used to secure public deposits;5\n\nEstablish guidelines to permit banks to withdraw from the procedures for the payment of losses under § 2.2-4403 and instead be governed by the procedures for the payment of losses under § 2.2-4404, consistent with the primary purpose of protecting public deposits;6\n\nRequire any qualified public depository to provide information concerning its public deposits as requested by the Treasury Board; and7\n\nDetermine when a default or insolvency has occurred and to take such action as it may deem advisable for the protection, collection, compromise or settlement of any claim arising in case of default or insolvency.","order_by":null,"text":{"0":{"id":261518,"text":"The Treasury Board shall have power to:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":261519,"text":"Make and enforce regulations and guidelines necessary and proper to the full and complete performance of its functions under this chapter;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":261520,"text":"Prescribe and enforce regulations and guidelines fixing terms and conditions consistent with this chapter under which public deposits must be secured;","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":261521,"text":"Require additional collateral, in excess of the required collateral of any or all qualified public depositories as it may determine prudent under the circumstances;","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":261522,"text":"Determine what securities or instruments shall be acceptable as eligible collateral, and fix the percentage of face value or market value of such securities or instruments that can be used to secure public deposits;","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3","next_prefix":"5"},"5":{"id":261523,"text":"Establish guidelines to permit banks to withdraw from the procedures for the payment of losses under § 2.2-4403 and instead be governed by the procedures for the payment of losses under § 2.2-4404, consistent with the primary purpose of protecting public deposits;","type":"section","prefixes":["5"],"prefix":"5","entire_prefix":"5","prefix_anchor":"5","level":1,"prior_prefix":"4","next_prefix":"6"},"6":{"id":261524,"text":"Require any qualified public depository to provide information concerning its public deposits as requested by the Treasury Board; and","type":"section","prefixes":["6"],"prefix":"6","entire_prefix":"6","prefix_anchor":"6","level":1,"prior_prefix":"5","next_prefix":"7"},"7":{"id":261525,"text":"Determine when a default or insolvency has occurred and to take such action as it may deem advisable for the protection, collection, compromise or settlement of any claim arising in case of default or insolvency.","type":"section","prefixes":["7"],"prefix":"7","entire_prefix":"7","prefix_anchor":"7","level":1,"prior_prefix":"6"}},"ancestry":[{"id":13096,"edition_id":1,"name":"Virginia Security for Public Deposits Act","identifier":"44","label":"chapter","depth":4,"order_by":1,"parent_id":12751,"metadata":{},"date_created":"2026-06-26 03:44:17","date_modified":"2026-06-26 03:44:17","permalink":{"id":177455,"object_type":"structure","relational_id":13096,"identifier":"44","token":"2.2\/II\/B\/44","url":"\/2.2\/II\/B\/44\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12751,"edition_id":1,"name":"Transaction of Public Business","identifier":"B","label":"part","depth":3,"order_by":1,"parent_id":12750,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":176445,"object_type":"structure","relational_id":12751,"identifier":"B","token":"2.2\/II\/B","url":"\/2.2\/II\/B\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12750,"edition_id":1,"name":"Administration of State Government","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12749,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":176253,"object_type":"structure","relational_id":12750,"identifier":"II","token":"2.2\/II","url":"\/2.2\/II\/","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":63923,"structure_id":13096,"section_number":"2.2-4400","catch_line":"Short title; declaration of intent; applicability","url":"\/2.2-4400\/","token":"2.2\/II\/B\/44\/2.2-4400","metadata":false},{"id":63362,"structure_id":13096,"section_number":"2.2-4401","catch_line":"Definitions","url":"\/2.2-4401\/","token":"2.2\/II\/B\/44\/2.2-4401","metadata":false},{"id":54139,"structure_id":13096,"section_number":"2.2-4402","catch_line":"Collateral for public deposits","url":"\/2.2-4402\/","token":"2.2\/II\/B\/44\/2.2-4402","metadata":false},{"id":81935,"structure_id":13096,"section_number":"2.2-4403","catch_line":"Procedure for payment of losses by pooled method","url":"\/2.2-4403\/","token":"2.2\/II\/B\/44\/2.2-4403","metadata":false},{"id":69042,"structure_id":13096,"section_number":"2.2-4404","catch_line":"Procedure for payment of losses by dedicated method","url":"\/2.2-4404\/","token":"2.2\/II\/B\/44\/2.2-4404","metadata":false},{"id":72652,"structure_id":13096,"section_number":"2.2-4405","catch_line":"Powers of Treasury Board relating to the administration of this chapter","url":"\/2.2-4405\/","token":"2.2\/II\/B\/44\/2.2-4405","metadata":false},{"id":56567,"structure_id":13096,"section_number":"2.2-4406","catch_line":"Subrogation of Treasury Board to depositor's rights; payment of sums received from distribution of assets","url":"\/2.2-4406\/","token":"2.2\/II\/B\/44\/2.2-4406","metadata":false},{"id":60400,"structure_id":13096,"section_number":"2.2-4407","catch_line":"Mandatory deposit of public funds in qualified public depositories","url":"\/2.2-4407\/","token":"2.2\/II\/B\/44\/2.2-4407","metadata":false},{"id":66458,"structure_id":13096,"section_number":"2.2-4408","catch_line":"Authority to make public deposits","url":"\/2.2-4408\/","token":"2.2\/II\/B\/44\/2.2-4408","metadata":false},{"id":58988,"structure_id":13096,"section_number":"2.2-4409","catch_line":"Authority to secure public deposits; acceptance of liabilities and duties by public depositories","url":"\/2.2-4409\/","token":"2.2\/II\/B\/44\/2.2-4409","metadata":false},{"id":63178,"structure_id":13096,"section_number":"2.2-4410","catch_line":"Liability of public depositors","url":"\/2.2-4410\/","token":"2.2\/II\/B\/44\/2.2-4410","metadata":false},{"id":86132,"structure_id":13096,"section_number":"2.2-4411","catch_line":"Reports of qualified public depositories","url":"\/2.2-4411\/","token":"2.2\/II\/B\/44\/2.2-4411","metadata":false}],"previous_section":{"id":69042,"structure_id":13096,"section_number":"2.2-4404","catch_line":"Procedure for payment of losses by dedicated method","url":"\/2.2-4404\/","token":"2.2\/II\/B\/44\/2.2-4404","metadata":false},"next_section":{"id":56567,"structure_id":13096,"section_number":"2.2-4406","catch_line":"Subrogation of Treasury Board to depositor's rights; payment of sums received from distribution of assets","url":"\/2.2-4406\/","token":"2.2\/II\/B\/44\/2.2-4406","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/2.2-4405\/","history_text":"

This law was first created in 1973. The record of its establishment is cataloged in chapter 172 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 1973 \u201cActs\u201d aren\u2019t available online. It has been modified 3 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 2001, chapter 844<\/a>; in 2009, chapter 64<\/a>; in 2010, chapters 640<\/a> and 674<\/a>.<\/p>","references":false,"refers_to":[{"id":81935,"section_number":"2.2-4403","catch_line":"Procedure for payment of losses by pooled method","order_by":null,"url":"\/2.2-4403\/"},{"id":69042,"section_number":"2.2-4404","catch_line":"Procedure for payment of losses by dedicated method","order_by":null,"url":"\/2.2-4404\/"}],"permalink":{"id":177477,"object_type":"law","relational_id":72652,"identifier":"2.2-4405","token":"2.2\/II\/B\/44\/2.2-4405","url":"\/2.2-4405\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/2.2-4405\/","token":"2.2\/II\/B\/44\/2.2-4405","dublin_core":{"Title":"Powers of Treasury Board relating to the administration of this chapter","Type":"Text","Format":"text\/html","Identifier":"\u00a7 2.2-4405","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The Treasury Board<\/span> shall have power to:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Make and enforce regulations and guidelines necessary and proper to the full and complete performance of its functions under this chapter; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Prescribe and enforce regulations and guidelines fixing terms and conditions consistent with this chapter under which public deposits<\/span> must be secured; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Require additional collateral, in excess of the required collateral<\/span> of any or all qualified public depositories as it may determine prudent under the circumstances; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Determine what securities or instruments shall be acceptable as eligible collateral<\/span>, and fix the percentage of face value or market value of such securities or instruments that can be used to secure public deposits<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Establish guidelines to permit banks to withdraw from the procedures for the payment of losses under § 2.2-4403<\/a> and instead be governed by the procedures for the payment of losses under § 2.2-4404<\/a>, consistent with the primary purpose of protecting public deposits<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> Require any qualified public depository<\/span> to provide information concerning its public deposits<\/span> as requested by the Treasury Board<\/span>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> Determine when a default<\/span> or insolvency has occurred and to take such action as it may deem advisable for the protection, collection, compromise or settlement<\/span> of any claim arising in case of default<\/span> or insolvency. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPOWERS OF TREASURY BOARD RELATING TO THE ADMINISTRATION OF THIS CHAPTER (\u00a7\n2.2-4405)\n\nThe Treasury Board shall have power to:\n\n1. Make and enforce regulations and guidelines necessary and proper to the full\nand complete performance of its functions under this chapter;\n\n2. Prescribe and enforce regulations and guidelines fixing terms and conditions\nconsistent with this chapter under which public deposits must be secured;\n\n3. Require additional collateral, in excess of the required collateral of any or\nall qualified public depositories as it may determine prudent under the\ncircumstances;\n\n4. Determine what securities or instruments shall be acceptable as eligible\ncollateral, and fix the percentage of face value or market value of such\nsecurities or instruments that can be used to secure public deposits;\n\n5. Establish guidelines to permit banks to withdraw from the procedures for the\npayment of losses under § 2.2-4403 and instead be governed by the\nprocedures for the payment of losses under § 2.2-4404, consistent with the\nprimary purpose of protecting public deposits;\n\n6. Require any qualified public depository to provide information concerning its\npublic deposits as requested by the Treasury Board; and\n\n7. Determine when a default or insolvency has occurred and to take such action\nas it may deem advisable for the protection, collection, compromise or\nsettlement of any claim arising in case of default or insolvency.\n\nHISTORY: 1973, c. 172, \u00a7 2.1-364; 2001, c. 844; 2009, c. 64; 2010, cc. 640,\n674.","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}}