{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/2.2-4513.1.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/2.2-4513.1.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/2.2-4513.1.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/2.2-4513.1.html"}],"law_id":55021,"edition_id":1,"section_id":55021,"structure_id":13675,"section_number":"2.2-4513.1","catch_line":"Investment of funds in qualified investment pools","history":"2017, cc. 792, 819.","full_text":"A\n\nNotwithstanding the provisions of Article 1 (§ 15.2-1300 et seq.) of Chapter 13 of Title 15.2, in any locality in which the authority to invest moneys belonging to or within the control of the locality has been granted to its elected treasurer, the treasurer may act on behalf of his locality to become a participating political subdivision in qualified investment pools without an ordinance adopted by the locality approving a joint exercise of power agreement. For purposes of this section, “qualified investment pool” means a jointly administered investment pool organized as a trust fund pursuant to Article 1 of Chapter 13 of Title 15.2 that has a professional investment manager.B\n\nInvestments in qualified investment pools described in this section shall comply with the requirements of this chapter applicable to municipal corporations and other political subdivisions.C\n\nThe provisions of this section shall not apply to local trusts established pursuant to Article 8 (§ 15.2-1544 et seq.) of Chapter 15 of Title 15.2 to fund postemployment benefits other than pensions.","order_by":null,"text":{"0":{"id":201809,"text":"Notwithstanding the provisions of Article 1 (§ 15.2-1300 et seq.) of Chapter 13 of Title 15.2, in any locality in which the authority to invest moneys belonging to or within the control of the locality has been granted to its elected treasurer, the treasurer may act on behalf of his locality to become a participating political subdivision in qualified investment pools without an ordinance adopted by the locality approving a joint exercise of power agreement. For purposes of this section, “qualified investment pool” means a jointly administered investment pool organized as a trust fund pursuant to Article 1 of Chapter 13 of Title 15.2 that has a professional investment manager.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":201810,"text":"Investments in qualified investment pools described in this section shall comply with the requirements of this chapter applicable to municipal corporations and other political subdivisions.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":201811,"text":"The provisions of this section shall not apply to local trusts established pursuant to Article 8 (§ 15.2-1544 et seq.) of Chapter 15 of Title 15.2 to fund postemployment benefits other than pensions.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":13675,"edition_id":1,"name":"Investment of Public Funds Act","identifier":"45","label":"chapter","depth":4,"order_by":1,"parent_id":12751,"metadata":{},"date_created":"2026-06-26 03:45:32","date_modified":"2026-06-26 03:45:32","permalink":{"id":177505,"object_type":"structure","relational_id":13675,"identifier":"45","token":"2.2\/II\/B\/45","url":"\/2.2\/II\/B\/45\/","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":65575,"structure_id":13675,"section_number":"2.2-4500","catch_line":"Legal investments for public sinking funds","url":"\/2.2-4500\/","token":"2.2\/II\/B\/45\/2.2-4500","metadata":false},{"id":79828,"structure_id":13675,"section_number":"2.2-4501","catch_line":"Legal investments for other public funds","url":"\/2.2-4501\/","token":"2.2\/II\/B\/45\/2.2-4501","metadata":false},{"id":57079,"structure_id":13675,"section_number":"2.2-4502","catch_line":"Investment of funds of Commonwealth, political subdivisions, and public bodies in \"prime quality\" commercial paper","url":"\/2.2-4502\/","token":"2.2\/II\/B\/45\/2.2-4502","metadata":false},{"id":64306,"structure_id":13675,"section_number":"2.2-4503","catch_line":"Investments by Fairfax County finance director","url":"\/2.2-4503\/","token":"2.2\/II\/B\/45\/2.2-4503","metadata":false},{"id":58696,"structure_id":13675,"section_number":"2.2-4504","catch_line":"Investment of funds by the Commonwealth and political subdivisions in bankers' acceptances","url":"\/2.2-4504\/","token":"2.2\/II\/B\/45\/2.2-4504","metadata":false},{"id":71258,"structure_id":13675,"section_number":"2.2-4505","catch_line":"Investment in certificates representing ownership of treasury bond principal at maturity or its coupons for accrued periods","url":"\/2.2-4505\/","token":"2.2\/II\/B\/45\/2.2-4505","metadata":false},{"id":56721,"structure_id":13675,"section_number":"2.2-4506","catch_line":"Securities lending","url":"\/2.2-4506\/","token":"2.2\/II\/B\/45\/2.2-4506","metadata":false},{"id":72437,"structure_id":13675,"section_number":"2.2-4507","catch_line":"Investment of funds in overnight, term and open repurchase agreements","url":"\/2.2-4507\/","token":"2.2\/II\/B\/45\/2.2-4507","metadata":false},{"id":70891,"structure_id":13675,"section_number":"2.2-4508","catch_line":"Investment of certain public moneys in certain mutual funds","url":"\/2.2-4508\/","token":"2.2\/II\/B\/45\/2.2-4508","metadata":false},{"id":69750,"structure_id":13675,"section_number":"2.2-4509","catch_line":"Investment of funds in negotiable certificates of deposit and negotiable bank deposit notes","url":"\/2.2-4509\/","token":"2.2\/II\/B\/45\/2.2-4509","metadata":false},{"id":69105,"structure_id":13675,"section_number":"2.2-4510","catch_line":"Investment of funds in corporate notes","url":"\/2.2-4510\/","token":"2.2\/II\/B\/45\/2.2-4510","metadata":false},{"id":83850,"structure_id":13675,"section_number":"2.2-4511","catch_line":"Investment of funds in asset-backed securities","url":"\/2.2-4511\/","token":"2.2\/II\/B\/45\/2.2-4511","metadata":false},{"id":74665,"structure_id":13675,"section_number":"2.2-4512","catch_line":"Investment of funds by State Treasurer in obligations of foreign sovereign governments","url":"\/2.2-4512\/","token":"2.2\/II\/B\/45\/2.2-4512","metadata":false},{"id":69524,"structure_id":13675,"section_number":"2.2-4513","catch_line":"Investments by transportation commissions","url":"\/2.2-4513\/","token":"2.2\/II\/B\/45\/2.2-4513","metadata":false},{"id":55021,"structure_id":13675,"section_number":"2.2-4513.1","catch_line":"Investment of funds in qualified investment pools","url":"\/2.2-4513.1\/","token":"2.2\/II\/B\/45\/2.2-4513.1","metadata":false},{"id":87084,"structure_id":13675,"section_number":"2.2-4514","catch_line":"Commonwealth and its political subdivisions as trustee of public funds; standard of care in investing such funds","url":"\/2.2-4514\/","token":"2.2\/II\/B\/45\/2.2-4514","metadata":false},{"id":80678,"structure_id":13675,"section_number":"2.2-4515","catch_line":"Collateral and safekeeping arrangements","url":"\/2.2-4515\/","token":"2.2\/II\/B\/45\/2.2-4515","metadata":false},{"id":82442,"structure_id":13675,"section_number":"2.2-4516","catch_line":"Liability of treasurers or public depositors","url":"\/2.2-4516\/","token":"2.2\/II\/B\/45\/2.2-4516","metadata":false},{"id":54653,"structure_id":13675,"section_number":"2.2-4517","catch_line":"Contracts on interest rates, currency, cash flow or on other basis","url":"\/2.2-4517\/","token":"2.2\/II\/B\/45\/2.2-4517","metadata":false},{"id":66499,"structure_id":13675,"section_number":"2.2-4518","catch_line":"Investment of funds in deposits","url":"\/2.2-4518\/","token":"2.2\/II\/B\/45\/2.2-4518","metadata":false},{"id":82053,"structure_id":13675,"section_number":"2.2-4519","catch_line":"Investment of funds by the Virginia Housing Development Authority and the Virginia Resources Authority","url":"\/2.2-4519\/","token":"2.2\/II\/B\/45\/2.2-4519","metadata":false}],"previous_section":{"id":69524,"structure_id":13675,"section_number":"2.2-4513","catch_line":"Investments by transportation commissions","url":"\/2.2-4513\/","token":"2.2\/II\/B\/45\/2.2-4513","metadata":false},"next_section":{"id":87084,"structure_id":13675,"section_number":"2.2-4514","catch_line":"Commonwealth and its political subdivisions as trustee of public funds; standard of care in investing such funds","url":"\/2.2-4514\/","token":"2.2\/II\/B\/45\/2.2-4514","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/2.2-4513.1\/","history_text":"

This law was first created in 2017. The record of its establishment is cataloged in chapters 792<\/a> and 819<\/a> 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.<\/p>","references":false,"refers_to":[{"id":59950,"section_number":"15.2-1300","catch_line":"Joint exercise of powers by political subdivisions","order_by":null,"url":"\/15.2-1300\/"},{"id":66857,"section_number":"15.2-1544","catch_line":"Counties, cities, towns, school divisions, and certain political subdivisions may establish local trusts or equivalent arrangements to fund postemployment benefits other than pensions","order_by":null,"url":"\/15.2-1544\/"}],"permalink":{"id":177563,"object_type":"law","relational_id":55021,"identifier":"2.2-4513.1","token":"2.2\/II\/B\/45\/2.2-4513.1","url":"\/2.2-4513.1\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/2.2-4513.1\/","token":"2.2\/II\/B\/45\/2.2-4513.1","dublin_core":{"Title":"Investment of funds in qualified investment pools","Type":"Text","Format":"text\/html","Identifier":"\u00a7 2.2-4513.1","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Notwithstanding the provisions of Article 1 (§ 15.2-1300<\/a> et seq.) of Chapter 13 of Title 15.2, in any locality in which the authority to invest moneys belonging to or within the control of the locality has been granted to its elected treasurer, the treasurer may act on behalf of his locality to become a participating political subdivision in qualified investment pools<\/span> without an ordinance<\/span> adopted by the locality approving a joint exercise of power agreement. For purposes of this section, “qualified investment pool<\/span>” means a jointly administered investment pool organized as a trust fund pursuant to Article 1 of Chapter 13 of Title 15.2 that has a professional investment manager. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Investments in qualified investment pools<\/span> described in this section shall comply with the requirements of this chapter applicable to municipal corporations and other political subdivisions. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The provisions of this section shall not apply to local trusts established pursuant to Article 8 (§ 15.2-1544<\/a> et seq.) of Chapter 15 of Title 15.2 to fund postemployment benefits other than pensions. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nINVESTMENT OF FUNDS IN QUALIFIED INVESTMENT POOLS (\u00a7 2.2-4513.1)\n\nA. Notwithstanding the provisions of Article 1 (§ 15.2-1300 et seq.) of\nChapter 13 of Title 15.2, in any locality in which the authority to invest\nmoneys belonging to or within the control of the locality has been granted to\nits elected treasurer, the treasurer may act on behalf of his locality to become\na participating political subdivision in qualified investment pools without an\nordinance adopted by the locality approving a joint exercise of power agreement.\nFor purposes of this section, “qualified investment pool” means a\njointly administered investment pool organized as a trust fund pursuant to\nArticle 1 of Chapter 13 of Title 15.2 that has a professional investment\nmanager.\n\nB. Investments in qualified investment pools described in this section shall\ncomply with the requirements of this chapter applicable to municipal\ncorporations and other political subdivisions.\n\nC. The provisions of this section shall not apply to local trusts established\npursuant to Article 8 (§ 15.2-1544 et seq.) of Chapter 15 of Title 15.2 to\nfund postemployment benefits other than pensions.\n\nHISTORY: 2017, cc. 792, 819.","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}}