{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/2.2-4601.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/2.2-4601.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/2.2-4601.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/2.2-4601.html"}],"law_id":62726,"edition_id":1,"section_id":62726,"structure_id":14263,"section_number":"2.2-4601","catch_line":"Findings and purpose","history":"1980, c. 538, \u00a7 2.1-234.2; 2001, c. 844.","full_text":"A\n\nThe General Assembly finds that the public interest is served by maximum and prudent investment of public funds so that the need for taxes and other public revenues is decreased commensurately with the earnings on such investments. In selecting among avenues of investment, the highest rate of return, consistent with safety and liquidity, shall be the objective.B\n\nThe purpose of this chapter is to secure the maximum public benefit from the investment of public funds, and, in furtherance of such purposes to:1\n\nEstablish and maintain a continuing statewide policy for the deposit and investment of public funds;2\n\nEstablish a state-administered pool for the investment of local government funds; and3\n\nAuthorize treasurers or any other person collecting, disbursing, or otherwise handling public funds to invest such public funds either in accordance with Chapter 45 (§ 2.2-4500 et seq.) of this title or through the local government investment pool created by the chapter.C\n\nThe General Assembly finds that the objectives of this chapter will best be obtained through improved money management, emphasizing the primary requirements of safety and liquidity and recognizing the different investment objectives of operating and permanent funds.","order_by":null,"text":{"0":{"id":228706,"text":"The General Assembly finds that the public interest is served by maximum and prudent investment of public funds so that the need for taxes and other public revenues is decreased commensurately with the earnings on such investments. In selecting among avenues of investment, the highest rate of return, consistent with safety and liquidity, shall be the objective.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":228707,"text":"The purpose of this chapter is to secure the maximum public benefit from the investment of public funds, and, in furtherance of such purposes to:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B1"},"2":{"id":228708,"text":"Establish and maintain a continuing statewide policy for the deposit and investment of public funds;","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"3":{"id":228709,"text":"Establish a state-administered pool for the investment of local government funds; and","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"B3"},"4":{"id":228710,"text":"Authorize treasurers or any other person collecting, disbursing, or otherwise handling public funds to invest such public funds either in accordance with Chapter 45 (§ 2.2-4500 et seq.) of this title or through the local government investment pool created by the chapter.","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B2","next_prefix":"C"},"5":{"id":228711,"text":"The General Assembly finds that the objectives of this chapter will best be obtained through improved money management, emphasizing the primary requirements of safety and liquidity and recognizing the different investment objectives of operating and permanent funds.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B3"}},"ancestry":[{"id":14263,"edition_id":1,"name":"Local Government Investment Pool Act","identifier":"46","label":"chapter","depth":4,"order_by":1,"parent_id":12751,"metadata":{},"date_created":"2026-06-26 03:47:31","date_modified":"2026-06-26 03:47:31","permalink":{"id":177591,"object_type":"structure","relational_id":14263,"identifier":"46","token":"2.2\/II\/B\/46","url":"\/2.2\/II\/B\/46\/","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":55511,"structure_id":14263,"section_number":"2.2-4600","catch_line":"Short title; definitions","url":"\/2.2-4600\/","token":"2.2\/II\/B\/46\/2.2-4600","metadata":false},{"id":62726,"structure_id":14263,"section_number":"2.2-4601","catch_line":"Findings and purpose","url":"\/2.2-4601\/","token":"2.2\/II\/B\/46\/2.2-4601","metadata":false},{"id":76390,"structure_id":14263,"section_number":"2.2-4602","catch_line":"Local government investment pool created","url":"\/2.2-4602\/","token":"2.2\/II\/B\/46\/2.2-4602","metadata":false},{"id":85480,"structure_id":14263,"section_number":"2.2-4603","catch_line":"Investment authority","url":"\/2.2-4603\/","token":"2.2\/II\/B\/46\/2.2-4603","metadata":false},{"id":73232,"structure_id":14263,"section_number":"2.2-4604","catch_line":"Interfund pooling for investment purposes","url":"\/2.2-4604\/","token":"2.2\/II\/B\/46\/2.2-4604","metadata":false},{"id":72238,"structure_id":14263,"section_number":"2.2-4605","catch_line":"Powers of Treasury Board relating to the administration of local government investment pool","url":"\/2.2-4605\/","token":"2.2\/II\/B\/46\/2.2-4605","metadata":false},{"id":70016,"structure_id":14263,"section_number":"2.2-4606","catch_line":"Chapter controlling over inconsistent laws; powers supplemental","url":"\/2.2-4606\/","token":"2.2\/II\/B\/46\/2.2-4606","metadata":false}],"previous_section":{"id":55511,"structure_id":14263,"section_number":"2.2-4600","catch_line":"Short title; definitions","url":"\/2.2-4600\/","token":"2.2\/II\/B\/46\/2.2-4600","metadata":false},"next_section":{"id":76390,"structure_id":14263,"section_number":"2.2-4602","catch_line":"Local government investment pool created","url":"\/2.2-4602\/","token":"2.2\/II\/B\/46\/2.2-4602","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/2.2-4601\/","history_text":"

This law was first created in 1980. The record of its establishment is cataloged in chapter 538 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 1980 \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 844<\/a>.<\/p>","references":false,"refers_to":[{"id":65575,"section_number":"2.2-4500","catch_line":"Legal investments for public sinking funds","order_by":null,"url":"\/2.2-4500\/"}],"permalink":{"id":177597,"object_type":"law","relational_id":62726,"identifier":"2.2-4601","token":"2.2\/II\/B\/46\/2.2-4601","url":"\/2.2-4601\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/2.2-4601\/","token":"2.2\/II\/B\/46\/2.2-4601","dublin_core":{"Title":"Findings and purpose","Type":"Text","Format":"text\/html","Identifier":"\u00a7 2.2-4601","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The General Assembly finds that the public interest is served by maximum and prudent investment of public funds so that the need for taxes and other public revenues is decreased commensurately with the earnings on such investments. In selecting among avenues of investment, the highest rate of return, consistent with safety and liquidity, shall be the objective. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The purpose of this chapter is to secure the maximum public benefit from the investment of public funds, and, in furtherance of such purposes to: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Establish and maintain a continuing statewide policy for the deposit and investment of public funds; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Establish a state-administered pool for the investment of local government funds; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Authorize treasurers or any other person collecting, disbursing, or otherwise handling public funds to invest such public funds either in accordance with Chapter 45 (§ 2.2-4500<\/a> et seq.) of this title or through the local government investment pool created by the chapter. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The General Assembly finds that the objectives of this chapter will best be obtained through improved money management, emphasizing the primary requirements of safety and liquidity and recognizing the different investment objectives of operating and permanent funds. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nFINDINGS AND PURPOSE (\u00a7 2.2-4601)\n\nA. The General Assembly finds that the public interest is served by maximum and\nprudent investment of public funds so that the need for taxes and other public\nrevenues is decreased commensurately with the earnings on such investments. In\nselecting among avenues of investment, the highest rate of return, consistent\nwith safety and liquidity, shall be the objective.\n\nB. The purpose of this chapter is to secure the maximum public benefit from the\ninvestment of public funds, and, in furtherance of such purposes to:\n\n 1. Establish and maintain a continuing statewide policy for the deposit and\n investment of public funds;\n\n 2. Establish a state-administered pool for the investment of local government\n funds; and\n\n 3. Authorize treasurers or any other person collecting, disbursing, or\n otherwise handling public funds to invest such public funds either in\n accordance with Chapter 45 (§ 2.2-4500 et seq.) of this title or through\n the local government investment pool created by the chapter.\n\nC. The General Assembly finds that the objectives of this chapter will best be\nobtained through improved money management, emphasizing the primary requirements\nof safety and liquidity and recognizing the different investment objectives of\noperating and permanent funds.\n\nHISTORY: 1980, c. 538, \u00a7 2.1-234.2; 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}}