{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/23.1-1215.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/23.1-1215.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/23.1-1215.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/23.1-1215.html"}],"law_id":86127,"edition_id":1,"section_id":86127,"structure_id":15508,"section_number":"23.1-1215","catch_line":"Bonds made lawful investments","history":"1964, c. 607, \u00a7 23-30.34; 1966, c. 685; 2016, c. 588.","full_text":"All bonds issued by the Authority under the provisions of this article are securities (i) in which all public officers and bodies of the Commonwealth and its localities and political subdivisions and all insurance companies and associations, savings banks and savings institutions, including savings and loan associations, commercial banks and trust companies, beneficial and benevolent associations, administrators, guardians, executors, trustees, and other fiduciaries in the Commonwealth may properly and legally invest funds under their control and (ii) that may properly and legally be deposited with and received by any state officer or officer of a locality or any agency or political subdivision of the Commonwealth for any purpose for which the deposit of bonds or obligations is authorized by law.","order_by":null,"text":{"0":{"id":308447,"text":"All bonds issued by the Authority under the provisions of this article are securities (i) in which all public officers and bodies of the Commonwealth and its localities and political subdivisions and all insurance companies and associations, savings banks and savings institutions, including savings and loan associations, commercial banks and trust companies, beneficial and benevolent associations, administrators, guardians, executors, trustees, and other fiduciaries in the Commonwealth may properly and legally invest funds under their control and (ii) that may properly and legally be deposited with and received by any state officer or officer of a locality or any agency or political subdivision of the Commonwealth for any purpose for which the deposit of bonds or obligations is authorized by law.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":15508,"edition_id":1,"name":"General Provisions; Powers and Duties","identifier":"1","label":"article","depth":4,"order_by":1,"parent_id":14345,"metadata":{},"date_created":"2026-06-26 03:55:39","date_modified":"2026-06-26 03:55:39","permalink":{"id":185737,"object_type":"structure","relational_id":15508,"identifier":"1","token":"23.1\/III\/12\/1","url":"\/23.1\/III\/12\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":14345,"edition_id":1,"name":"Virginia College Building Authority","identifier":"12","label":"chapter","depth":3,"order_by":1,"parent_id":14060,"metadata":{},"date_created":"2026-06-26 03:47:49","date_modified":"2026-06-26 03:47:49","permalink":{"id":185735,"object_type":"structure","relational_id":14345,"identifier":"12","token":"23.1\/III\/12","url":"\/23.1\/III\/12\/","edition_id":1,"permalink":0,"preferred":1}},{"id":14060,"edition_id":1,"name":"Management and Financing","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":13111,"metadata":{},"date_created":"2026-06-26 03:46:44","date_modified":"2026-06-26 03:46:44","permalink":{"id":185513,"object_type":"structure","relational_id":14060,"identifier":"III","token":"23.1\/III","url":"\/23.1\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13111,"edition_id":1,"name":"Institutions of Higher Education; Other Educational and Cultural Institutions","identifier":"23.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:18","date_modified":"2026-06-26 03:44:18","permalink":{"id":184581,"object_type":"structure","relational_id":13111,"identifier":"23.1","token":"23.1","url":"\/23.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":84904,"structure_id":15508,"section_number":"23.1-1200","catch_line":"Definitions; findings","url":"\/23.1-1200\/","token":"23.1\/III\/12\/1\/23.1-1200","metadata":false},{"id":72257,"structure_id":15508,"section_number":"23.1-1201","catch_line":"Virginia College Building Authority established","url":"\/23.1-1201\/","token":"23.1\/III\/12\/1\/23.1-1201","metadata":false},{"id":83905,"structure_id":15508,"section_number":"23.1-1202","catch_line":"Action by Authority may be authorized by resolution","url":"\/23.1-1202\/","token":"23.1\/III\/12\/1\/23.1-1202","metadata":false},{"id":77677,"structure_id":15508,"section_number":"23.1-1203","catch_line":"Powers of Authority generally","url":"\/23.1-1203\/","token":"23.1\/III\/12\/1\/23.1-1203","metadata":false},{"id":86522,"structure_id":15508,"section_number":"23.1-1204","catch_line":"Duties; administration of assets, moneys, or obligations","url":"\/23.1-1204\/","token":"23.1\/III\/12\/1\/23.1-1204","metadata":false},{"id":73472,"structure_id":15508,"section_number":"23.1-1205","catch_line":"Powers; purchase or sale of bonds or other obligations of eligible institutions","url":"\/23.1-1205\/","token":"23.1\/III\/12\/1\/23.1-1205","metadata":false},{"id":71767,"structure_id":15508,"section_number":"23.1-1206","catch_line":"Powers; acquisition or disposition of equipment","url":"\/23.1-1206\/","token":"23.1\/III\/12\/1\/23.1-1206","metadata":false},{"id":71770,"structure_id":15508,"section_number":"23.1-1207","catch_line":"Powers; bonds of Authority generally","url":"\/23.1-1207\/","token":"23.1\/III\/12\/1\/23.1-1207","metadata":false},{"id":67521,"structure_id":15508,"section_number":"23.1-1208","catch_line":"Security for bonds","url":"\/23.1-1208\/","token":"23.1\/III\/12\/1\/23.1-1208","metadata":false},{"id":69367,"structure_id":15508,"section_number":"23.1-1209","catch_line":"Reserve fund; limitations","url":"\/23.1-1209\/","token":"23.1\/III\/12\/1\/23.1-1209","metadata":false},{"id":80005,"structure_id":15508,"section_number":"23.1-1210","catch_line":"Payment on bonds; pledge of revenues","url":"\/23.1-1210\/","token":"23.1\/III\/12\/1\/23.1-1210","metadata":false},{"id":83226,"structure_id":15508,"section_number":"23.1-1211","catch_line":"Default on payments","url":"\/23.1-1211\/","token":"23.1\/III\/12\/1\/23.1-1211","metadata":false},{"id":81001,"structure_id":15508,"section_number":"23.1-1212","catch_line":"Investment of funds","url":"\/23.1-1212\/","token":"23.1\/III\/12\/1\/23.1-1212","metadata":false},{"id":80486,"structure_id":15508,"section_number":"23.1-1213","catch_line":"Enforcement of rights and duties by bondholder or trustee under trust indenture","url":"\/23.1-1213\/","token":"23.1\/III\/12\/1\/23.1-1213","metadata":false},{"id":67372,"structure_id":15508,"section_number":"23.1-1214","catch_line":"Exemption of bonds from taxation","url":"\/23.1-1214\/","token":"23.1\/III\/12\/1\/23.1-1214","metadata":false},{"id":86127,"structure_id":15508,"section_number":"23.1-1215","catch_line":"Bonds made lawful investments","url":"\/23.1-1215\/","token":"23.1\/III\/12\/1\/23.1-1215","metadata":false},{"id":86824,"structure_id":15508,"section_number":"23.1-1216","catch_line":"Annual report; examination of records, books, and accounts","url":"\/23.1-1216\/","token":"23.1\/III\/12\/1\/23.1-1216","metadata":false},{"id":69836,"structure_id":15508,"section_number":"23.1-1217","catch_line":"Annual audit","url":"\/23.1-1217\/","token":"23.1\/III\/12\/1\/23.1-1217","metadata":false},{"id":83690,"structure_id":15508,"section_number":"23.1-1218","catch_line":"Article liberally construed; powers of Authority not subject to supervision by certain entities","url":"\/23.1-1218\/","token":"23.1\/III\/12\/1\/23.1-1218","metadata":false},{"id":59107,"structure_id":15508,"section_number":"23.1-1219","catch_line":"Jurisdiction of suits against Authority; service of process","url":"\/23.1-1219\/","token":"23.1\/III\/12\/1\/23.1-1219","metadata":false}],"previous_section":{"id":67372,"structure_id":15508,"section_number":"23.1-1214","catch_line":"Exemption of bonds from taxation","url":"\/23.1-1214\/","token":"23.1\/III\/12\/1\/23.1-1214","metadata":false},"next_section":{"id":86824,"structure_id":15508,"section_number":"23.1-1216","catch_line":"Annual report; examination of records, books, and accounts","url":"\/23.1-1216\/","token":"23.1\/III\/12\/1\/23.1-1216","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/23.1-1215\/","history_text":"<p>This law was first created in 1964. The record of its establishment is cataloged in chapter 607 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 1964 \u201cActs\u201d aren\u2019t available online. It has been modified 2 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 1966, chapter 685; in 2016, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?161+ful+CHAP0588\">588<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":185799,"object_type":"law","relational_id":86127,"identifier":"23.1-1215","token":"23.1\/III\/12\/1\/23.1-1215","url":"\/23.1-1215\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/23.1-1215\/","token":"23.1\/III\/12\/1\/23.1-1215","dublin_core":{"Title":"Bonds made lawful investments","Type":"Text","Format":"text\/html","Identifier":"\u00a7 23.1-1215","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>All <span class=\"dictionary\">bonds<\/span> issued by the Authority under the provisions of this article are securities (i) in which all public officers and bodies of the Commonwealth and its localities and political subdivisions and all insurance companies and associations, savings banks and savings institutions, including savings and loan associations, commercial banks and trust companies, beneficial and benevolent associations, administrators, guardians, executors, trustees, and other fiduciaries in the Commonwealth may properly and legally invest funds under their control and (ii) that may properly and legally be deposited with and received by any state officer or officer of a locality or any agency or political subdivision of the Commonwealth for any purpose for which the deposit of <span class=\"dictionary\">bonds<\/span> or obligations is authorized by <span class=\"dictionary\">law<\/span>.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nBONDS MADE LAWFUL INVESTMENTS (\u00a7 23.1-1215)\n\nAll bonds issued by the Authority under the provisions of this article are\nsecurities (i) in which all public officers and bodies of the Commonwealth and\nits localities and political subdivisions and all insurance companies and\nassociations, savings banks and savings institutions, including savings and loan\nassociations, commercial banks and trust companies, beneficial and benevolent\nassociations, administrators, guardians, executors, trustees, and other\nfiduciaries in the Commonwealth may properly and legally invest funds under\ntheir control and (ii) that may properly and legally be deposited with and\nreceived by any state officer or officer of a locality or any agency or\npolitical subdivision of the Commonwealth for any purpose for which the deposit\nof bonds or obligations is authorized by law.\n\nHISTORY: 1964, c. 607, \u00a7 23-30.34; 1966, c. 685; 2016, c. 588.","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}}