{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/36-55.49.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/36-55.49.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/36-55.49.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/36-55.49.html"}],"law_id":65639,"edition_id":1,"section_id":65639,"structure_id":13116,"section_number":"36-55.49","catch_line":"Notes and bonds as legal investments","history":"1972, c. 830; 1975, c. 536.","full_text":"The notes and bonds of HDA shall be legal investments in which all public officers and public bodies of this Commonwealth, its political subdivisions, all municipalities and municipal subdivisions, all insurance companies and associations and other persons carrying on an insurance business, all banks, bankers, banking associations, trust companies, savings banks, and savings associations, including savings and loan associations, building and loan associations, investment companies and other persons carrying on a banking business, all administrators, guardians, executors, trustees and other fiduciaries, and all other persons whatsoever who are now or may hereafter be authorized to invest in bonds or in other obligations of the Commonwealth, may properly and legally invest funds, including capital, in their control or belonging to them. The notes and bonds are also hereby made securities which may properly and legally be deposited with and received by all public officers and bodies of the Commonwealth or any agency or political subdivisions of the Commonwealth and all municipalities and public corporations for any purpose for which the deposit of bonds or other obligations of the Commonwealth is now or may hereafter be authorized by law including but not limited to security for deposits pursuant to Chapter 44 (\u00a7 2.2-4400 et seq.) of Title 2.2 and amendments thereto.","order_by":null,"text":{"0":{"id":238565,"text":"The notes and bonds of HDA shall be legal investments in which all public officers and public bodies of this Commonwealth, its political subdivisions, all municipalities and municipal subdivisions, all insurance companies and associations and other persons carrying on an insurance business, all banks, bankers, banking associations, trust companies, savings banks, and savings associations, including savings and loan associations, building and loan associations, investment companies and other persons carrying on a banking business, all administrators, guardians, executors, trustees and other fiduciaries, and all other persons whatsoever who are now or may hereafter be authorized to invest in bonds or in other obligations of the Commonwealth, may properly and legally invest funds, including capital, in their control or belonging to them. The notes and bonds are also hereby made securities which may properly and legally be deposited with and received by all public officers and bodies of the Commonwealth or any agency or political subdivisions of the Commonwealth and all municipalities and public corporations for any purpose for which the deposit of bonds or other obligations of the Commonwealth is now or may hereafter be authorized by law including but not limited to security for deposits pursuant to Chapter 44 (\u00a7 2.2-4400 et seq.) of Title 2.2 and amendments thereto.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13116,"edition_id":1,"name":"Virginia Housing Development Authority Act","identifier":"1.2","label":"chapter","depth":2,"order_by":1,"parent_id":12779,"metadata":{},"date_created":"2026-06-26 03:44:18","date_modified":"2026-06-26 03:44:18","permalink":{"id":208615,"object_type":"structure","relational_id":13116,"identifier":"1.2","token":"36\/1.2","url":"\/36\/1.2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12779,"edition_id":1,"name":"Housing","identifier":"36","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:52","date_modified":"2026-06-26 03:43:52","permalink":{"id":208257,"object_type":"structure","relational_id":12779,"identifier":"36","token":"36","url":"\/36\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":54925,"structure_id":13116,"section_number":"36-55.24","catch_line":"Short title","url":"\/36-55.24\/","token":"36\/1.2\/36-55.24","metadata":false},{"id":67716,"structure_id":13116,"section_number":"36-55.25","catch_line":"Finding and declaration of necessity","url":"\/36-55.25\/","token":"36\/1.2\/36-55.25","metadata":false},{"id":70563,"structure_id":13116,"section_number":"36-55.26","catch_line":"Definitions","url":"\/36-55.26\/","token":"36\/1.2\/36-55.26","metadata":false},{"id":57123,"structure_id":13116,"section_number":"36-55.27","catch_line":"Virginia Housing Development Authority continued; constituted a public instrumentality","url":"\/36-55.27\/","token":"36\/1.2\/36-55.27","metadata":false},{"id":56888,"structure_id":13116,"section_number":"36-55.27:1","catch_line":"Programs and regulations to implement the Consolidated Plan","url":"\/36-55.27_1\/","token":"36\/1.2\/36-55.27_1","metadata":false},{"id":71487,"structure_id":13116,"section_number":"36-55.28","catch_line":"Appointment and tenure of commissioners; officers; quorum; compensation; liability","url":"\/36-55.28\/","token":"36\/1.2\/36-55.28","metadata":false},{"id":55520,"structure_id":13116,"section_number":"36-55.29","catch_line":"Executive director","url":"\/36-55.29\/","token":"36\/1.2\/36-55.29","metadata":false},{"id":76665,"structure_id":13116,"section_number":"36-55.30","catch_line":"Powers of HDA generally","url":"\/36-55.30\/","token":"36\/1.2\/36-55.30","metadata":false},{"id":75266,"structure_id":13116,"section_number":"36-55.30:1","catch_line":"Repealed","url":"\/36-55.30_1\/","token":"36\/1.2\/36-55.30_1","metadata":false},{"id":54150,"structure_id":13116,"section_number":"36-55.30:2","catch_line":"Housing revitalization areas; economically mixed projects","url":"\/36-55.30_2\/","token":"36\/1.2\/36-55.30_2","metadata":false},{"id":62068,"structure_id":13116,"section_number":"36-55.30:3","catch_line":"Regulations; adoption procedures","url":"\/36-55.30_3\/","token":"36\/1.2\/36-55.30_3","metadata":false},{"id":63704,"structure_id":13116,"section_number":"36-55.31","catch_line":"Powers relative to making mortgage loans and temporary construction loans to housing sponsors and persons and families of low and moderate income","url":"\/36-55.31\/","token":"36\/1.2\/36-55.31","metadata":false},{"id":79161,"structure_id":13116,"section_number":"36-55.31:1","catch_line":"Loans for installation of certain energy-saving devices","url":"\/36-55.31_1\/","token":"36\/1.2\/36-55.31_1","metadata":false},{"id":76634,"structure_id":13116,"section_number":"36-55.32","catch_line":"Powers relative to purchase and sale to mortgage lenders of mortgage loans; loans to mortgage lenders","url":"\/36-55.32\/","token":"36\/1.2\/36-55.32","metadata":false},{"id":70770,"structure_id":13116,"section_number":"36-55.33","catch_line":"Repealed","url":"\/36-55.33\/","token":"36\/1.2\/36-55.33","metadata":false},{"id":85938,"structure_id":13116,"section_number":"36-55.33:1","catch_line":"Mortgage loan terms and conditions","url":"\/36-55.33_1\/","token":"36\/1.2\/36-55.33_1","metadata":false},{"id":64397,"structure_id":13116,"section_number":"36-55.33:2","catch_line":"Powers relative to acquisition, development and ownership by HDA of multi-family residential housing","url":"\/36-55.33_2\/","token":"36\/1.2\/36-55.33_2","metadata":false},{"id":77047,"structure_id":13116,"section_number":"36-55.34","catch_line":"Repealed","url":"\/36-55.34\/","token":"36\/1.2\/36-55.34","metadata":false},{"id":58416,"structure_id":13116,"section_number":"36-55.34:1","catch_line":"Power to supervise housing sponsors","url":"\/36-55.34_1\/","token":"36\/1.2\/36-55.34_1","metadata":false},{"id":61595,"structure_id":13116,"section_number":"36-55.34:2","catch_line":"Power to enter into agreements with owners of housing developments eligible for federal low-income housing credits","url":"\/36-55.34_2\/","token":"36\/1.2\/36-55.34_2","metadata":false},{"id":63859,"structure_id":13116,"section_number":"36-55.35","catch_line":"Terms and conditions of purchase from and sale to mortgage lenders of mortgage loans; loans to mortgage lenders","url":"\/36-55.35\/","token":"36\/1.2\/36-55.35","metadata":false},{"id":76002,"structure_id":13116,"section_number":"36-55.36","catch_line":"Terms and conditions of mortgage insurance","url":"\/36-55.36\/","token":"36\/1.2\/36-55.36","metadata":false},{"id":58720,"structure_id":13116,"section_number":"36-55.36:1","catch_line":"Power to create insurance funds and form corporations for the purpose of insuring HDA mortgage loans","url":"\/36-55.36_1\/","token":"36\/1.2\/36-55.36_1","metadata":false},{"id":76281,"structure_id":13116,"section_number":"36-55.37","catch_line":"Exemption from taxation","url":"\/36-55.37\/","token":"36\/1.2\/36-55.37","metadata":false},{"id":70238,"structure_id":13116,"section_number":"36-55.37:1","catch_line":"Repealed","url":"\/36-55.37_1\/","token":"36\/1.2\/36-55.37_1","metadata":false},{"id":73470,"structure_id":13116,"section_number":"36-55.38","catch_line":"Admission and income limitations relative to housing developments","url":"\/36-55.38\/","token":"36\/1.2\/36-55.38","metadata":false},{"id":70596,"structure_id":13116,"section_number":"36-55.39","catch_line":"Procedure prior to financing of housing developments undertaken by housing sponsors","url":"\/36-55.39\/","token":"36\/1.2\/36-55.39","metadata":false},{"id":59570,"structure_id":13116,"section_number":"36-55.40","catch_line":"Notes and bonds","url":"\/36-55.40\/","token":"36\/1.2\/36-55.40","metadata":false},{"id":60236,"structure_id":13116,"section_number":"36-55.41","catch_line":"Reserve funds and appropriations","url":"\/36-55.41\/","token":"36\/1.2\/36-55.41","metadata":false},{"id":73160,"structure_id":13116,"section_number":"36-55.42","catch_line":"Refunding obligations; issuance","url":"\/36-55.42\/","token":"36\/1.2\/36-55.42","metadata":false},{"id":87248,"structure_id":13116,"section_number":"36-55.43","catch_line":"Same; sale","url":"\/36-55.43\/","token":"36\/1.2\/36-55.43","metadata":false},{"id":55926,"structure_id":13116,"section_number":"36-55.44","catch_line":"Deposit and investment of moneys of HDA","url":"\/36-55.44\/","token":"36\/1.2\/36-55.44","metadata":false},{"id":85356,"structure_id":13116,"section_number":"36-55.44:1","catch_line":"Swap agreements by HDA authorized","url":"\/36-55.44_1\/","token":"36\/1.2\/36-55.44_1","metadata":false},{"id":87234,"structure_id":13116,"section_number":"36-55.45","catch_line":"Agreement with Commonwealth","url":"\/36-55.45\/","token":"36\/1.2\/36-55.45","metadata":false},{"id":64957,"structure_id":13116,"section_number":"36-55.46","catch_line":"Commonwealth not liable on notes and bonds","url":"\/36-55.46\/","token":"36\/1.2\/36-55.46","metadata":false},{"id":78753,"structure_id":13116,"section_number":"36-55.47","catch_line":"Remedies of noteholders and bondholders","url":"\/36-55.47\/","token":"36\/1.2\/36-55.47","metadata":false},{"id":72915,"structure_id":13116,"section_number":"36-55.48","catch_line":"Grants from Commonwealth","url":"\/36-55.48\/","token":"36\/1.2\/36-55.48","metadata":false},{"id":65639,"structure_id":13116,"section_number":"36-55.49","catch_line":"Notes and bonds as legal investments","url":"\/36-55.49\/","token":"36\/1.2\/36-55.49","metadata":false},{"id":67775,"structure_id":13116,"section_number":"36-55.50","catch_line":"Liberal construction","url":"\/36-55.50\/","token":"36\/1.2\/36-55.50","metadata":false},{"id":71544,"structure_id":13116,"section_number":"36-55.51","catch_line":"Reports","url":"\/36-55.51\/","token":"36\/1.2\/36-55.51","metadata":false},{"id":70076,"structure_id":13116,"section_number":"36-55.51:1","catch_line":"Annual audit","url":"\/36-55.51_1\/","token":"36\/1.2\/36-55.51_1","metadata":false},{"id":81339,"structure_id":13116,"section_number":"36-55.52","catch_line":"Inconsistent provisions in other laws superseded","url":"\/36-55.52\/","token":"36\/1.2\/36-55.52","metadata":false}],"previous_section":{"id":72915,"structure_id":13116,"section_number":"36-55.48","catch_line":"Grants from Commonwealth","url":"\/36-55.48\/","token":"36\/1.2\/36-55.48","metadata":false},"next_section":{"id":67775,"structure_id":13116,"section_number":"36-55.50","catch_line":"Liberal construction","url":"\/36-55.50\/","token":"36\/1.2\/36-55.50","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/36-55.49\/","history_text":"<p>This law was first created in 1972. The record of its establishment is cataloged in chapter 830 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 1972 \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 1975, chapter 536.<\/p>","references":false,"refers_to":[{"id":63923,"section_number":"2.2-4400","catch_line":"Short title; declaration of intent; applicability","order_by":null,"url":"\/2.2-4400\/"}],"permalink":{"id":208765,"object_type":"law","relational_id":65639,"identifier":"36-55.49","token":"36\/1.2\/36-55.49","url":"\/36-55.49\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/36-55.49\/","token":"36\/1.2\/36-55.49","dublin_core":{"Title":"Notes and bonds as legal investments","Type":"Text","Format":"text\/html","Identifier":"\u00a7 36-55.49","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>The notes and <span class=\"dictionary\">bonds<\/span> of <span class=\"dictionary\">HDA<\/span> shall be legal investments in which all public officers and public bodies of this Commonwealth, its political subdivisions, all municipalities and municipal subdivisions, all insurance companies and associations and other persons carrying on an insurance business, all banks, bankers, banking associations, trust companies, savings banks, and savings associations, including savings and loan associations, building and loan associations, investment companies and other persons carrying on a banking business, all administrators, guardians, executors, trustees and other fiduciaries, and all other persons whatsoever who are now or may hereafter be authorized to invest in <span class=\"dictionary\">bonds<\/span> or in <span class=\"dictionary\">other obligations<\/span> of the Commonwealth, may properly and legally invest funds, including capital, in their control or belonging to them. The notes and <span class=\"dictionary\">bonds<\/span> are also hereby made securities which may properly and legally be deposited with and received by all public officers and bodies of the Commonwealth or any agency or political subdivisions of the Commonwealth and all municipalities and public corporations for any purpose for which the deposit of <span class=\"dictionary\">bonds<\/span> or <span class=\"dictionary\">other obligations<\/span> of the Commonwealth is now or may hereafter be authorized by <span class=\"dictionary\">law<\/span> including but not limited to security for deposits pursuant to Chapter 44 (\u00a7&nbsp;<a class=\"law\" title=\"Short title; declaration of intent; applicability\" href=\"\/2.2-4400\/\">2.2-4400<\/a> et seq.) of Title 2.2 and amendments thereto.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nNOTES AND BONDS AS LEGAL INVESTMENTS (\u00a7 36-55.49)\n\nThe notes and bonds of HDA shall be legal investments in which all public\nofficers and public bodies of this Commonwealth, its political subdivisions, all\nmunicipalities and municipal subdivisions, all insurance companies and\nassociations and other persons carrying on an insurance business, all banks,\nbankers, banking associations, trust companies, savings banks, and savings\nassociations, including savings and loan associations, building and loan\nassociations, investment companies and other persons carrying on a banking\nbusiness, all administrators, guardians, executors, trustees and other\nfiduciaries, and all other persons whatsoever who are now or may hereafter be\nauthorized to invest in bonds or in other obligations of the Commonwealth, may\nproperly and legally invest funds, including capital, in their control or\nbelonging to them. The notes and bonds are also hereby made securities which may\nproperly and legally be deposited with and received by all public officers and\nbodies of the Commonwealth or any agency or political subdivisions of the\nCommonwealth and all municipalities and public corporations for any purpose for\nwhich the deposit of bonds or other obligations of the Commonwealth is now or\nmay hereafter be authorized by law including but not limited to security for\ndeposits pursuant to Chapter 44 (\u00a7 2.2-4400 et seq.) of Title 2.2 and\namendments thereto.\n\nHISTORY: 1972, c. 830; 1975, c. 536.","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}}