{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1919.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1919.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1919.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1919.html"}],"law_id":57713,"edition_id":1,"section_id":57713,"structure_id":13061,"section_number":"6.2-1919","catch_line":"(Repealed effective July 1, 2026) Types of permissible investments.","history":"2009, c. 346, \u00a7 6.1-378.8; 2010, c. 794; 2014, c. 454; 2025, c. 214.","full_text":"A\n\nExcept to the extent otherwise limited by the Commission pursuant to \u00a7 6.2-1918, the following investments are permissible under \u00a7 6.2-1918:1\n\nCash, a certificate of deposit, or senior debt obligation of an insured depository institution, as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. § 1813).2\n\nA banker’s acceptance or bill of exchange that is eligible for purchase upon endorsement by a member bank of the Federal Reserve System and is eligible for purchase by a Federal Reserve Bank.3\n\nAn investment bearing a rating of one of the three highest grades, as defined by a nationally recognized organization that rates securities.4\n\nAn investment security that is an obligation of the United States or a department, agency, or instrumentality thereof; an investment in an obligation that is guaranteed fully as to principal and interest by the United States; or an investment in an obligation of a state or a governmental subdivision, agency, or instrumentality thereof.5\n\nReceivables that are payable to a licensee from its authorized delegates, pursuant to contracts and in the ordinary course of business, that are not past due or doubtful of collection. A receivable shall be deemed to be past due or doubtful of collection if the money owed to the licensee is not remitted within seven business days. However, the aggregate amount of receivables under this subdivision from any one person shall not comprise more than 10 percent of the licensee’s total permissible investments.6\n\nA share or a certificate issued by an open-end management investment company that is registered with the U.S. Securities and Exchange Commission under the Investment Companies Act of 1940 (15 U.S.C. § 80a-1 et seq.), and whose portfolio is restricted by the management company’s investment policy to investments specified in subdivisions 1 through 4.B\n\nThe following investments are permissible under \u00a7 6.2-1918, but only to the extent specified:1\n\nAn interest-bearing bill, note, bond, or debenture of a person whose equity shares are traded on a national securities exchange or on a national over-the-counter market, if the aggregate of investments under this subdivision does not exceed 20 percent of the total permissible investments of a licensee and the licensee does not at one time hold investments under this subdivision in any one person aggregating more than 10 percent of the licensee’s total permissible investments;2\n\nA share of a person traded on a national securities exchange or a national over-the-counter market or a share or a certificate issued by an open-end management investment company that is registered with the U.S. Securities and Exchange Commission under the Investment Companies Act of 1940 (15 U.S.C. § 80a-1 et seq.), and whose portfolio is restricted by the management company’s investment policy to shares of a person traded on a national securities exchange or a national over-the-counter market, if the aggregate of investments under this subdivision does not exceed 20 percent of the total permissible investments of a licensee and the licensee does not at one time hold investments in any one person aggregating more than 10 percent of the licensee’s total permissible investments;3\n\nA demand-borrowing agreement made to a corporation or a subsidiary of a corporation whose securities are traded on a national securities exchange if the aggregate of the amount of principal and interest outstanding under demand-borrowing agreements under this subdivision does not exceed 20 percent of the total permissible investments of a licensee and the licensee does not at one time hold principal and interest outstanding under demand-borrowing agreements under this subdivision with any one person aggregating more than 10 percent of the licensee’s total permissible investments; and4\n\nAny other investment the Commission designates, to the extent specified by the Commission.C\n\nThe aggregate of investments under subsection B may not exceed 50 percent of the total permissible investments of a licensee calculated in accordance with § 6.2-1918.","order_by":null,"text":{"0":{"id":211369,"text":"Except to the extent otherwise limited by the Commission pursuant to \u00a7 6.2-1918, the following investments are permissible under \u00a7 6.2-1918:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":211370,"text":"Cash, a certificate of deposit, or senior debt obligation of an insured depository institution, as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. § 1813).","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":211371,"text":"A banker’s acceptance or bill of exchange that is eligible for purchase upon endorsement by a member bank of the Federal Reserve System and is eligible for purchase by a Federal Reserve Bank.","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":211372,"text":"An investment bearing a rating of one of the three highest grades, as defined by a nationally recognized organization that rates securities.","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":211373,"text":"An investment security that is an obligation of the United States or a department, agency, or instrumentality thereof; an investment in an obligation that is guaranteed fully as to principal and interest by the United States; or an investment in an obligation of a state or a governmental subdivision, agency, or instrumentality thereof.","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"A5"},"5":{"id":211374,"text":"Receivables that are payable to a licensee from its authorized delegates, pursuant to contracts and in the ordinary course of business, that are not past due or doubtful of collection. A receivable shall be deemed to be past due or doubtful of collection if the money owed to the licensee is not remitted within seven business days. However, the aggregate amount of receivables under this subdivision from any one person shall not comprise more than 10 percent of the licensee’s total permissible investments.","type":"section","prefixes":["A","5"],"prefix":"5","entire_prefix":"A5","prefix_anchor":"A5","level":2,"prior_prefix":"A4","next_prefix":"A6"},"6":{"id":211375,"text":"A share or a certificate issued by an open-end management investment company that is registered with the U.S. Securities and Exchange Commission under the Investment Companies Act of 1940 (15 U.S.C. § 80a-1 et seq.), and whose portfolio is restricted by the management company’s investment policy to investments specified in subdivisions 1 through 4.","type":"section","prefixes":["A","6"],"prefix":"6","entire_prefix":"A6","prefix_anchor":"A6","level":2,"prior_prefix":"A5","next_prefix":"B"},"7":{"id":211376,"text":"The following investments are permissible under \u00a7 6.2-1918, but only to the extent specified:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A6","next_prefix":"B1"},"8":{"id":211377,"text":"An interest-bearing bill, note, bond, or debenture of a person whose equity shares are traded on a national securities exchange or on a national over-the-counter market, if the aggregate of investments under this subdivision does not exceed 20 percent of the total permissible investments of a licensee and the licensee does not at one time hold investments under this subdivision in any one person aggregating more than 10 percent of the licensee’s total permissible investments;","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"9":{"id":211378,"text":"A share of a person traded on a national securities exchange or a national over-the-counter market or a share or a certificate issued by an open-end management investment company that is registered with the U.S. Securities and Exchange Commission under the Investment Companies Act of 1940 (15 U.S.C. § 80a-1 et seq.), and whose portfolio is restricted by the management company’s investment policy to shares of a person traded on a national securities exchange or a national over-the-counter market, if the aggregate of investments under this subdivision does not exceed 20 percent of the total permissible investments of a licensee and the licensee does not at one time hold investments in any one person aggregating more than 10 percent of the licensee’s total permissible investments;","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"B3"},"10":{"id":211379,"text":"A demand-borrowing agreement made to a corporation or a subsidiary of a corporation whose securities are traded on a national securities exchange if the aggregate of the amount of principal and interest outstanding under demand-borrowing agreements under this subdivision does not exceed 20 percent of the total permissible investments of a licensee and the licensee does not at one time hold principal and interest outstanding under demand-borrowing agreements under this subdivision with any one person aggregating more than 10 percent of the licensee’s total permissible investments; and","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B2","next_prefix":"B4"},"11":{"id":211380,"text":"Any other investment the Commission designates, to the extent specified by the Commission.","type":"section","prefixes":["B","4"],"prefix":"4","entire_prefix":"B4","prefix_anchor":"B4","level":2,"prior_prefix":"B3","next_prefix":"C"},"12":{"id":211381,"text":"The aggregate of investments under subsection B may not exceed 50 percent of the total permissible investments of a licensee calculated in accordance with § 6.2-1918.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B4"}},"ancestry":[{"id":13061,"edition_id":1,"name":"Money Order Sellers and Money Transmitters","identifier":"19","label":"chapter","depth":3,"order_by":1,"parent_id":13060,"metadata":{},"date_created":"2026-06-26 03:44:12","date_modified":"2026-06-26 03:44:12","permalink":{"id":266381,"object_type":"structure","relational_id":13061,"identifier":"19","token":"6.2\/III\/19","url":"\/6.2\/III\/19\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13060,"edition_id":1,"name":"Other Regulated Providers of Financial Services","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12852,"metadata":{},"date_created":"2026-06-26 03:44:12","date_modified":"2026-06-26 03:44:12","permalink":{"id":265721,"object_type":"structure","relational_id":13060,"identifier":"III","token":"6.2\/III","url":"\/6.2\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12852,"edition_id":1,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263249,"object_type":"structure","relational_id":12852,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":61238,"structure_id":13061,"section_number":"6.2-1900","catch_line":"(Repealed effective July 1, 2026) Definitions.","url":"\/6.2-1900\/","token":"6.2\/III\/19\/6.2-1900","metadata":false},{"id":54114,"structure_id":13061,"section_number":"6.2-1901","catch_line":"(Repealed effective July 1, 2026) License required; exception.","url":"\/6.2-1901\/","token":"6.2\/III\/19\/6.2-1901","metadata":false},{"id":67579,"structure_id":13061,"section_number":"6.2-1902","catch_line":"(Repealed effective July 1, 2026) Scope and construction of chapter.","url":"\/6.2-1902\/","token":"6.2\/III\/19\/6.2-1902","metadata":false},{"id":54293,"structure_id":13061,"section_number":"6.2-1903","catch_line":"(Repealed effective July 1, 2026) Application for license; financial statements; application fee.","url":"\/6.2-1903\/","token":"6.2\/III\/19\/6.2-1903","metadata":false},{"id":63920,"structure_id":13061,"section_number":"6.2-1904","catch_line":"(Repealed effective July 1, 2026) Bond required","url":"\/6.2-1904\/","token":"6.2\/III\/19\/6.2-1904","metadata":false},{"id":55062,"structure_id":13061,"section_number":"6.2-1904.1","catch_line":"(Repealed effective July 1, 2026) Investigation of applications.","url":"\/6.2-1904.1\/","token":"6.2\/III\/19\/6.2-1904.1","metadata":false},{"id":74185,"structure_id":13061,"section_number":"6.2-1905","catch_line":"(Repealed effective July 1, 2026) Annual fees; expenses; annual reports; renewal.","url":"\/6.2-1905\/","token":"6.2\/III\/19\/6.2-1905","metadata":false},{"id":55250,"structure_id":13061,"section_number":"6.2-1906","catch_line":"(Repealed effective July 1, 2026) Conditions prerequisite to issuance of license; net worth requirement.","url":"\/6.2-1906\/","token":"6.2\/III\/19\/6.2-1906","metadata":false},{"id":79791,"structure_id":13061,"section_number":"6.2-1906.1","catch_line":"(Repealed effective July 1, 2026) Licenses; places of business; changes.","url":"\/6.2-1906.1\/","token":"6.2\/III\/19\/6.2-1906.1","metadata":false},{"id":67493,"structure_id":13061,"section_number":"6.2-1907","catch_line":"(Repealed effective July 1, 2026) License revocation.","url":"\/6.2-1907\/","token":"6.2\/III\/19\/6.2-1907","metadata":false},{"id":72990,"structure_id":13061,"section_number":"6.2-1908","catch_line":"(Repealed effective July 1, 2026) Notice of proposed revocation.","url":"\/6.2-1908\/","token":"6.2\/III\/19\/6.2-1908","metadata":false},{"id":85447,"structure_id":13061,"section_number":"6.2-1909","catch_line":"(Repealed effective July 1, 2026) Cease and desist orders.","url":"\/6.2-1909\/","token":"6.2\/III\/19\/6.2-1909","metadata":false},{"id":70239,"structure_id":13061,"section_number":"6.2-1910","catch_line":"(Repealed effective July 1, 2026) Investigations; examinations; reporting violations.","url":"\/6.2-1910\/","token":"6.2\/III\/19\/6.2-1910","metadata":false},{"id":69147,"structure_id":13061,"section_number":"6.2-1911","catch_line":"(Repealed effective July 1, 2026) Conduct of business through authorized delegates of licensee.","url":"\/6.2-1911\/","token":"6.2\/III\/19\/6.2-1911","metadata":false},{"id":74100,"structure_id":13061,"section_number":"6.2-1912","catch_line":"(Repealed effective July 1, 2026) Liability of licensee for payment of money order; money order to bear name of licensee.","url":"\/6.2-1912\/","token":"6.2\/III\/19\/6.2-1912","metadata":false},{"id":60663,"structure_id":13061,"section_number":"6.2-1913","catch_line":"(Repealed effective July 1, 2026) Regulations.","url":"\/6.2-1913\/","token":"6.2\/III\/19\/6.2-1913","metadata":false},{"id":54449,"structure_id":13061,"section_number":"6.2-1914","catch_line":"(Repealed effective July 1, 2026) Acquisition of control; application.","url":"\/6.2-1914\/","token":"6.2\/III\/19\/6.2-1914","metadata":false},{"id":72729,"structure_id":13061,"section_number":"6.2-1915","catch_line":"(Repealed effective July 1, 2026) Sale or issuance of bearer money orders; prohibition.","url":"\/6.2-1915\/","token":"6.2\/III\/19\/6.2-1915","metadata":false},{"id":83704,"structure_id":13061,"section_number":"6.2-1916","catch_line":"(Repealed effective July 1, 2026) Retention of books, accounts, and records","url":"\/6.2-1916\/","token":"6.2\/III\/19\/6.2-1916","metadata":false},{"id":57678,"structure_id":13061,"section_number":"6.2-1917","catch_line":"(Repealed effective July 1, 2026) Other reporting requirements.","url":"\/6.2-1917\/","token":"6.2\/III\/19\/6.2-1917","metadata":false},{"id":67148,"structure_id":13061,"section_number":"6.2-1918","catch_line":"(Repealed effective July 1, 2026) Maintenance of permissible investments.","url":"\/6.2-1918\/","token":"6.2\/III\/19\/6.2-1918","metadata":false},{"id":57713,"structure_id":13061,"section_number":"6.2-1919","catch_line":"(Repealed effective July 1, 2026) Types of permissible investments.","url":"\/6.2-1919\/","token":"6.2\/III\/19\/6.2-1919","metadata":false},{"id":57341,"structure_id":13061,"section_number":"6.2-1920","catch_line":"(Repealed effective July 1, 2026) Civil penalties.","url":"\/6.2-1920\/","token":"6.2\/III\/19\/6.2-1920","metadata":false},{"id":82261,"structure_id":13061,"section_number":"6.2-1921","catch_line":"(Repealed effective July 1, 2026) Criminal penalty.","url":"\/6.2-1921\/","token":"6.2\/III\/19\/6.2-1921","metadata":false}],"previous_section":{"id":67148,"structure_id":13061,"section_number":"6.2-1918","catch_line":"(Repealed effective July 1, 2026) Maintenance of permissible investments.","url":"\/6.2-1918\/","token":"6.2\/III\/19\/6.2-1918","metadata":false},"next_section":{"id":57341,"structure_id":13061,"section_number":"6.2-1920","catch_line":"(Repealed effective July 1, 2026) Civil penalties.","url":"\/6.2-1920\/","token":"6.2\/III\/19\/6.2-1920","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1919\/","history_text":"

This law was first created in 2009. The record of its establishment is cataloged in chapter 346<\/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. 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 2010, chapter 794<\/a>; in 2014, chapter 454<\/a>; in 2025, chapter 214<\/a>.<\/p>","references":false,"refers_to":[{"id":67148,"section_number":"6.2-1918","catch_line":"(Repealed effective July 1, 2026) Maintenance of permissible investments.","order_by":null,"url":"\/6.2-1918\/"}],"permalink":{"id":266467,"object_type":"law","relational_id":57713,"identifier":"6.2-1919","token":"6.2\/III\/19\/6.2-1919","url":"\/6.2-1919\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1919\/","token":"6.2\/III\/19\/6.2-1919","dublin_core":{"Title":"(Repealed effective July 1, 2026) Types of permissible investments.","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1919","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Except to the extent otherwise limited by the Commission<\/span> pursuant to \u00a7 6.2-1918<\/a>, the following investments are permissible under \u00a7 6.2-1918<\/a>: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Cash, a certificate of deposit, or senior debt obligation of an insured depository institution, as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. § 1813). <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> A banker’s acceptance or bill of exchange that is eligible for purchase upon endorsement by a member<\/span> bank of the Federal Reserve System and is eligible for purchase by a Federal Reserve Bank. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> An investment bearing a rating of one of the three highest grades, as defined by a nationally recognized organization that rates securities. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> An investment security that is an obligation of the United States or a department, agency, or instrumentality thereof; an investment in an obligation that is guaranteed fully as to principal<\/span> and interest by the United States; or an investment in an obligation of a state or a governmental subdivision, agency, or instrumentality thereof. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Receivables that are payable to a licensee<\/span> from its authorized delegates<\/span>, pursuant to contracts<\/span> and in the ordinary course of business, that are not past due or doubtful of collection. A receivable shall be deemed to be past due or doubtful of collection if the money owed to the licensee<\/span> is not remitted within seven business days. However, the aggregate amount of receivables under this subdivision from any one person<\/span> shall not comprise more than 10 percent of the licensee<\/span>’s total permissible investments. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> A share or a certificate issued by an open-end management investment company that is registered with the U.S. Securities and Exchange Commission<\/span> under the Investment Companies Act of 1940 (15 U.S.C. § 80a-1 et seq.), and whose portfolio is restricted by the management company’s investment policy to investments specified in subdivisions 1 through 4. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The following investments are permissible under \u00a7 6.2-1918<\/a>, but only to the extent specified: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> An interest-bearing bill, note, bond<\/span>, or debenture of a person<\/span> whose equity<\/span> shares are traded on a national securities exchange or on a national over-the-counter market, if the aggregate of investments under this subdivision does not exceed 20 percent of the total permissible investments of a licensee<\/span> and the licensee<\/span> does not at one time hold investments under this subdivision in any one person<\/span> aggregating more than 10 percent of the licensee<\/span>’s total permissible investments; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> A share of a person<\/span> traded on a national securities exchange or a national over-the-counter market or a share or a certificate issued by an open-end management investment company that is registered with the U.S. Securities and Exchange Commission<\/span> under the Investment Companies Act of 1940 (15 U.S.C. § 80a-1 et seq.), and whose portfolio is restricted by the management company’s investment policy to shares of a person<\/span> traded on a national securities exchange or a national over-the-counter market, if the aggregate of investments under this subdivision does not exceed 20 percent of the total permissible investments of a licensee<\/span> and the licensee<\/span> does not at one time hold investments in any one person<\/span> aggregating more than 10 percent of the licensee<\/span>’s total permissible investments; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> A demand-borrowing agreement made to a corporation or a subsidiary of a corporation whose securities are traded on a national securities exchange if the aggregate of the amount of principal<\/span> and interest outstanding under demand-borrowing agreements under this subdivision does not exceed 20 percent of the total permissible investments of a licensee<\/span> and the licensee<\/span> does not at one time hold principal<\/span> and interest outstanding under demand-borrowing agreements under this subdivision with any one person<\/span> aggregating more than 10 percent of the licensee<\/span>’s total permissible investments; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Any other investment the Commission<\/span> designates, to the extent specified by the Commission<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The aggregate of investments under subsection B may not exceed 50 percent of the total permissible investments of a licensee<\/span> calculated in accordance with § 6.2-1918<\/a>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\n(REPEALED EFFECTIVE JULY 1, 2026) TYPES OF PERMISSIBLE INVESTMENTS. (\u00a7\n6.2-1919)\n\nA. Except to the extent otherwise limited by the Commission pursuant to \u00a7\n6.2-1918, the following investments are permissible under \u00a7 6.2-1918:\n\n 1. Cash, a certificate of deposit, or senior debt obligation of an insured\n depository institution, as defined in section 3 of the Federal Deposit\n Insurance Act (12 U.S.C. § 1813).\n\n 2. A banker’s acceptance or bill of exchange that is eligible for\n purchase upon endorsement by a member bank of the Federal Reserve System and\n is eligible for purchase by a Federal Reserve Bank.\n\n 3. An investment bearing a rating of one of the three highest grades, as\n defined by a nationally recognized organization that rates securities.\n\n 4. An investment security that is an obligation of the United States or a\n department, agency, or instrumentality thereof; an investment in an obligation\n that is guaranteed fully as to principal and interest by the United States; or\n an investment in an obligation of a state or a governmental subdivision,\n agency, or instrumentality thereof.\n\n 5. Receivables that are payable to a licensee from its authorized delegates,\n pursuant to contracts and in the ordinary course of business, that are not\n past due or doubtful of collection. A receivable shall be deemed to be past\n due or doubtful of collection if the money owed to the licensee is not\n remitted within seven business days. However, the aggregate amount of\n receivables under this subdivision from any one person shall not comprise more\n than 10 percent of the licensee’s total permissible investments.\n\n 6. A share or a certificate issued by an open-end management investment\n company that is registered with the U.S. Securities and Exchange Commission\n under the Investment Companies Act of 1940 (15 U.S.C. § 80a-1 et seq.),\n and whose portfolio is restricted by the management company’s investment\n policy to investments specified in subdivisions 1 through 4.\n\nB. The following investments are permissible under \u00a7 6.2-1918, but only to the\nextent specified:\n\n 1. An interest-bearing bill, note, bond, or debenture of a person whose equity\n shares are traded on a national securities exchange or on a national\n over-the-counter market, if the aggregate of investments under this\n subdivision does not exceed 20 percent of the total permissible investments of\n a licensee and the licensee does not at one time hold investments under this\n subdivision in any one person aggregating more than 10 percent of the\n licensee’s total permissible investments;\n\n 2. A share of a person traded on a national securities exchange or a national\n over-the-counter market or a share or a certificate issued by an open-end\n management investment company that is registered with the U.S. Securities and\n Exchange Commission under the Investment Companies Act of 1940 (15 U.S.C.\n § 80a-1 et seq.), and whose portfolio is restricted by the management\n company’s investment policy to shares of a person traded on a national\n securities exchange or a national over-the-counter market, if the aggregate of\n investments under this subdivision does not exceed 20 percent of the total\n permissible investments of a licensee and the licensee does not at one time\n hold investments in any one person aggregating more than 10 percent of the\n licensee’s total permissible investments;\n\n 3. A demand-borrowing agreement made to a corporation or a subsidiary of a\n corporation whose securities are traded on a national securities exchange if\n the aggregate of the amount of principal and interest outstanding under\n demand-borrowing agreements under this subdivision does not exceed 20 percent\n of the total permissible investments of a licensee and the licensee does not\n at one time hold principal and interest outstanding under demand-borrowing\n agreements under this subdivision with any one person aggregating more than 10\n percent of the licensee’s total permissible investments; and\n\n 4. Any other investment the Commission designates, to the extent specified by\n the Commission.\n\nC. The aggregate of investments under subsection B may not exceed 50 percent of\nthe total permissible investments of a licensee calculated in accordance with\n§ 6.2-1918.\n\nHISTORY: 2009, c. 346, \u00a7 6.1-378.8; 2010, c. 794; 2014, c. 454; 2025, c. 214.","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}}