Virginia Decodedhttps://vacode.org664582.2-4408Authority to make public deposits2025Administration of GovernmentAdministration of State GovernmentTransaction of Public BusinessVirginia Security for Public Deposits Act

A. All public depositors are hereby authorized to make public deposits under their control in qualified public depositories, securing such public deposits pursuant to this chapter.

B. Local officials handling public deposits in the Commonwealth may not require from a qualified public depository any pledge of collateral for their deposits in excess of the requirements of this chapter.

1973, c. 172, § 2.1-367; 1980, c. 538, § 2.1-234.5; 1998, cc. 20, 21; 2001, c. 844; 2010, cc. 640, 674.