                                 CODE OF VIRGINIA

DEPOSIT OF MONEY; EXPENDITURES; INVESTMENTS (§ 15.2-2432)

All money belonging to the Fund shall be deposited in an account or accounts in
banks or trust companies organized under the laws of the Commonwealth or in
national banking associations located in Virginia or in savings institutions
located in Virginia organized under the laws of the Commonwealth or the United
States. The money in these accounts shall be paid by check signed by the
Executive Director of the Authority or other officers or employees designated by
the Board of Directors of the Authority. All deposits of money shall, if
required by the Authority, be secured in a manner determined by the Authority to
be prudent, and all banks, trust companies, and savings institutions are
authorized to give security for the deposits. Money in the Fund shall not be
commingled with other money of the Authority. Money in the Fund not needed for
immediate use or disbursement may be invested or reinvested by the Authority in
obligations or securities that are considered lawful investments for public
funds under the laws of the Commonwealth.

HISTORY: 2010, c. 724.