                                 CODE OF VIRGINIA

BONDS AS LEGAL INVESTMENTS AND LAWFUL SECURITY (§ 15.2-5421)

The bonds issued pursuant to this chapter shall be and are hereby declared to be
legal and authorized investments for banks, savings institutions, trust
companies, building and loan associations, insurance companies, fiduciaries,
trustees, and guardians and for all public funds of the Commonwealth or other
political corporations or subdivisions of the Commonwealth. Such bonds shall be
eligible to secure the deposit of any and all public funds of the Commonwealth
and any and all public funds of localities, school districts or other political
corporations or subdivisions of the Commonwealth, and such bonds shall be lawful
and sufficient security for such deposits to the extent of their value when
accompanied by all unmatured coupons appertaining thereto.

HISTORY: 1979, c. 416, § 15.1-1624; 1996, c. 77; 1997, c. 587.