                                 CODE OF VIRGINIA

BONDS DECLARED LEGAL AND AUTHORIZED INVESTMENTS (§ 10.1-312)

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

HISTORY: 1986, c. 498, § 10-112.1; 1988, c. 891; 1996, c. 77.