                                 CODE OF VIRGINIA

DEPOSIT OF MONEYS; EXPENDITURES; INVESTMENTS (§ 10.1-603.26)

All moneys in 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
moneys 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 moneys 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. Moneys in the Fund shall not be commingled with other
moneys of the Authority. Moneys 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: 2016, c. 762.