                                 CODE OF VIRGINIA

AUTHORITY TO MAKE PUBLIC DEPOSITS (§ 2.2-4408)

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.

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