                                 CODE OF VIRGINIA

INVESTMENT OF CERTAIN PUBLIC MONEYS IN CERTAIN MUTUAL FUNDS (§ 2.2-4508)

Notwithstanding any provision of law to the contrary, the Commonwealth, all
public officers, municipal corporations, other political subdivisions and all
other public bodies of the Commonwealth may invest any and all moneys belonging
to them or within their control, other than sinking funds that are governed by
the provisions of § 2.2-4500, in one or more open-end investment funds,
provided that the funds are registered under the Securities Act (§ 13.1-501 et
seq.) of the Commonwealth or the Federal Investment Co. Act of 1940, and that
the investments by such funds are restricted to investments otherwise permitted
by law for political subdivisions as set forth in this chapter, or investments
in other such funds whose portfolios are so restricted.

HISTORY: 1986, c. 170, § 2.1-328.9; 1988, c. 834; 1996, c. 508; 2001, c. 844.