                                 CODE OF VIRGINIA

COMMONWEALTH AND ITS POLITICAL SUBDIVISIONS AS TRUSTEE OF PUBLIC FUNDS; STANDARD
OF CARE IN INVESTING SUCH FUNDS (§ 2.2-4514)

Public funds held by the Commonwealth, public officers, municipal corporations,
political subdivisions, and any other public body of the Commonwealth shall be
held in trust for the citizens of the Commonwealth. Any investment of such funds
pursuant to the provisions of this chapter shall be made solely in the interest
of the citizens of the Commonwealth and with the care, skill, prudence, and
diligence under the circumstances then prevailing that a prudent person acting
in a like capacity and familiar with such matters would use in the conduct of an
enterprise of a like character and with like aims.

HISTORY: 1996, c. 437, § 2.1-328.14; 2001, c. 844.