                                 CODE OF VIRGINIA

OFFICERS MAY NOT PURCHASE WARRANTS FOR LESS THAN FACE VALUE (§ 22.1-124)

It shall be unlawful for any county, municipal or state officer to acquire by
purchase, directly or indirectly, at less than its face value any warrant or
other evidence of indebtedness issued for any school purpose whatsoever by the
governing body of any county, city or town or by any school board. Any violation
of the provisions of this section shall be a Class 3 misdemeanor. Upon the
conviction of any such officer of a violation of this section, his office shall
be deemed vacant.

HISTORY: Code 1950, § 22-212; 1980, c. 559.