                                 CODE OF VIRGINIA

SECURITY FOR LOANS (§ 29.1-101.7)

Each loan to an owner other than a local government shall be evidenced by
appropriate bonds or notes of the borrower payable to the Fund. The Department
may require in connection with any loan to an owner other than a local
government such documents, instruments, certificates, legal opinions, and other
information as it deems necessary or convenient. The Department may require such
borrower to provide the Fund a security interest in the borrower&#8217;s real
and personal property and to procure such insurance, guarantees, letters of
credit and other forms of security as the Department deems necessary to provide
remedies to the Fund in case of loss or default.

HISTORY: 1989, c. 5, § 10.1-1219; 1992, cc. 464, 887.