                                 CODE OF VIRGINIA

BONDS AS LEGAL INVESTMENTS AND SECURITIES (§ 62.1-220)

The bonds issued by the Authority in accordance with the provisions of this
chapter are declared to be legal investments in which all public officers or
public bodies of the Commonwealth, its political subdivisions, all
municipalities and municipal subdivisions; all insurance companies and
associations and other persons carrying on insurance business; all banks,
bankers, banking associations, trust companies, savings banks, savings
associations, including savings and loan associations, building and loan
associations, investment companies, and other persons carrying on a banking
business; all administrators, guardians, executors, trustees and other
fiduciaries; and all other persons who are now or may hereafter be authorized to
invest in bonds or other obligations of the Commonwealth, may invest funds,
including capital, in their control or belonging to them. The bonds of the
Authority are also hereby made securities which may be deposited with and
received by all public officers and bodies of the Commonwealth or any agency or
political subdivision of the Commonwealth and all municipalities and public
corporations for any purpose for which the deposit of bonds or other obligations
of the Commonwealth is now or may be later authorized by law.

HISTORY: 1984, c. 699.