§ 2.2-4405. Powers of Treasury Board relating to the administration of this chapter
The Treasury Board shall have power to:
1. Make and enforce regulations necessary and proper to the full and complete performance of its functions under this chapter;
2. Prescribe regulations fixing terms and conditions consistent with this chapter under which public deposits may be received and held;
3. Require such additional collateral, in excess of the required collateral of any qualified public depository, of any and all such depositories as it may determine prudent under the circumstances;
4. Determine what securities shall be acceptable as eligible collateral, and to fix the percentage of face value or market value of such securities that can be used to secure public deposits;
5. Require any qualified public depository to furnish such information concerning its public deposits; and
6. Determine when a default or insolvency has occurred and to take such action as it may deem advisable for the protection, collection, compromise or settlement of any claim arising in case of default or insolvency.
(1973, c. 172, § 2.1-364; 2001, c. 844.)
Sections: Previous 2.2-4400 2.2-4401 2.2-4402 2.2-4403 2.2-4404 2.2-4405 2.2-4406 2.2-4407 2.2-4408 2.2-4409 2.2-4410 2.2-4411 NextLast modified: April 2, 2009