Code of Virginia - Title 2.2 Administration Of Government - Section 2.2-4408 Authority to deposit public funds

§ 2.2-4408. Authority to deposit public funds

A. All treasurers and public depositors are hereby authorized to deposit funds under their control in qualified public depositories securing public deposits pursuant to this chapter.

B. Local officials handling public funds in the Commonwealth may not require from a depository institution any pledge of collateral for their deposits in such institution which is in excess of the requirements of this chapter.

(1973, c. 172, § 2.1-367; 1980, c. 538, § 2.1-234.5; 1998, cc. 20, 21; 2001, c. 844.)

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Last modified: April 2, 2009