Code of Virginia - Title 2.2 Administration Of Government - Section 2.2-4409 Authority to secure public deposits; acceptance of liabilities and duties by public depositorie...

§ 2.2-4409. Authority to secure public deposits; acceptance of liabilities and duties by public depositorie...

All institutions located in the Commonwealth that are permitted to hold and receive public deposits are hereby authorized to secure such deposits in accordance with this chapter.

Any institution accepting a public deposit that is required to be secured pursuant to this chapter shall be deemed to have accepted the liabilities and duties imposed upon it pursuant to this chapter with respect to the deposit.

(1973, c. 172, § 2.1-368; 2001, c. 844.)

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Last modified: April 2, 2009