§ 2.2-4509. Investment of funds in negotiable certificates of deposit and negotiable bank deposit note...
Notwithstanding any provision of law to the contrary, the Commonwealth and all public officers, municipal corporations, and other political subdivisions and all other public bodies of the Commonwealth may invest any or all of the moneys belonging to them or within their control, other than sinking funds, in negotiable certificates of deposit and negotiable bank deposit notes of domestic banks and domestic offices of foreign banks with a rating of at least A-1 by Standard & Poor's and P-1 by Moody's Investor Service, Inc., for maturities of one year or less, and a rating of at least AA by Standard & Poor's and Aa by Moody's Investor Service, Inc., for maturities over one year and not exceeding five years.
(1998, cc. 20, 21, § 2.1-328.15; 2001, c. 844.)
Sections: Previous 2.2-4502 2.2-4503 2.2-4504 2.2-4505 2.2-4506 2.2-4507 2.2-4508 2.2-4509 2.2-4510 2.2-4511 2.2-4512 2.2-4513 2.2-4514 2.2-4515 2.2-4516 NextLast modified: April 2, 2009