Code of Virginia - Title 2.2 Administration Of Government - Chapter 44 Virginia Security For Public Deposits Act

2.2-4400 Short title; declaration of intent; applicability
A. This chapter may be cited as the "Virginia Security for Public Deposits Act." B. The General Assembly intends by this chapter to establish a ...

2.2-4401 Definitions
As used in this chapter, unless the context requires a different meaning: "Default or insolvency" includes, but shall not be limited to, the failure or ...

2.2-4402 Collateral for public deposits
Every qualified public depository shall deposit with the State Treasurer, or, with the approval of the Treasury Board, with the Federal Reserve Bank of Richmond ...

2.2-4403 Procedure for payment of losses where depository is bank
When the Treasury Board is advised by any treasurer or otherwise determines that a default or insolvency has occurred with regard to a qualified public ...

2.2-4404 Procedure for payment of losses where depository is savings bank or savings and loan associatio...
When the Treasury Board is advised by any treasurer or otherwise determines that a default or insolvency has occurred with regard to a qualified public ...

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 ...

2.2-4406 Subrogation of Treasury Board to depositor's rights; payment of sums received from distribution of ...
Upon payment in full to any public depositor, the Treasury Board shall be subrogated to all of such depositor's rights, title and interest against the ...

2.2-4407 Deposit of public funds in qualified public depository mandatory
No public deposit that is required to be secured pursuant to this chapter shall be made except in a qualified public depository. (1973, c. 172, ...

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 ...

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 ...

2.2-4410 Liability of treasurers or public depositors
When deposits are made in accordance with this chapter no treasurer or public depositor shall be liable for any loss thereof resulting from the failure ...

2.2-4411 Reports of public depositories
Within ten days after the end of each calendar month or when requested by the Treasury Board each qualified public depository shall submit to the ...