36-55.49 - Notes and bonds as legal investments.
§ 36-55.49. Notes and bonds as legal investments.
The notes and bonds of HDA shall be legal investments in which all publicofficers and public bodies of this Commonwealth, its political subdivisions,all municipalities and municipal subdivisions, all insurance companies andassociations and other persons carrying on an insurance business, all banks,bankers, banking associations, trust companies, savings banks, and savingsassociations, including savings and loan associations, building and loanassociations, investment companies and other persons carrying on a bankingbusiness, all administrators, guardians, executors, trustees and otherfiduciaries, and all other persons whatsoever who are now or may hereafter beauthorized to invest in bonds or in other obligations of the Commonwealth,may properly and legally invest funds, including capital, in their control orbelonging to them. The notes and bonds are also hereby made securities whichmay properly and legally be deposited with and received by all publicofficers and bodies of the Commonwealth or any agency or politicalsubdivisions of the Commonwealth and all municipalities and publiccorporations for any purpose for which the deposit of bonds or otherobligations of the Commonwealth is now or may hereafter be authorized by lawincluding but not limited to security for deposits pursuant to Chapter 44 (§2.2-4400 et seq.) of Title 2.2 and amendments thereto.
(1972, c. 830; 1975, c. 536.)