Virginia Code 2.2-4407: Mandatory deposit of public funds in qualified public depositories
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Public deposits required to be secured pursuant to this chapter shall be deposited in a qualified public depository.
Terms Used In Virginia Code 2.2-4407
- Qualified public depository: means any national banking association, federal savings and loan association or federal savings bank located in Virginia, any bank, trust company or savings institution organized under Virginia law, or any state bank or savings institution organized under the laws of another state located in Virginia authorized by the Treasury Board to hold public deposits according to this chapter. See Virginia Code 2.2-4401