7820182.2-1814Virginia Decodedhttps://vacode.org2016Administration Of GovernmentOrganization Of State GovernmentState Agencies Related To The General Operation Of GovernmentDepartment Of The TreasuryState DepositoriesAmount and time limit of depositsCode 1950, § 2-178; 1966, c. 677, § 2.1-210; 1971, Ex. Sess., cc. 139, 245; 1974, c. 517; 1978, c. 52; 1979, c. 215; 1984, c. 374; 1990, c. 3; 1996, c. 77; 2001, c. 844.http://law.lis.virginia.gov/vacode/2.2-1814/2.2-4401Definitions/2.2-4401//2.2-1814/2.2/I/C/18/2/2.2-1814

The State Treasurer may arrange for and make state deposits in such amounts and for such time as in his judgment the condition of the state treasury permits; however, no state deposit shall be made for a period in excess of five years. The money deposited in a bank or savings institution in excess of the amount insured by the Federal Deposit Insurance Corporation or other federal insurance agency shall be fully collateralized by eligible collateral as defined in § 2.2-4401.section

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