{"law_id":"781468","section_number":"2.2-2304","catch_line":"Deposit of money; expenditures; security for deposits","history":"1984, c. 749, \u00a7 9-229; 2001, c. 844.","order_by":null,"metadata":false,"court_decisions":{},"official_url":"http:\/\/law.lis.virginia.gov\/vacode\/2.2-2304\/","refers_to":false,"url":"\/2.2-2304\/","token":"2.2\/I\/D\/22\/7\/2.2-2304","structure":{"1":{"id":"534","name":"Virginia Small Business Financing Authority","identifier":"7","label":"article","url":"\/2.2\/I\/D\/22\/7\/"},"2":{"id":"200","name":"Authorities","identifier":"22","label":"chapter","url":"\/2.2\/I\/D\/22\/"},"3":{"id":"199","name":"State Authorities, Boards, Commissions, Councils, Foundations And Other Collegial Bodies","identifier":"D","label":"part","url":"\/2.2\/I\/D\/"},"4":{"id":"75","name":"Organization Of State Government","identifier":"I","label":"subtitle","url":"\/2.2\/I\/"},"5":{"id":"74","name":"Administration Of Government","identifier":"2.2","label":"title","url":"\/2.2\/"}},"referred_to_by":false,"edition_id":"11","section_id":"781468","structure_id":"534","full_text":"All money of the Authority, except as otherwise authorized in this article, shall be deposited as soon as practicable in a separate account in banks or trust companies organized under the laws of the Commonwealth or in national banking associations doing business in the Commonwealth. The money in such accounts shall be paid by checks signed by the Executive Director or other officer or employees of the Authority as the Authority shall authorize. All deposits of money shall, if required by the Authority, be secured in such manner as the Authority determines to be prudent, and all banks or trust companies are authorized to give security for the deposits.","text":{"0":{"id":"2520441","text":"All money of the Authority, except as otherwise authorized in this article, shall be deposited as soon as practicable in a separate account in banks or trust companies organized under the laws of the Commonwealth or in national banking associations doing business in the Commonwealth. The money in such accounts shall be paid by checks signed by the Executive Director or other officer or employees of the Authority as the Authority shall authorize. All deposits of money shall, if required by the Authority, be secured in such manner as the Authority determines to be prudent, and all banks or trust companies are authorized to give security for the deposits.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":{"1":{"id":"534","name":"Virginia Small Business Financing Authority","identifier":"7","label":"article","url":"\/2.2\/I\/D\/22\/7\/"},"2":{"id":"200","name":"Authorities","identifier":"22","label":"chapter","url":"\/2.2\/I\/D\/22\/"},"3":{"id":"199","name":"State Authorities, Boards, Commissions, Councils, Foundations And Other Collegial Bodies","identifier":"D","label":"part","url":"\/2.2\/I\/D\/"},"4":{"id":"75","name":"Organization Of State Government","identifier":"I","label":"subtitle","url":"\/2.2\/I\/"},"5":{"id":"74","name":"Administration Of Government","identifier":"2.2","label":"title","url":"\/2.2\/"}},"structure_contents":{"0":{"id":"769204","structure_id":"534","section_number":"2.2-2279","catch_line":"Short title; definitions","url":"\/2.2-2279\/","token":"2.2\/I\/D\/22\/7\/2.2-2279"},"1":{"id":"773477","structure_id":"534","section_number":"2.2-2280","catch_line":"Declaration of public purpose; Authority created","url":"\/2.2-2280\/","token":"2.2\/I\/D\/22\/7\/2.2-2280"},"2":{"id":"785608","structure_id":"534","section_number":"2.2-2281","catch_line":"Construction of article","url":"\/2.2-2281\/","token":"2.2\/I\/D\/22\/7\/2.2-2281"},"3":{"id":"765407","structure_id":"534","section_number":"2.2-2282","catch_line":"Board of directors; membership; terms, compensation and expenses; chairman, vice-chairman, secretary and treasurer; quorum; staff","url":"\/2.2-2282\/","token":"2.2\/I\/D\/22\/7\/2.2-2282"},"4":{"id":"765743","structure_id":"534","section_number":"2.2-2283","catch_line":"Meetings of the Board","url":"\/2.2-2283\/","token":"2.2\/I\/D\/22\/7\/2.2-2283"},"5":{"id":"785727","structure_id":"534","section_number":"2.2-2284","catch_line":"Executive Director; appointment; duties","url":"\/2.2-2284\/","token":"2.2\/I\/D\/22\/7\/2.2-2284"},"6":{"id":"788797","structure_id":"534","section_number":"2.2-2285","catch_line":"Powers of the Authority","url":"\/2.2-2285\/","token":"2.2\/I\/D\/22\/7\/2.2-2285"},"7":{"id":"765336","structure_id":"534","section_number":"2.2-2286","catch_line":"Power to condemn","url":"\/2.2-2286\/","token":"2.2\/I\/D\/22\/7\/2.2-2286"},"8":{"id":"776987","structure_id":"534","section_number":"2.2-2287","catch_line":"Power to borrow money and issue bonds","url":"\/2.2-2287\/","token":"2.2\/I\/D\/22\/7\/2.2-2287"},"9":{"id":"784583","structure_id":"534","section_number":"2.2-2288","catch_line":"Power to issue bonds to purchase ninety percent guaranteed portion of loans","url":"\/2.2-2288\/","token":"2.2\/I\/D\/22\/7\/2.2-2288"},"10":{"id":"768789","structure_id":"534","section_number":"2.2-2289","catch_line":"Power to issue umbrella bonds","url":"\/2.2-2289\/","token":"2.2\/I\/D\/22\/7\/2.2-2289"},"11":{"id":"781983","structure_id":"534","section_number":"2.2-2290","catch_line":"Insurance or guarantee fund","url":"\/2.2-2290\/","token":"2.2\/I\/D\/22\/7\/2.2-2290"},"12":{"id":"777572","structure_id":"534","section_number":"2.2-2291","catch_line":"Security for bonds; fees and expenses; limitations","url":"\/2.2-2291\/","token":"2.2\/I\/D\/22\/7\/2.2-2291"},"13":{"id":"796605","structure_id":"534","section_number":"2.2-2293","catch_line":"Loans to lenders; conditions","url":"\/2.2-2293\/","token":"2.2\/I\/D\/22\/7\/2.2-2293"},"14":{"id":"789839","structure_id":"534","section_number":"2.2-2294","catch_line":"Investment in, purchase or assignment of loans; conditions","url":"\/2.2-2294\/","token":"2.2\/I\/D\/22\/7\/2.2-2294"},"15":{"id":"772543","structure_id":"534","section_number":"2.2-2295","catch_line":"Regulations of the Authority","url":"\/2.2-2295\/","token":"2.2\/I\/D\/22\/7\/2.2-2295"},"16":{"id":"792133","structure_id":"534","section_number":"2.2-2296","catch_line":"How bonds paid and secured","url":"\/2.2-2296\/","token":"2.2\/I\/D\/22\/7\/2.2-2296"},"17":{"id":"775894","structure_id":"534","section_number":"2.2-2297","catch_line":"Liability of Commonwealth, political subdivisions and members of Board","url":"\/2.2-2297\/","token":"2.2\/I\/D\/22\/7\/2.2-2297"},"18":{"id":"787032","structure_id":"534","section_number":"2.2-2298","catch_line":"Authorization of bonds by resolution; contents of bond sale; manner","url":"\/2.2-2298\/","token":"2.2\/I\/D\/22\/7\/2.2-2298"},"19":{"id":"775109","structure_id":"534","section_number":"2.2-2299","catch_line":"Resolution authorizing issuance of bonds; provisions","url":"\/2.2-2299\/","token":"2.2\/I\/D\/22\/7\/2.2-2299"},"20":{"id":"785848","structure_id":"534","section_number":"2.2-2300","catch_line":"Pledge by Authority","url":"\/2.2-2300\/","token":"2.2\/I\/D\/22\/7\/2.2-2300"},"21":{"id":"782025","structure_id":"534","section_number":"2.2-2301","catch_line":"Purchase of bonds of Authority","url":"\/2.2-2301\/","token":"2.2\/I\/D\/22\/7\/2.2-2301"},"22":{"id":"794523","structure_id":"534","section_number":"2.2-2302","catch_line":"Bonds secured by indenture; contents; expenses; how treated","url":"\/2.2-2302\/","token":"2.2\/I\/D\/22\/7\/2.2-2302"},"23":{"id":"788840","structure_id":"534","section_number":"2.2-2303","catch_line":"Signatures of prior members or officers; validity","url":"\/2.2-2303\/","token":"2.2\/I\/D\/22\/7\/2.2-2303"},"24":{"id":"781468","structure_id":"534","section_number":"2.2-2304","catch_line":"Deposit of money; expenditures; security for deposits","url":"\/2.2-2304\/","token":"2.2\/I\/D\/22\/7\/2.2-2304"},"25":{"id":"784732","structure_id":"534","section_number":"2.2-2305","catch_line":"Contracts with holders of bonds; how money secured","url":"\/2.2-2305\/","token":"2.2\/I\/D\/22\/7\/2.2-2305"},"26":{"id":"786505","structure_id":"534","section_number":"2.2-2306","catch_line":"Bondholder protection","url":"\/2.2-2306\/","token":"2.2\/I\/D\/22\/7\/2.2-2306"},"27":{"id":"783989","structure_id":"534","section_number":"2.2-2307","catch_line":"Bonds as legal investments and securities","url":"\/2.2-2307\/","token":"2.2\/I\/D\/22\/7\/2.2-2307"},"28":{"id":"767014","structure_id":"534","section_number":"2.2-2308","catch_line":"Expenses of Authority; liability of Commonwealth or political subdivision prohibited","url":"\/2.2-2308\/","token":"2.2\/I\/D\/22\/7\/2.2-2308"},"29":{"id":"778742","structure_id":"534","section_number":"2.2-2309","catch_line":"Creation, administration, and management of Virginia Export Fund","url":"\/2.2-2309\/","token":"2.2\/I\/D\/22\/7\/2.2-2309"},"30":{"id":"791938","structure_id":"534","section_number":"2.2-2310","catch_line":"Creation, administration, and management of Virginia Small Business Growth Fund","url":"\/2.2-2310\/","token":"2.2\/I\/D\/22\/7\/2.2-2310"},"31":{"id":"771676","structure_id":"534","section_number":"2.2-2311","catch_line":"Repealed","url":"\/2.2-2311\/","token":"2.2\/I\/D\/22\/7\/2.2-2311"},"32":{"id":"785401","structure_id":"534","section_number":"2.2-2311.1","catch_line":"Creation, administration, and management of the Small, Women-owned, and Minority-owned Business Loan Fund","url":"\/2.2-2311.1\/","token":"2.2\/I\/D\/22\/7\/2.2-2311.1"},"33":{"id":"769987","structure_id":"534","section_number":"2.2-2312","catch_line":"Annual report; audit","url":"\/2.2-2312\/","token":"2.2\/I\/D\/22\/7\/2.2-2312"},"34":{"id":"779932","structure_id":"534","section_number":"2.2-2313","catch_line":"Exemption from taxation","url":"\/2.2-2313\/","token":"2.2\/I\/D\/22\/7\/2.2-2313"},"35":{"id":"769963","structure_id":"534","section_number":"2.2-2314","catch_line":"Administrative Process Act not applicable","url":"\/2.2-2314\/","token":"2.2\/I\/D\/22\/7\/2.2-2314"}},"previous_section":{"id":"788840","structure_id":"534","section_number":"2.2-2303","catch_line":"Signatures of prior members or officers; validity","url":"\/2.2-2303\/","token":"2.2\/I\/D\/22\/7\/2.2-2303"},"next_section":{"id":"784732","structure_id":"534","section_number":"2.2-2305","catch_line":"Contracts with holders of bonds; how money secured","url":"\/2.2-2305\/","token":"2.2\/I\/D\/22\/7\/2.2-2305"},"references":[{"id":"784732","section_number":"2.2-2305","catch_line":"Contracts with holders of bonds; how money secured","url":"\/2.2-2305\/"}],"formats":{"txt":"\/2.2-2304.txt","json":"\/2.2-2304.json","xml":"\/2.2-2304.xml"},"dublin_core":{"Title":"Deposit of money; expenditures; security for deposits","Type":"Text","Format":"text\/html","Identifier":"\u00a7 2.2-2304","Relation":"Code of Virginia"},"plain_text":"                                 CODE OF VIRGINIA\n\nDEPOSIT OF MONEY; EXPENDITURES; SECURITY FOR DEPOSITS (\u00a7 2.2-2304)\n\nAll money of the Authority, except as otherwise authorized in this article,\nshall be deposited as soon as practicable in a separate account in banks or\ntrust companies organized under the laws of the Commonwealth or in national\nbanking associations doing business in the Commonwealth. The money in such\naccounts shall be paid by checks signed by the Executive Director or other\nofficer or employees of the Authority as the Authority shall authorize. All\ndeposits of money shall, if required by the Authority, be secured in such manner\nas the Authority determines to be prudent, and all banks or trust companies are\nauthorized to give security for the deposits.\n\nHISTORY: 1984, c. 749, \u00a7 9-229; 2001, c. 844."}