Virginia Small Business Financing Authority This is the 2025 edition of the code. There is not the current edition. Browse all editions.
This is Article 7 of the Code of Virginia, titled “Virginia Small Business Financing Authority.” It is part of Chapter 22 “Authorities”, which is part of Part D “State Authorities, Boards, Commissions, Councils, Foundations and Other Collegial Bodies”, which is part of Subtitle I “Organization of State Government”, which is part of Title 2.2 “Administration of Government”.
It’s comprised of the following 38 sections.
§ 2.2-2279 Short title; definitions
§ 2.2-2280 Declaration of public purpose; Authority created
§ 2.2-2281 Construction of article
§ 2.2-2282 Board of directors; membership; terms, compensation and expenses; chairman, vice-chairman, secretary and treasurer; quorum; staff
§ 2.2-2283 Meetings of the Board
§ 2.2-2284 Executive Director; appointment; duties
§ 2.2-2285 Powers of the Authority
§ 2.2-2286 Power to condemn
§ 2.2-2287 Power to borrow money and issue bonds
§ 2.2-2288 Power to issue bonds to purchase ninety percent guaranteed portion of loans
§ 2.2-2289 Power to issue umbrella bonds
§ 2.2-2290 Insurance or guarantee fund
§ 2.2-2291 Security for bonds; fees and expenses; limitations
§ 2.2-2292 Public hearing and approval
§ 2.2-2293 Loans to lenders; conditions
§ 2.2-2294 Investment in, purchase or assignment of loans; conditions
§ 2.2-2295 Regulations of the Authority
§ 2.2-2296 How bonds paid and secured
§ 2.2-2297 Liability of Commonwealth, political subdivisions and members of Board
§ 2.2-2298 Authorization of bonds by resolution; contents of bond sale; manner
§ 2.2-2299 Resolution authorizing issuance of bonds; provisions
§ 2.2-2300 Pledge by Authority
§ 2.2-2301 Purchase of bonds of Authority
§ 2.2-2302 Bonds secured by indenture; contents; expenses; how treated
§ 2.2-2303 Signatures of prior members or officers; validity
§ 2.2-2304 Deposit of money; expenditures; security for deposits
§ 2.2-2305 Contracts with holders of bonds; how money secured
§ 2.2-2306 Bondholder protection
§ 2.2-2307 Bonds as legal investments and securities
§ 2.2-2308 Expenses of Authority; liability of Commonwealth or political subdivision prohibited
§ 2.2-2309 Creation, administration, and management of Virginia Export Fund
§ 2.2-2310 Creation, administration, and management of Virginia Small Business Growth Fund
§ 2.2-2311 Repealed
§ 2.2-2311.1 Creation, administration, and management of the Small, Women-owned, and Minority-owned Business Loan Fund
§ 2.2-2312 Annual report; audit
§ 2.2-2312.1 Risk-based review of outstanding loans; report
§ 2.2-2313 Exemption from taxation
§ 2.2-2314 Administrative Process Act not applicable