§ 51.1-150 Deposits
For the purpose of meeting disbursements for retirement allowances and other payments, cash, not exceeding ten percent of the total amount in the accounts of the retirement system, may be kept on deposit to the credit of the State Treasurer in one or more banks or trust companies, located in Virginia, organized under the laws of Virginia or of the United States and qualified as state depositories.
History
This law was first created in 1952. The record of its establishment is cataloged in chapter 157 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1952 “Acts” aren’t available online. It has been modified 1 time. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. That modification is as follows: in 1990, chapter 832.
1952, c. 157, § 51-111.52; 1990, c. 832.