CODE OF VIRGINIA

ACCOUNTS OF SAVINGS INSTITUTIONS AS LEGAL INVESTMENTS AND AS SECURITY (§
6.2-1169)

Administrators, executors, custodians, conservators, guardians, trustees, and
other fiduciaries, insurance companies, business and manufacturing companies,
banks, trust companies, credit unions and other types of similar financial
organizations, charitable, educational, and eleemosynary funds and
organizations, and all agencies, localities, and other political subdivisions
and governmental units of the Commonwealth are specifically authorized to invest
funds held by them, without any order of any court, in accounts of savings
institutions authorized to do business in the Commonwealth. Such investments
shall be deemed and held to be legal investments for such funds. The provisions
of this section are supplemental to any and all other laws relating to and
declaring what shall be legal investments for the persons referred to in this
section.

HISTORY: 1972, c. 796, § 6.1-195.50; 1985, c. 425, § 6.1-194.52; 2010, c. 794.