{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/36-55.44_1.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/36-55.44_1.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/36-55.44_1.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/36-55.44_1.html"}],"law_id":360760,"edition_id":2,"section_id":360760,"structure_id":51594,"section_number":"36-55.44:1","catch_line":"Swap agreements by HDA authorized","history":"1994, c. 84.","full_text":"In connection with, or incidental to, the issuance or carrying of notes or bonds or the acquisition or carrying of any investments, HDA may enter into swap agreements or other contracts or arrangements which HDA determines to be necessary or appropriate to place obligations or investments of HDA, as represented by notes, bonds or investments of HDA, in whole or in part, on the interest rate, currency, cash flow or other basis desired by HDA or to hedge payment, currency, rate, spread, or other exposure. Such contracts or arrangements may be entered into by HDA in connection with, or incidental to, entering into or maintaining (i) any agreement which secures notes or bonds of HDA and is authorized or permitted by law or (ii) any investment, or contract providing for any investment, otherwise authorized or permitted by law.\n\nSuch contracts and arrangements may contain such payment, security, default, remedy, and other terms and conditions as determined by HDA, after giving due consideration to the creditworthiness of the counterparty or other obligated party, including any rating by any nationally recognized rating agency, and any other criteria as may be appropriate.\n\nIn connection with, or incidental to, any of these contracts or arrangements, HDA may enter into credit enhancement or liquidity agreements with such terms and conditions as HDA shall determine.\n\n","order_by":null,"text":{"0":{"id":1342481,"text":"In connection with, or incidental to, the issuance or carrying of notes or bonds or the acquisition or carrying of any investments, HDA may enter into swap agreements or other contracts or arrangements which HDA determines to be necessary or appropriate to place obligations or investments of HDA, as represented by notes, bonds or investments of HDA, in whole or in part, on the interest rate, currency, cash flow or other basis desired by HDA or to hedge payment, currency, rate, spread, or other exposure. Such contracts or arrangements may be entered into by HDA in connection with, or incidental to, entering into or maintaining (i) any agreement which secures notes or bonds of HDA and is authorized or permitted by law or (ii) any investment, or contract providing for any investment, otherwise authorized or permitted by law.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":""},"1":{"id":1342482,"text":"Such contracts and arrangements may contain such payment, security, default, remedy, and other terms and conditions as determined by HDA, after giving due consideration to the creditworthiness of the counterparty or other obligated party, including any rating by any nationally recognized rating agency, and any other criteria as may be appropriate.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"prior_prefix":"","next_prefix":""},"2":{"id":1342483,"text":"In connection with, or incidental to, any of these contracts or arrangements, HDA may enter into credit enhancement or liquidity agreements with such terms and conditions as HDA shall determine.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"prior_prefix":""}},"ancestry":[{"id":51594,"edition_id":2,"name":"Virginia Housing Development Authority Act","identifier":"1.2","label":"chapter","depth":2,"order_by":3,"parent_id":51572,"metadata":{"child_laws":42,"child_structures":0},"date_created":"2026-08-02 02:44:38","date_modified":"2026-08-02 12:32:42","permalink":{"id":1435617,"object_type":"structure","relational_id":51594,"identifier":"1.2","token":"36\/1.2","url":"\/36\/1.2\/","edition_id":2,"permalink":0,"preferred":1}},{"id":51572,"edition_id":2,"name":"Housing","identifier":"36","label":"title","depth":1,"order_by":83,"parent_id":null,"metadata":{"child_laws":336,"child_structures":35},"date_created":"2026-08-02 02:44:20","date_modified":"2026-08-02 12:32:40","permalink":{"id":1435259,"object_type":"structure","relational_id":51572,"identifier":"36","token":"36","url":"\/36\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":360728,"structure_id":51594,"section_number":"36-55.24","catch_line":"Short title","url":"\/36-55.24\/","token":"36\/1.2\/36-55.24","metadata":false},{"id":360729,"structure_id":51594,"section_number":"36-55.25","catch_line":"Finding and declaration of necessity","url":"\/36-55.25\/","token":"36\/1.2\/36-55.25","metadata":false},{"id":360730,"structure_id":51594,"section_number":"36-55.26","catch_line":"Definitions","url":"\/36-55.26\/","token":"36\/1.2\/36-55.26","metadata":false},{"id":360731,"structure_id":51594,"section_number":"36-55.27","catch_line":"Virginia Housing Development Authority continued; constituted a public instrumentality","url":"\/36-55.27\/","token":"36\/1.2\/36-55.27","metadata":false},{"id":360732,"structure_id":51594,"section_number":"36-55.27:1","catch_line":"Programs and regulations to implement the Consolidated Plan","url":"\/36-55.27_1\/","token":"36\/1.2\/36-55.27_1","metadata":false},{"id":360733,"structure_id":51594,"section_number":"36-55.28","catch_line":"Appointment and tenure of commissioners; officers; quorum; compensation; liability","url":"\/36-55.28\/","token":"36\/1.2\/36-55.28","metadata":false},{"id":360734,"structure_id":51594,"section_number":"36-55.29","catch_line":"Executive director","url":"\/36-55.29\/","token":"36\/1.2\/36-55.29","metadata":false},{"id":360735,"structure_id":51594,"section_number":"36-55.30","catch_line":"Powers of HDA generally","url":"\/36-55.30\/","token":"36\/1.2\/36-55.30","metadata":false},{"id":360736,"structure_id":51594,"section_number":"36-55.30:1","catch_line":"Repealed","url":"\/36-55.30_1\/","token":"36\/1.2\/36-55.30_1","metadata":false},{"id":360737,"structure_id":51594,"section_number":"36-55.30:2","catch_line":"Housing revitalization areas; economically mixed projects","url":"\/36-55.30_2\/","token":"36\/1.2\/36-55.30_2","metadata":false},{"id":360738,"structure_id":51594,"section_number":"36-55.30:3","catch_line":"Regulations; adoption procedures","url":"\/36-55.30_3\/","token":"36\/1.2\/36-55.30_3","metadata":false},{"id":360739,"structure_id":51594,"section_number":"36-55.31","catch_line":"Powers relative to making mortgage loans and temporary construction loans to housing sponsors and persons and families of low and moderate income","url":"\/36-55.31\/","token":"36\/1.2\/36-55.31","metadata":false},{"id":360740,"structure_id":51594,"section_number":"36-55.31:1","catch_line":"Loans for installation of certain energy-saving devices","url":"\/36-55.31_1\/","token":"36\/1.2\/36-55.31_1","metadata":false},{"id":360741,"structure_id":51594,"section_number":"36-55.32","catch_line":"Powers relative to purchase and sale to mortgage lenders of mortgage loans; loans to mortgage lenders","url":"\/36-55.32\/","token":"36\/1.2\/36-55.32","metadata":false},{"id":360742,"structure_id":51594,"section_number":"36-55.33","catch_line":"Repealed","url":"\/36-55.33\/","token":"36\/1.2\/36-55.33","metadata":false},{"id":360743,"structure_id":51594,"section_number":"36-55.33:1","catch_line":"Mortgage loan terms and conditions","url":"\/36-55.33_1\/","token":"36\/1.2\/36-55.33_1","metadata":false},{"id":360744,"structure_id":51594,"section_number":"36-55.33:2","catch_line":"Powers relative to acquisition, development and ownership by HDA of multi-family residential housing","url":"\/36-55.33_2\/","token":"36\/1.2\/36-55.33_2","metadata":false},{"id":360745,"structure_id":51594,"section_number":"36-55.34","catch_line":"Repealed","url":"\/36-55.34\/","token":"36\/1.2\/36-55.34","metadata":false},{"id":360746,"structure_id":51594,"section_number":"36-55.34:1","catch_line":"Power to supervise housing sponsors","url":"\/36-55.34_1\/","token":"36\/1.2\/36-55.34_1","metadata":false},{"id":360747,"structure_id":51594,"section_number":"36-55.34:2","catch_line":"Power to enter into agreements with owners of housing developments eligible for federal low-income housing credits","url":"\/36-55.34_2\/","token":"36\/1.2\/36-55.34_2","metadata":false},{"id":360748,"structure_id":51594,"section_number":"36-55.35","catch_line":"Terms and conditions of purchase from and sale to mortgage lenders of mortgage loans; loans to mortgage lenders","url":"\/36-55.35\/","token":"36\/1.2\/36-55.35","metadata":false},{"id":360749,"structure_id":51594,"section_number":"36-55.36","catch_line":"Terms and conditions of mortgage insurance","url":"\/36-55.36\/","token":"36\/1.2\/36-55.36","metadata":false},{"id":360750,"structure_id":51594,"section_number":"36-55.36:1","catch_line":"Power to create insurance funds and form corporations for the purpose of insuring HDA mortgage loans","url":"\/36-55.36_1\/","token":"36\/1.2\/36-55.36_1","metadata":false},{"id":360751,"structure_id":51594,"section_number":"36-55.37","catch_line":"Exemption from taxation","url":"\/36-55.37\/","token":"36\/1.2\/36-55.37","metadata":false},{"id":360752,"structure_id":51594,"section_number":"36-55.37:1","catch_line":"Repealed","url":"\/36-55.37_1\/","token":"36\/1.2\/36-55.37_1","metadata":false},{"id":360753,"structure_id":51594,"section_number":"36-55.38","catch_line":"Admission and income limitations relative to housing developments","url":"\/36-55.38\/","token":"36\/1.2\/36-55.38","metadata":false},{"id":360754,"structure_id":51594,"section_number":"36-55.39","catch_line":"Procedure prior to financing of housing developments undertaken by housing sponsors","url":"\/36-55.39\/","token":"36\/1.2\/36-55.39","metadata":false},{"id":360755,"structure_id":51594,"section_number":"36-55.40","catch_line":"Notes and bonds","url":"\/36-55.40\/","token":"36\/1.2\/36-55.40","metadata":false},{"id":360756,"structure_id":51594,"section_number":"36-55.41","catch_line":"Reserve funds and appropriations","url":"\/36-55.41\/","token":"36\/1.2\/36-55.41","metadata":false},{"id":360757,"structure_id":51594,"section_number":"36-55.42","catch_line":"Refunding obligations; issuance","url":"\/36-55.42\/","token":"36\/1.2\/36-55.42","metadata":false},{"id":360758,"structure_id":51594,"section_number":"36-55.43","catch_line":"Same; sale","url":"\/36-55.43\/","token":"36\/1.2\/36-55.43","metadata":false},{"id":360759,"structure_id":51594,"section_number":"36-55.44","catch_line":"Deposit and investment of moneys of HDA","url":"\/36-55.44\/","token":"36\/1.2\/36-55.44","metadata":false},{"id":360760,"structure_id":51594,"section_number":"36-55.44:1","catch_line":"Swap agreements by HDA authorized","url":"\/36-55.44_1\/","token":"36\/1.2\/36-55.44_1","metadata":false},{"id":360761,"structure_id":51594,"section_number":"36-55.45","catch_line":"Agreement with Commonwealth","url":"\/36-55.45\/","token":"36\/1.2\/36-55.45","metadata":false},{"id":360762,"structure_id":51594,"section_number":"36-55.46","catch_line":"Commonwealth not liable on notes and bonds","url":"\/36-55.46\/","token":"36\/1.2\/36-55.46","metadata":false},{"id":360763,"structure_id":51594,"section_number":"36-55.47","catch_line":"Remedies of noteholders and bondholders","url":"\/36-55.47\/","token":"36\/1.2\/36-55.47","metadata":false},{"id":360764,"structure_id":51594,"section_number":"36-55.48","catch_line":"Grants from Commonwealth","url":"\/36-55.48\/","token":"36\/1.2\/36-55.48","metadata":{"court_decisions":""}},{"id":360765,"structure_id":51594,"section_number":"36-55.49","catch_line":"Notes and bonds as legal investments","url":"\/36-55.49\/","token":"36\/1.2\/36-55.49","metadata":false},{"id":360766,"structure_id":51594,"section_number":"36-55.50","catch_line":"Liberal construction","url":"\/36-55.50\/","token":"36\/1.2\/36-55.50","metadata":false},{"id":360767,"structure_id":51594,"section_number":"36-55.51","catch_line":"Reports","url":"\/36-55.51\/","token":"36\/1.2\/36-55.51","metadata":false},{"id":360768,"structure_id":51594,"section_number":"36-55.51:1","catch_line":"Annual audit","url":"\/36-55.51_1\/","token":"36\/1.2\/36-55.51_1","metadata":false},{"id":360769,"structure_id":51594,"section_number":"36-55.52","catch_line":"Inconsistent provisions in other laws superseded","url":"\/36-55.52\/","token":"36\/1.2\/36-55.52","metadata":false}],"previous_section":{"id":360759,"structure_id":51594,"section_number":"36-55.44","catch_line":"Deposit and investment of moneys of HDA","url":"\/36-55.44\/","token":"36\/1.2\/36-55.44","metadata":false},"next_section":{"id":360761,"structure_id":51594,"section_number":"36-55.45","catch_line":"Agreement with Commonwealth","url":"\/36-55.45\/","token":"36\/1.2\/36-55.45","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/36-55.44:1\/","history_text":"<p>This law was first created in 1994. The record of its establishment is cataloged in chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?941+ful+CHAP0084\">84<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":false,"permalink":{"id":1435747,"object_type":"law","relational_id":360760,"identifier":"36-55.44:1","token":"36\/1.2\/36-55.44_1","url":"\/36-55.44_1\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/36-55.44_1\/","token":"36\/1.2\/36-55.44_1","dublin_core":{"Title":"Swap agreements by HDA authorized","Type":"Text","Format":"text\/html","Identifier":"\u00a7 36-55.44:1","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>In connection with, or incidental to, the issuance or carrying of notes or <span class=\"dictionary\">bonds<\/span> or the acquisition or carrying of any investments, <span class=\"dictionary\">HDA<\/span> may enter into swap agreements or other <span class=\"dictionary\">contracts<\/span> or arrangements which <span class=\"dictionary\">HDA<\/span> determines to be necessary or appropriate to place obligations or investments of <span class=\"dictionary\">HDA<\/span>, as represented by notes, <span class=\"dictionary\">bonds<\/span> or investments of <span class=\"dictionary\">HDA<\/span>, in whole or in part, on the interest rate, currency, cash flow or other basis desired by <span class=\"dictionary\">HDA<\/span> or to hedge payment, currency, rate, spread, or other exposure. Such <span class=\"dictionary\">contracts<\/span> or arrangements may be entered into by <span class=\"dictionary\">HDA<\/span> in connection with, or incidental to, entering into or maintaining (i) any agreement which secures notes or <span class=\"dictionary\">bonds<\/span> of <span class=\"dictionary\">HDA<\/span> and is authorized or permitted by <span class=\"dictionary\">law<\/span> or (ii) any investment, or <span class=\"dictionary\">contract<\/span> providing for any investment, otherwise authorized or permitted by <span class=\"dictionary\">law<\/span>.<\/p><p>Such <span class=\"dictionary\">contracts<\/span> and arrangements may contain such payment, security, <span class=\"dictionary\">default<\/span>, remedy, and other terms and conditions as determined by <span class=\"dictionary\">HDA<\/span>, after giving due consideration to the creditworthiness of the counterparty or other obligated <span class=\"dictionary\">party<\/span>, including any rating by any nationally recognized rating agency, and any other criteria as may be appropriate.<\/p><p>In connection with, or incidental to, any of these <span class=\"dictionary\">contracts<\/span> or arrangements, <span class=\"dictionary\">HDA<\/span> may enter into credit enhancement or liquidity agreements with such terms and conditions as <span class=\"dictionary\">HDA<\/span> shall determine.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nSWAP AGREEMENTS BY HDA AUTHORIZED (\u00a7 36-55.44:1)\n\nIn connection with, or incidental to, the issuance or carrying of notes or bonds\nor the acquisition or carrying of any investments, HDA may enter into swap\nagreements or other contracts or arrangements which HDA determines to be\nnecessary or appropriate to place obligations or investments of HDA, as\nrepresented by notes, bonds or investments of HDA, in whole or in part, on the\ninterest rate, currency, cash flow or other basis desired by HDA or to hedge\npayment, currency, rate, spread, or other exposure. Such contracts or\narrangements may be entered into by HDA in connection with, or incidental to,\nentering into or maintaining (i) any agreement which secures notes or bonds of\nHDA and is authorized or permitted by law or (ii) any investment, or contract\nproviding for any investment, otherwise authorized or permitted by law.\n\nSuch contracts and arrangements may contain such payment, security, default,\nremedy, and other terms and conditions as determined by HDA, after giving due\nconsideration to the creditworthiness of the counterparty or other obligated\nparty, including any rating by any nationally recognized rating agency, and any\nother criteria as may be appropriate.\n\nIn connection with, or incidental to, any of these contracts or arrangements,\nHDA may enter into credit enhancement or liquidity agreements with such terms\nand conditions as HDA shall determine.\n\nHISTORY: 1994, c. 84.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}