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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>355131</law_id><section_number>23.1-1235</section_number><catch_line>Bonds as legal investments</catch_line><edition url="https://vacode.org/2026/" slug="2026" current="TRUE" last_updated="2026-08-02">2026</edition><structure><unit label="title" level="1" order_by="62" identifier="23.1">Institutions of Higher Education; Other Educational and Cultural Institutions</unit><unit label="subtitle" level="2" order_by="3" identifier="III">Management and Financing</unit><unit label="chapter" level="3" order_by="3" identifier="12">Virginia College Building Authority</unit><unit label="article" level="4" order_by="2" identifier="2">Nonprofit Private Institutions of Higher Education; Projects</unit></structure><text>
						<section><p><span class="dictionary"><span class="dictionary">Bonds</span></span> issued by the <span class="dictionary">Authority</span> under the provisions of this article are securities (i) in which all public officers and bodies of the Commonwealth and its political subdivisions, insurance companies, trust companies, banking associations, investment companies, executors, administrators, trustees, and other fiduciaries may properly and legally invest funds, including capital in their control or belonging to them and (ii) that may properly and legally be deposited with and received by any officer of the Commonwealth or any of its localities or any agency or political subdivision of the Commonwealth for any lawful purpose.</p></section></text><history>1972, c. 686, &#xA7; 23-30.55; 2016, c. 588.</history><metadata></metadata></law>
