The Board may sell such bonds in such manner and for such price as it may determine to be for the best interests of the Commonwealth, but no such sale shall be made at a price so low as to require the payment of interest on the money received therefor at more than the maximum annual percentage rate approved by the Commonwealth Treasury Board with respect to such obligations in accordance with § 2.2-2416.
All bonds issued pursuant to the authority of this chapter are hereby made securities in which all public officers and bodies of the Commonwealth and all political subdivisions thereof; all insurance companies and associations, all national banks and trust companies, and all savings institutions, including savings and loan associations, in the Commonwealth; and all executors, administrators, trustees, and other fiduciaries, both individual or corporate, may properly and legally invest funds within their control.
Code 1950, § 33-240; 1952, c. 485; 1958, c. 485; 1970, c. 322, § 33.1-280; 2000, cc. 1019, 1044; 2011, cc. 830, 868; 2014, c. 805.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.