22 Va. Admin. Code § 30-60-370 - Allowable investment and custody policies
The investment of available federal or state funds shall be directed by two principles:
(i) all
funds received must be protected from unreasonable loss or diminished value,
and
(ii) investments must be
selected to earn a reasonable return on funds not expected to be disbursed
immediately. In furtherance of such principles, the following investment
mechanisms are authorized:
1. Any interest
bearing checking account that is fully insured by the Federal Deposit Insurance
Corporation or the Federal Savings and Loan Insurance Corporation;
2. NOW accounts.
Notes
Statutory Authority
§ 51.5-131 of the Code of Virginia; 42 USC § 3001 et seq.
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.