SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2021 SESSION

  • | print version

SB 777 Virginia Security for Public Deposits Act; collateral for public deposits.

Introduced by: Lynwood W. Lewis, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Virginia Security for Public Deposits Act; collateral for public deposits; timeframe. Requires a qualified public depository to deposit eligible collateral with a qualified escrow agent equal to or in excess of the required collateral within two business days of accepting a public deposit. Current law requires deposits to be collateralized at the time of deposit.


FULL TEXT

HISTORY