6.1-194.52 - (Repealed effective October 1, 2010) Accounts of savings institutions as legal investments and as security.
§ 6.1-194.52. (Repealed effective October 1, 2010) Accounts of savingsinstitutions as legal investments and as security.
Administrators, executors, custodians, conservators, guardians, trustees, andother fiduciaries of every kind and nature, insurance companies, business andmanufacturing companies, banks, trust companies, credit unions and othertypes of similar financial organizations, charitable, educational, andeleemosynary funds and organizations, and all agencies, cities, counties,towns, and other subdivisions and governmental units of the Commonwealthhereby are specifically authorized and empowered to invest funds held bythem, without any order of any court, in accounts of savings institutionsauthorized to do business in the Commonwealth. Such investments shall bedeemed and held to be legal investments for such funds. The provisions ofthis section are supplemental to any and all other laws relating to anddeclaring what shall be legal investments for the persons, fiduciaries,corporations and organizations referred to in this section.
(Code 1950, § 6.1-195.50; 1972, c. 796; 1985, c. 425.)