Virginia § 29.1-101.7 - Security for loans
Full text of Virginia Code of Virginia § 29.1-101.7 — Security for loans, with citation guidance and answers to common questions.
§ 29.1-101.7. Security for loans
Each loan to an owner other than a local government shall be evidenced by appropriate bonds or notes of the borrower payable to the Fund. The Department may require in connection with any loan to an owner other than a local government such documents, instruments, certificates, legal opinions, and other information as it deems necessary or convenient. The Department may require such borrower to provide the Fund a security interest in the borrower's real and personal property and to procure such insurance, guarantees, letters of credit and other forms of security as the Department deems necessary to provide remedies to the Fund in case of loss or default.
1989, c. 5, § 10.1-1219; 1992, cc. 464, 887.
Frequently Asked Questions About Virginia § 29.1-101.7
What does Code of Virginia § 29.1-101.7 cover?
Section 29.1-101.7 ("Security for loans") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 29.1-101.7?
A common citation format is "Code of Virginia § 29.1-101.7" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 29.1-101.7 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.