Virginia § 2.2-4511 - Investment of funds in asset-backed securities
Full text of Virginia Code of Virginia § 2.2-4511 — Investment of funds in asset-backed securities, with citation guidance and answers to common questions.
§ 2.2-4511. Investment of funds in asset-backed securities
A. For purposes of this section, "qualified public entity" means any state agency, institution of the Commonwealth, or statewide authority created under the laws of the Commonwealth having an internal or external public funds manager with professional investment management capabilities.
B. Notwithstanding any provision of law to the contrary, any qualified public entity of the Commonwealth may invest any and all moneys belonging to it or within its control, other than sinking funds, in asset-backed securities with a duration of no more than five years (i) that are unconditionally guaranteed as to payment of principal and interest by the United States or any agency thereof or (ii) with a rating of at least AAA or Aaa by two rating agencies. One of the two qualifying ratings shall be (a) at least Aaa by Moody's Investors Service, Inc.; (b) at least AAA by Standard and Poor's; or (c) at least AAA by Fitch Ratings, Inc.
1994, c. 145, § 2.1-328.13; 1997, c. 29; 2001, c. 844; 2020, c. 333; 2024, cc. 65, 66.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 2.2-4511
What does Code of Virginia § 2.2-4511 cover?
Section 2.2-4511 ("Investment of funds in asset-backed securities") 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 § 2.2-4511?
A common citation format is "Code of Virginia § 2.2-4511" (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 § 2.2-4511 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.