{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/36-34.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/36-34.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/36-34.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/36-34.html"}],"law_id":360692,"edition_id":2,"section_id":360692,"structure_id":51589,"section_number":"36-34","catch_line":"Housing bonds to be legal investments, legal security and negotiable","history":"1942, p. 404; Michie Code 1942, \u00a7 3145(25).","full_text":"The Commonwealth and all public officers, municipal corporations, political subdivisions (other than housing authorities), and public bodies, all banks, bankers, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies and other persons carrying on a banking business, all insurance companies, except domestic life insurance companies may legally invest any sinking funds, moneys or other funds belonging to them or within their control in any bonds or other obligations issued by a housing authority pursuant to the Housing Authorities Law, or issued by any public housing authority or agency in the United States, when such bonds or other obligations are secured by a pledge of annual contributions to be paid by the United States government or any agency thereof, and such bonds and other obligations shall be authorized security for all public deposits and shall be fully negotiable in this Commonwealth; it being the purpose of this act to authorize any persons, firms, corporations, associations, political subdivisions, bodies and officers, public or private, to use any funds owned or controlled by them, including (but not limited to) sinking, insurance, investment, retirement, compensation, pension funds, and funds held on deposit, for the purchase of any such bonds or other obligations and that any such bonds or other obligations shall be authorized security for all public deposits and shall be fully negotiable in this Commonwealth; provided, however, that nothing contained in this section with regard to legal investments shall be construed as relieving any person, firm or corporation from any duty of exercising reasonable care in selecting securities.\n\n","order_by":null,"text":{"0":{"id":1342162,"text":"The Commonwealth and all public officers, municipal corporations, political subdivisions (other than housing authorities), and public bodies, all banks, bankers, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies and other persons carrying on a banking business, all insurance companies, except domestic life insurance companies may legally invest any sinking funds, moneys or other funds belonging to them or within their control in any bonds or other obligations issued by a housing authority pursuant to the Housing Authorities Law, or issued by any public housing authority or agency in the United States, when such bonds or other obligations are secured by a pledge of annual contributions to be paid by the United States government or any agency thereof, and such bonds and other obligations shall be authorized security for all public deposits and shall be fully negotiable in this Commonwealth; it being the purpose of this act to authorize any persons, firms, corporations, associations, political subdivisions, bodies and officers, public or private, to use any funds owned or controlled by them, including (but not limited to) sinking, insurance, investment, retirement, compensation, pension funds, and funds held on deposit, for the purchase of any such bonds or other obligations and that any such bonds or other obligations shall be authorized security for all public deposits and shall be fully negotiable in this Commonwealth; provided, however, that nothing contained in this section with regard to legal investments shall be construed as relieving any person, firm or corporation from any duty of exercising reasonable care in selecting securities.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":51589,"edition_id":2,"name":"Bonds, Trust Indentures and Mortgages","identifier":"4","label":"article","depth":3,"order_by":5,"parent_id":51573,"metadata":{"child_laws":7,"child_structures":0},"date_created":"2026-08-02 02:44:34","date_modified":"2026-08-02 12:32:41","permalink":{"id":1435445,"object_type":"structure","relational_id":51589,"identifier":"4","token":"36\/1\/4","url":"\/36\/1\/4\/","edition_id":2,"permalink":0,"preferred":1}},{"id":51573,"edition_id":2,"name":"Housing Authorities Law","identifier":"1","label":"chapter","depth":2,"order_by":1,"parent_id":51572,"metadata":{"child_laws":83,"child_structures":8},"date_created":"2026-08-02 02:44:20","date_modified":"2026-08-02 12:32:41","permalink":{"id":1435261,"object_type":"structure","relational_id":51573,"identifier":"1","token":"36\/1","url":"\/36\/1\/","edition_id":2,"permalink":0,"preferred":1}},{"id":51572,"edition_id":2,"name":"Housing","identifier":"36","label":"title","depth":1,"order_by":83,"parent_id":null,"metadata":{"child_laws":336,"child_structures":35},"date_created":"2026-08-02 02:44:20","date_modified":"2026-08-02 12:32:40","permalink":{"id":1435259,"object_type":"structure","relational_id":51572,"identifier":"36","token":"36","url":"\/36\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":360686,"structure_id":51589,"section_number":"36-29","catch_line":"Power to issue bonds; liability in general","url":"\/36-29\/","token":"36\/1\/4\/36-29","metadata":false},{"id":360688,"structure_id":51589,"section_number":"36-30","catch_line":"Form and sale of bonds; presumption of validity","url":"\/36-30\/","token":"36\/1\/4\/36-30","metadata":false},{"id":360689,"structure_id":51589,"section_number":"36-31","catch_line":"Provisions of bonds, trust indentures and mortgages","url":"\/36-31\/","token":"36\/1\/4\/36-31","metadata":false},{"id":360690,"structure_id":51589,"section_number":"36-32","catch_line":"Remedies of obligee of authority","url":"\/36-32\/","token":"36\/1\/4\/36-32","metadata":false},{"id":360691,"structure_id":51589,"section_number":"36-33","catch_line":"Additional remedies conferrable by authority","url":"\/36-33\/","token":"36\/1\/4\/36-33","metadata":false},{"id":360692,"structure_id":51589,"section_number":"36-34","catch_line":"Housing bonds to be legal investments, legal security and negotiable","url":"\/36-34\/","token":"36\/1\/4\/36-34","metadata":false},{"id":360693,"structure_id":51589,"section_number":"36-35","catch_line":"Contracts and covenants with federal government, etc.; agreements to sell","url":"\/36-35\/","token":"36\/1\/4\/36-35","metadata":false}],"previous_section":{"id":360691,"structure_id":51589,"section_number":"36-33","catch_line":"Additional remedies conferrable by authority","url":"\/36-33\/","token":"36\/1\/4\/36-33","metadata":false},"next_section":{"id":360693,"structure_id":51589,"section_number":"36-35","catch_line":"Contracts and covenants with federal government, etc.; agreements to sell","url":"\/36-35\/","token":"36\/1\/4\/36-35","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/36-34\/","history_text":false,"references":false,"refers_to":false,"permalink":{"id":1435467,"object_type":"law","relational_id":360692,"identifier":"36-34","token":"36\/1\/4\/36-34","url":"\/36-34\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/36-34\/","token":"36\/1\/4\/36-34","dublin_core":{"Title":"Housing bonds to be legal investments, legal security and negotiable","Type":"Text","Format":"text\/html","Identifier":"\u00a7 36-34","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The Commonwealth and all public officers, municipal corporations, political subdivisions (other than housing authorities), and public bodies, all banks, bankers, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies and other persons carrying on a banking business, all insurance companies, except domestic life insurance companies may legally invest any sinking funds, moneys or other funds belonging to them or within their control in any bonds<\/span><\/span> or other obligations issued by a housing authority<\/span> pursuant to the Housing Authorities Law<\/span>, or issued by any public housing authority<\/span> or agency in the United States, when such bonds<\/span><\/span> or other obligations are secured by a pledge of annual contributions to be paid by the United States government or any agency thereof, and such bonds<\/span><\/span> and other obligations shall be authorized security for all public deposits and shall be fully negotiable in this Commonwealth; it being the purpose of this act to authorize any persons, firms, corporations, associations, political subdivisions, bodies and officers, public or private, to use any funds owned or controlled by them, including (but not limited to) sinking, insurance, investment, retirement, compensation, pension funds, and funds held on deposit, for the purchase of any such bonds<\/span><\/span> or other obligations and that any such bonds<\/span><\/span> or other obligations shall be authorized security for all public deposits and shall be fully negotiable in this Commonwealth; provided, however, that nothing contained in this section with regard to legal investments shall be construed as relieving any person, firm or corporation from any duty of exercising reasonable care in selecting securities.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nHOUSING BONDS TO BE LEGAL INVESTMENTS, LEGAL SECURITY AND NEGOTIABLE (\u00a7 36-34)\n\nThe Commonwealth and all public officers, municipal corporations, political\nsubdivisions (other than housing authorities), and public bodies, all banks,\nbankers, trust companies, savings banks and institutions, building and loan\nassociations, savings and loan associations, investment companies and other\npersons carrying on a banking business, all insurance companies, except domestic\nlife insurance companies may legally invest any sinking funds, moneys or other\nfunds belonging to them or within their control in any bonds or other\nobligations issued by a housing authority pursuant to the Housing Authorities\nLaw, or issued by any public housing authority or agency in the United States,\nwhen such bonds or other obligations are secured by a pledge of annual\ncontributions to be paid by the United States government or any agency thereof,\nand such bonds and other obligations shall be authorized security for all public\ndeposits and shall be fully negotiable in this Commonwealth; it being the\npurpose of this act to authorize any persons, firms, corporations, associations,\npolitical subdivisions, bodies and officers, public or private, to use any funds\nowned or controlled by them, including (but not limited to) sinking, insurance,\ninvestment, retirement, compensation, pension funds, and funds held on deposit,\nfor the purchase of any such bonds or other obligations and that any such bonds\nor other obligations shall be authorized security for all public deposits and\nshall be fully negotiable in this Commonwealth; provided, however, that nothing\ncontained in this section with regard to legal investments shall be construed as\nrelieving any person, firm or corporation from any duty of exercising reasonable\ncare in selecting securities.\n\nHISTORY: 1942, p. 404; Michie Code 1942, \u00a7 3145(25).","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}