§ 58-1-3150

No treasurer or executive officer of any depository shall permit any public deposit to remain in any depository which is not a 'qualified public depository' as defined in § 2.2-4401 and which is not secured pursuant to the Virginia Security for Public Deposits Act (§ 2.2-4400 et seq.).\nCode 1950, § 58-948; 1984, c. 675; 1996, cc. 364, 390.