When deposits are made in accordance with this chapter no official of a public depositor shall be personally liable for any loss resulting from the default or insolvency of any qualified public depository in the absence of negligence, malfeasance, misfeasance, or nonfeasance on his part or on the part of his agents.
Va. Code Ann. § 2.2-4410
Liability of public depositors
Known as the Virginia Security for Public Deposits Act
The act spans §§ 2–2 (12 sections).
1973, c. 172, § 2.1-370; 2001, c. 844; 2010, cc. 640, 674.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.