Virginia Code 15.2-5420: Status of bonds under Uniform Commercial Code
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Notwithstanding any of the provisions of this chapter or any recitals in any bonds issued under this chapter, all such bonds shall be deemed to be investment securities under the Uniform Commercial Code as enacted in this Commonwealth, subject only to the provisions of the bonds pertaining to registration.
Terms Used In Virginia Code 15.2-5420
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
1979, c. 416, § 15.1-1623; 1997, c. 587.