Chap. 114.—-An ACT to amend the Tax Code of Virginia by adding thereto a new
section numbered 350-b, authorizing depositories of funds of certain county
treasurers. to deposit with the State Treasurer securities to protect such de-
‘posits, and to prescribe how controversies with respect to such securities shall
be heard and determined. [H B 215]

Approved March 6, 1942

1. ‘Be it enacted by the General Assembly of Virginia, That the

Tax Code of Virginia be amended by adding thereto a new section
numbered three hundred and fifty-b, as follows: ,
, Section 350-b. Deposits with Treasurer of Virginia to protect
deposits by county treasurers in certain counties; how controversies
determined—In any county of the Commonwealth having a population
of one thousand or more per square mile according to the last preceding
United States census, and in any county which adjoins a county having
a population of one thousand or more per square mile according to such
census, a depository of county funds may, in lieu of depositing securities
as provided in subsection (e) of section three hundred and fifty hereof,
deposit the said securities with the State Treasurer, whereupon the faith
and credit of the Commonwealth sha‘l be pledged for their return to the
depository in accordance with the provisions of the agreement under
which they are deposited. In cases of controversy arising between the
parties while the securities are actually in the custody of the State Treas-
urer, the Commonwealth of Virginia hereby consents to be sued with
respect thereto, and where the Commonwealth shall become a party to
any such suit, the State Treasurer and the Auditor of Public Accounts
shall be named defendants on behalf of the Commonwealth. Any such suit
shall be brought in the circuit court of the City of Richmond, and the
controversy shall be determined as in other suits at law or in equity, as
the case may be.