CHAPTER 268

An Act to amend and reenact § 11, as amended, of Chapter 161 of the Acts
of Assembly of 1946, approved March 11, 1946, which provided for
police and firemen’s pensions and benefits in certain counties, the sec-
tion relating to investment of funds. (H 844]

Approved March 11, 1958

Be it enacted by the General Assembly of Virginia:
1. That § 11, as amended, of Chapter 161 of the Acts of Assembly of
1946, approved March 11, 1946, be amended and reenacted as follows:

§1 Any and all cash assets and funds on hand at any time not
necessary for immediate payment of pensions or benefits hereunder * shall
be invested in securities that are legal investments under the laws of the
Commonwealth for public sinking funds, or be invested in accordance with
the provisions of Chapter 3 of Title 26 of the Code of Virginia; and any
such investments heretofore made are hereby validated. Any and all funds
raised by any board created under this act for the payment of pensions and
benefits shall be paid over to the treasurer of the board and deposited by
him to its credit and paid out by him as hereinbefore provided.
2. An emergency exists and this act is in force from its passage.