A. The assets of a charitable corporation incorporated in or doing any business in Virginia shall be deemed to be held in trust for the public for such purposes as are established by the governing documents of such charitable corporation, the gift or bequest made to such charitable corporation, or other applicable law. The Attorney General shall have the same authority to act on behalf of the public with respect to such assets as he has with respect to assets held by unincorporated charitable trusts and other charitable entities, including the authority to seek such judicial relief as may be necessary to protect the public interest in such assets.
B. Nothing contained in this section is intended to modify the standard of conduct applicable under existing law to the directors of charitable corporations incorporated in or doing any business in Virginia.
2002, c. 792; 2004, c. 289.
Structure Code of Virginia
Title 2.2 - Administration of Government
§ 2.2-500. Attorney General to be chief executive officer; duties generally
§ 2.2-501. Assistant and deputy Attorneys General
§ 2.2-504. Contingent and traveling expenses
§ 2.2-505. Official opinions of Attorney General
§ 2.2-506. Legal services to attorneys for the Commonwealth in certain proceedings; costs
§ 2.2-507. Legal service in civil matters
§ 2.2-507.1. Authority of Attorney General regarding charitable assets
§ 2.2-507.2. Youth Internet Safety Fund established
§ 2.2-507.3. Cooperation with the Opioid Abatement Authority
§ 2.2-508. Legal service in certain redistricting proceedings
§ 2.2-509. Representation in administrative proceedings
§ 2.2-509.1. Powers of investigators; enforcement of certain tobacco laws
§ 2.2-510. Employment of special counsel generally
§ 2.2-510.1. Open negotiation for employment of special counsel
§ 2.2-510.2. Employment of outside counsel where a conflict of interests exists
§ 2.2-511.1. Public integrity; law-enforcement misconduct
§ 2.2-512. Employment of special counsel to prosecute persons illegally practicing law
§ 2.2-513. Counsel for Commonwealth in federal matters
§ 2.2-514. Compromise and settlement of disputes
§ 2.2-515. Service on board of national tobacco trust entity
§ 2.2-515.1. Statewide Facilitator for Victims of Domestic Violence
§ 2.2-517. Division of Consumer Counsel created; duties
§ 2.2-518. Division of Debt Collection
§ 2.2-519. Prompt collection of accounts receivable
§ 2.2-520. Office of Civil Rights created; duties
§ 2.2-521. Procedure for issuance of subpoena duces tecum
§ 2.2-522. Filing with the Office deemed filing with other state agencies