Any person may (i) deposit in the state treasury; (ii) bequeath money, stocks, or public bonds of any kind to be so deposited; or (iii) grant, devise, or bequeath property, real or personal, to be sold and the proceeds to be so deposited, in sums not less than $100, that shall be invested in securities that are legal investments under the laws of the Commonwealth for public funds for the benefit of the University, and in such case the interest or dividends accruing on such investments shall be paid to the board and appropriated by the board for general purposes unless some particular appropriation has been designated by the donor or testator. The State Treasurer shall notify the board of any such deposit in the state treasury.
Code 1919, § 822, § 23-81; 1956, c. 184; 2016, c. 588.
Structure Code of Virginia
Title 23.1 - Institutions of Higher Education; Other Educational and Cultural Institutions
Chapter 22 - University of Virginia
§ 23.1-2200. Corporate name; name of the University
§ 23.1-2202. Meetings; officers; committees
§ 23.1-2203. Courses of study to be taught
§ 23.1-2204. Salary of president and professors; fees
§ 23.1-2205. Secured obligations
§ 23.1-2206. Payment of bonds of the University
§ 23.1-2207. Payment of interest on debt of University; sinking fund
§ 23.1-2208. Provision for interest on certain bonds
§ 23.1-2209. Powers and duties
§ 23.1-2210. Investment of endowment funds, endowment income, etc.
§ 23.1-2211. The University of Virginia's College at Wise
§ 23.1-2212. Operations of Medical Center
§ 23.1-2213. Medical center management; capital projects; leases of property; procurement
§ 23.1-2214. Gifts, bequests, and devises
§ 23.1-2215. Donations for special purposes or objects
§ 23.1-2216. Disposition of donations
§ 23.1-2217. Reservation of nomination by donor
§ 23.1-2218. Commonwealth to be trustee of donations; liability of State Treasurer