§ 10.1-1618 Title to property
The Authority may acquire title to property in its own name or in the name of the Commonwealth for and on behalf of the Authority. In the event that the Authority ceases to operate its projects and to promote the purposes stated in § 10.1-1601 or is dissolved, the title to real property held by the Authority shall transfer to the locality in which the majority of such property is located; however, in the event that an environmental audit of any real property or interest therein, or portion of such property, to be transferred pursuant to this section discloses any environmental liability or violation of law or regulation, present or contingent, the locality may reject the transfer of any portion of such property that it determines to be environmentally defective.
History
This law was first created in 1986. The record of its establishment is cataloged in chapter 360 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1986 “Acts” aren’t available online. It has been modified 3 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 1988, chapter 891; in 1991, chapter 706; in 2025, chapters 169 and 176.
1986, c. 360, § 10-158.16; 1988, c. 891; 1991, c. 706; 2025, cc. 169, 176.