{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/22.1-232.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/22.1-232.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/22.1-232.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/22.1-232.html"}],"law_id":62553,"edition_id":1,"section_id":62553,"structure_id":14046,"section_number":"22.1-232","catch_line":"Contracts","history":"Code 1950, \u00a7\u00a7 22-330.41, 22-330.42; 1974, c. 336; 1980, c. 559; 2001, c. 483.","full_text":"A\n\nWhere a school board undertakes a career and technical education project by contract with a corporation, the school board may advance, contribute and loan funds to the corporation. The contract shall contain:1\n\na system of accounting;2\n\nthe terms upon which any profits from the sale of the project will be allocated between the school board and the corporation;3\n\nconditions for the return with interest of any funds advanced by the school board;4\n\na provision that upon the dissolution of the corporation, any assets remaining after payment of just debts shall be transferred to and become the property of the school board;5\n\na provision that, upon the completion of any project, the school board may determine not to participate in further projects;6\n\na provision that the school board may at any time require the return of funds to which it is entitled.B\n\nWhere the school board contributes or loans funds to the corporation, such contract shall provide for the posting of a bond with surety by the officers of the corporation conditioned to protect the rights of the school board.C\n\nSuch contract may provide for the establishment of an escrow fund for the purpose of funding future projects.","order_by":null,"text":{"0":{"id":228110,"text":"Where a school board undertakes a career and technical education project by contract with a corporation, the school board may advance, contribute and loan funds to the corporation. The contract shall contain:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":228111,"text":"a system of accounting;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":228112,"text":"the terms upon which any profits from the sale of the project will be allocated between the school board and the corporation;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":228113,"text":"conditions for the return with interest of any funds advanced by the school board;","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":228114,"text":"a provision that upon the dissolution of the corporation, any assets remaining after payment of just debts shall be transferred to and become the property of the school board;","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"A5"},"5":{"id":228115,"text":"a provision that, upon the completion of any project, the school board may determine not to participate in further projects;","type":"section","prefixes":["A","5"],"prefix":"5","entire_prefix":"A5","prefix_anchor":"A5","level":2,"prior_prefix":"A4","next_prefix":"A6"},"6":{"id":228116,"text":"a provision that the school board may at any time require the return of funds to which it is entitled.","type":"section","prefixes":["A","6"],"prefix":"6","entire_prefix":"A6","prefix_anchor":"A6","level":2,"prior_prefix":"A5","next_prefix":"B"},"7":{"id":228117,"text":"Where the school board contributes or loans funds to the corporation, such contract shall provide for the posting of a bond with surety by the officers of the corporation conditioned to protect the rights of the school board.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A6","next_prefix":"C"},"8":{"id":228118,"text":"Such contract may provide for the establishment of an escrow fund for the purpose of funding future projects.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":14046,"edition_id":1,"name":"Career and Technical Education Projects","identifier":"5","label":"article","depth":3,"order_by":1,"parent_id":12954,"metadata":{},"date_created":"2026-06-26 03:46:41","date_modified":"2026-06-26 03:46:41","permalink":{"id":181983,"object_type":"structure","relational_id":14046,"identifier":"5","token":"22.1\/13\/5","url":"\/22.1\/13\/5\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12954,"edition_id":1,"name":"Programs, Courses of Instruction and Textbooks","identifier":"13","label":"chapter","depth":2,"order_by":1,"parent_id":12823,"metadata":{},"date_created":"2026-06-26 03:44:04","date_modified":"2026-06-26 03:44:04","permalink":{"id":181369,"object_type":"structure","relational_id":12954,"identifier":"13","token":"22.1\/13","url":"\/22.1\/13\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12823,"edition_id":1,"name":"Education","identifier":"22.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:55","date_modified":"2026-06-26 03:43:55","permalink":{"id":180949,"object_type":"structure","relational_id":12823,"identifier":"22.1","token":"22.1","url":"\/22.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":55142,"structure_id":14046,"section_number":"22.1-228","catch_line":"Definitions","url":"\/22.1-228\/","token":"22.1\/13\/5\/22.1-228","metadata":false},{"id":55182,"structure_id":14046,"section_number":"22.1-229","catch_line":"Projects may be established directly or by contract with corporation","url":"\/22.1-229\/","token":"22.1\/13\/5\/22.1-229","metadata":false},{"id":77239,"structure_id":14046,"section_number":"22.1-230","catch_line":"Approval of corporation's articles and bylaws","url":"\/22.1-230\/","token":"22.1\/13\/5\/22.1-230","metadata":false},{"id":77951,"structure_id":14046,"section_number":"22.1-231","catch_line":"Review of projects by Board of Education","url":"\/22.1-231\/","token":"22.1\/13\/5\/22.1-231","metadata":false},{"id":62553,"structure_id":14046,"section_number":"22.1-232","catch_line":"Contracts","url":"\/22.1-232\/","token":"22.1\/13\/5\/22.1-232","metadata":false},{"id":62962,"structure_id":14046,"section_number":"22.1-233","catch_line":"Application of zoning laws and building codes; inspection of work; school boards to make no warranties","url":"\/22.1-233\/","token":"22.1\/13\/5\/22.1-233","metadata":false},{"id":83131,"structure_id":14046,"section_number":"22.1-234","catch_line":"Acquisition of sites for projects; sale of completed projects and other school board property","url":"\/22.1-234\/","token":"22.1\/13\/5\/22.1-234","metadata":false},{"id":69350,"structure_id":14046,"section_number":"22.1-235","catch_line":"Transportation of students; insurance","url":"\/22.1-235\/","token":"22.1\/13\/5\/22.1-235","metadata":false},{"id":86180,"structure_id":14046,"section_number":"22.1-236","catch_line":"Immunity of board members and officers and directors of corporations","url":"\/22.1-236\/","token":"22.1\/13\/5\/22.1-236","metadata":false},{"id":58064,"structure_id":14046,"section_number":"22.1-237","catch_line":"Academic credit","url":"\/22.1-237\/","token":"22.1\/13\/5\/22.1-237","metadata":false}],"previous_section":{"id":77951,"structure_id":14046,"section_number":"22.1-231","catch_line":"Review of projects by Board of Education","url":"\/22.1-231\/","token":"22.1\/13\/5\/22.1-231","metadata":false},"next_section":{"id":62962,"structure_id":14046,"section_number":"22.1-233","catch_line":"Application of zoning laws and building codes; 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The record of this law\u2019s original creation isn\u2019t available online. It has been modified 3 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1974, chapter 336; in 1980, chapter 559; in 2001, chapter 483<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":182001,"object_type":"law","relational_id":62553,"identifier":"22.1-232","token":"22.1\/13\/5\/22.1-232","url":"\/22.1-232\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/22.1-232\/","token":"22.1\/13\/5\/22.1-232","dublin_core":{"Title":"Contracts","Type":"Text","Format":"text\/html","Identifier":"\u00a7 22.1-232","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Where a school board<\/span> undertakes a career and technical education project<\/span> by contract<\/span> with a corporation<\/span>, the school board<\/span> may advance, contribute and loan funds to the corporation<\/span>. The contract<\/span> shall contain: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> a system of accounting; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> the terms upon which any profits from the sale of the project will be allocated between the school board<\/span> and the corporation<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> conditions for the return with interest of any funds advanced by the school board<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> a provision that upon the dissolution of the corporation<\/span>, any assets<\/span> remaining after payment of just debts shall be transferred to and become the property of the school board<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> a provision that, upon the completion of any project, the school board<\/span> may determine not to participate in further projects<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> a provision that the school board<\/span> may at any time require the return of funds to which it is entitled. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Where the school board<\/span> contributes or loans funds to the corporation<\/span>, such contract<\/span> shall provide for the posting of a bond<\/span> with surety<\/span> by the officers of the corporation<\/span> conditioned to protect the rights of the school board<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Such contract<\/span> may provide for the establishment of an escrow fund for the purpose of funding future projects<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCONTRACTS (\u00a7 22.1-232)\n\nA. Where a school board undertakes a career and technical education project by\ncontract with a corporation, the school board may advance, contribute and loan\nfunds to the corporation. The contract shall contain:\n\n 1. a system of accounting;\n\n 2. the terms upon which any profits from the sale of the project will be\n allocated between the school board and the corporation;\n\n 3. conditions for the return with interest of any funds advanced by the school\n board;\n\n 4. a provision that upon the dissolution of the corporation, any assets\n remaining after payment of just debts shall be transferred to and become the\n property of the school board;\n\n 5. a provision that, upon the completion of any project, the school board may\n determine not to participate in further projects;\n\n 6. a provision that the school board may at any time require the return of\n funds to which it is entitled.\n\nB. Where the school board contributes or loans funds to the corporation, such\ncontract shall provide for the posting of a bond with surety by the officers of\nthe corporation conditioned to protect the rights of the school board.\n\nC. Such contract may provide for the establishment of an escrow fund for the\npurpose of funding future projects.\n\nHISTORY: Code 1950, \u00a7\u00a7 22-330.41, 22-330.42; 1974, c. 336; 1980, c. 559; 2001,\nc. 483.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}