{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/23.1-1019.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/23.1-1019.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/23.1-1019.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/23.1-1019.html"}],"law_id":68739,"edition_id":1,"section_id":68739,"structure_id":14810,"section_number":"23.1-1019","catch_line":"Covered institutions; operational authority; property, grants, and loans","history":"2005, cc. 933, 945, \u00a7 23-38.112; 2016, c. 588.","full_text":"A\n\nNothing in this section shall limit or reduce the authority granted to a covered institution in §§ 23.1-1016 and 23.1-1028 concerning the planning, design, construction, and implementation of capital projects and leases.B\n\nEach covered institution may continue to hold, possess, operate, and dispose of any real, personal, tangible, or intangible property that such covered institution held, possessed, or operated prior to the effective date of its initial management agreement as follows:1\n\nFor real property, including land, buildings, and any improvements to land or buildings, acquired or constructed in whole or in part with general fund appropriations or proceeds from a general obligation bond issue under Article X, Section 9 (a) or 9 (b) of the Constitution of Virginia, the covered institution shall (i) hold, possess, and operate such property in accordance with the institution’s enabling statutes, this article, and any policies adopted by the governing board of the institution pursuant to this article and (ii) dispose of such property in accordance with general law applicable to state-owned property and the institution’s enabling statutes.2\n\nFor real property, including land, buildings, and any improvements to land or buildings, acquired or constructed either (i) entirely with nongeneral fund appropriations or proceeds from a nongeneral fund revenue bond issue under Article X, Section 9 (c) or 9 (d) of the Constitution of Virginia or (ii) entirely with funds other than funds appropriated by the General Assembly or proceeds from a general obligation bond issue under Article X, Section 9 (a) or 9 (b) of the Constitution of Virginia, the covered institution shall hold, possess, operate, and dispose of such property in accordance with the institution’s enabling statutes, notwithstanding the provisions of this article, the approval requirements of subdivision B 1 of § 23.1-1301, and any policies adopted by the governing board of the institution pursuant to this article.3\n\nFor personal property, the covered institution shall hold, possess, operate, and dispose of such property in accordance with the institution’s enabling statutes, this article, and any policies adopted by the governing board of the institution pursuant to this article.C\n\nAfter the effective date of the initial management agreement, a covered institution may acquire any real property, construct improvements on real property pursuant to \u00a7 23.1-1016, and acquire any personal property, tangible or intangible, and hold, possess, operate, and dispose of such real and personal property as follows:1\n\nFor real property, including land, buildings, and improvements to land and buildings, acquired or constructed with funds appropriated by the General Assembly for that purpose or with proceeds from a general obligation bond issue under Article X, Section 9 (a) or 9 (b) of the Constitution of Virginia, the covered institution shall (i) hold, possess, and operate such property in accordance with the institution’s enabling statutes, this article, and any policies adopted by the governing board of the institution pursuant to this article, and (ii) dispose of such property in accordance with general law applicable to state-owned property and with the covered institution’s enabling statutes.2\n\nFor real property, including land, buildings, and improvements to land or buildings, acquired with any funds in the covered institution’s possession other than funds appropriated by the General Assembly or proceeds from a general obligation bond issue under Article X, Section 9 (a) or 9 (b) of the Constitution of Virginia, the institution shall hold, possess, operate, dispose of, and otherwise deal with such property, or any right, easement, estate, or interest in such property, acquired by purchase, exchange, gift, assignment, transfer, foreclosure, lease, bequest, devise, operation of law, or other means, in accordance with the covered institution’s enabling statutes, notwithstanding the provisions of this article, the approval requirements of subdivision B 1 of § 23.1-1301, and any policies adopted by the governing board of the institution pursuant to this article.3\n\nFor personal property, the institution shall hold, possess, operate, and dispose of such property in accordance with the institution’s enabling statutes, this article, and any policies adopted by the governing board of the institution pursuant to this article.D\n\nWith the approval of the Governor or as otherwise provided by law, and consistent with subsections B and C, a covered institution may (i) sell, assign, encumber, mortgage, demolish, or otherwise dispose of any project, any other real, personal, tangible, or intangible property, any right, easement, estate, or interest in any such project or property, or any deed of trust or mortgage lien interest owned by it, under its control or custody or in its possession, and may release or relinquish any right, title, claim, lien, interest, easement, or demand however acquired, including any equity or right of redemption in property foreclosed by it, and (ii) do any of the foregoing by public or private transaction.E\n\nA covered institution may accept loans, grants, contributions, or other assistance from the federal government, the Commonwealth, any political subdivision of the Commonwealth, or any other public or private source to carry out its mission as a public institution of higher education and any of the purposes of this article. A covered institution may enter into any agreement or contract regarding the acceptance, use, or repayment of any such loan, grant, contribution, or assistance and may enter into other agreements with any such entity in furtherance of the purposes of this article.F\n\nLocalities may lend or donate money or other property to a covered institution for any of the institution’s purposes. Any local government making a grant or loan may restrict the use of the grant or loan to a specific project, within or outside such locality.G\n\nNotwithstanding any other provision of this chapter, no covered institution shall take action with regard to any real or personal property if such action would be deemed to be in violation of any requirement or covenant contained in any outstanding bonds, notes, or other obligations.","order_by":null,"text":{"0":{"id":248835,"text":"Nothing in this section shall limit or reduce the authority granted to a covered institution in §§ 23.1-1016 and 23.1-1028 concerning the planning, design, construction, and implementation of capital projects and leases.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":248836,"text":"Each covered institution may continue to hold, possess, operate, and dispose of any real, personal, tangible, or intangible property that such covered institution held, possessed, or operated prior to the effective date of its initial management agreement as follows:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B1"},"2":{"id":248837,"text":"For real property, including land, buildings, and any improvements to land or buildings, acquired or constructed in whole or in part with general fund appropriations or proceeds from a general obligation bond issue under Article X, Section 9 (a) or 9 (b) of the Constitution of Virginia, the covered institution shall (i) hold, possess, and operate such property in accordance with the institution’s enabling statutes, this article, and any policies adopted by the governing board of the institution pursuant to this article and (ii) dispose of such property in accordance with general law applicable to state-owned property and the institution’s enabling statutes.","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"3":{"id":248838,"text":"For real property, including land, buildings, and any improvements to land or buildings, acquired or constructed either (i) entirely with nongeneral fund appropriations or proceeds from a nongeneral fund revenue bond issue under Article X, Section 9 (c) or 9 (d) of the Constitution of Virginia or (ii) entirely with funds other than funds appropriated by the General Assembly or proceeds from a general obligation bond issue under Article X, Section 9 (a) or 9 (b) of the Constitution of Virginia, the covered institution shall hold, possess, operate, and dispose of such property in accordance with the institution’s enabling statutes, notwithstanding the provisions of this article, the approval requirements of subdivision B 1 of § 23.1-1301, and any policies adopted by the governing board of the institution pursuant to this article.","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"B3"},"4":{"id":248839,"text":"For personal property, the covered institution shall hold, possess, operate, and dispose of such property in accordance with the institution’s enabling statutes, this article, and any policies adopted by the governing board of the institution pursuant to this article.","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B2","next_prefix":"C"},"5":{"id":248840,"text":"After the effective date of the initial management agreement, a covered institution may acquire any real property, construct improvements on real property pursuant to \u00a7 23.1-1016, and acquire any personal property, tangible or intangible, and hold, possess, operate, and dispose of such real and personal property as follows:","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B3","next_prefix":"C1"},"6":{"id":248841,"text":"For real property, including land, buildings, and improvements to land and buildings, acquired or constructed with funds appropriated by the General Assembly for that purpose or with proceeds from a general obligation bond issue under Article X, Section 9 (a) or 9 (b) of the Constitution of Virginia, the covered institution shall (i) hold, possess, and operate such property in accordance with the institution’s enabling statutes, this article, and any policies adopted by the governing board of the institution pursuant to this article, and (ii) dispose of such property in accordance with general law applicable to state-owned property and with the covered institution’s enabling statutes.","type":"section","prefixes":["C","1"],"prefix":"1","entire_prefix":"C1","prefix_anchor":"C1","level":2,"prior_prefix":"C","next_prefix":"C2"},"7":{"id":248842,"text":"For real property, including land, buildings, and improvements to land or buildings, acquired with any funds in the covered institution’s possession other than funds appropriated by the General Assembly or proceeds from a general obligation bond issue under Article X, Section 9 (a) or 9 (b) of the Constitution of Virginia, the institution shall hold, possess, operate, dispose of, and otherwise deal with such property, or any right, easement, estate, or interest in such property, acquired by purchase, exchange, gift, assignment, transfer, foreclosure, lease, bequest, devise, operation of law, or other means, in accordance with the covered institution’s enabling statutes, notwithstanding the provisions of this article, the approval requirements of subdivision B 1 of § 23.1-1301, and any policies adopted by the governing board of the institution pursuant to this article.","type":"section","prefixes":["C","2"],"prefix":"2","entire_prefix":"C2","prefix_anchor":"C2","level":2,"prior_prefix":"C1","next_prefix":"C3"},"8":{"id":248843,"text":"For personal property, the institution shall hold, possess, operate, and dispose of such property in accordance with the institution’s enabling statutes, this article, and any policies adopted by the governing board of the institution pursuant to this article.","type":"section","prefixes":["C","3"],"prefix":"3","entire_prefix":"C3","prefix_anchor":"C3","level":2,"prior_prefix":"C2","next_prefix":"D"},"9":{"id":248844,"text":"With the approval of the Governor or as otherwise provided by law, and consistent with subsections B and C, a covered institution may (i) sell, assign, encumber, mortgage, demolish, or otherwise dispose of any project, any other real, personal, tangible, or intangible property, any right, easement, estate, or interest in any such project or property, or any deed of trust or mortgage lien interest owned by it, under its control or custody or in its possession, and may release or relinquish any right, title, claim, lien, interest, easement, or demand however acquired, including any equity or right of redemption in property foreclosed by it, and (ii) do any of the foregoing by public or private transaction.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C3","next_prefix":"E"},"10":{"id":248845,"text":"A covered institution may accept loans, grants, contributions, or other assistance from the federal government, the Commonwealth, any political subdivision of the Commonwealth, or any other public or private source to carry out its mission as a public institution of higher education and any of the purposes of this article. A covered institution may enter into any agreement or contract regarding the acceptance, use, or repayment of any such loan, grant, contribution, or assistance and may enter into other agreements with any such entity in furtherance of the purposes of this article.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"11":{"id":248846,"text":"Localities may lend or donate money or other property to a covered institution for any of the institution’s purposes. Any local government making a grant or loan may restrict the use of the grant or loan to a specific project, within or outside such locality.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E","next_prefix":"G"},"12":{"id":248847,"text":"Notwithstanding any other provision of this chapter, no covered institution shall take action with regard to any real or personal property if such action would be deemed to be in violation of any requirement or covenant contained in any outstanding bonds, notes, or other obligations.","type":"section","prefixes":["G"],"prefix":"G","entire_prefix":"G","prefix_anchor":"G","level":1,"prior_prefix":"F"}},"ancestry":[{"id":14810,"edition_id":1,"name":"Restructured Financial and Administrative Authority; Covered Institutions; Management Agreements","identifier":"4","label":"article","depth":4,"order_by":1,"parent_id":14809,"metadata":{},"date_created":"2026-06-26 03:50:04","date_modified":"2026-06-26 03:50:04","permalink":{"id":185539,"object_type":"structure","relational_id":14810,"identifier":"4","token":"23.1\/III\/10\/4","url":"\/23.1\/III\/10\/4\/","edition_id":1,"permalink":0,"preferred":1}},{"id":14809,"edition_id":1,"name":"Restructured Higher Education Financial and Administrative Operations Act","identifier":"10","label":"chapter","depth":3,"order_by":1,"parent_id":14060,"metadata":{},"date_created":"2026-06-26 03:50:04","date_modified":"2026-06-26 03:50:04","permalink":{"id":185515,"object_type":"structure","relational_id":14809,"identifier":"10","token":"23.1\/III\/10","url":"\/23.1\/III\/10\/","edition_id":1,"permalink":0,"preferred":1}},{"id":14060,"edition_id":1,"name":"Management and Financing","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":13111,"metadata":{},"date_created":"2026-06-26 03:46:44","date_modified":"2026-06-26 03:46:44","permalink":{"id":185513,"object_type":"structure","relational_id":14060,"identifier":"III","token":"23.1\/III","url":"\/23.1\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13111,"edition_id":1,"name":"Institutions of Higher Education; Other Educational and Cultural Institutions","identifier":"23.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:18","date_modified":"2026-06-26 03:44:18","permalink":{"id":184581,"object_type":"structure","relational_id":13111,"identifier":"23.1","token":"23.1","url":"\/23.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":72164,"structure_id":14810,"section_number":"23.1-1004","catch_line":"Management agreement; eligibility and application","url":"\/23.1-1004\/","token":"23.1\/III\/10\/4\/23.1-1004","metadata":false},{"id":83668,"structure_id":14810,"section_number":"23.1-1005","catch_line":"Approval of a management agreement","url":"\/23.1-1005\/","token":"23.1\/III\/10\/4\/23.1-1005","metadata":false},{"id":56640,"structure_id":14810,"section_number":"23.1-1006","catch_line":"Management agreement; contents and scope","url":"\/23.1-1006\/","token":"23.1\/III\/10\/4\/23.1-1006","metadata":false},{"id":63108,"structure_id":14810,"section_number":"23.1-1007","catch_line":"Management agreement; duration and oversight","url":"\/23.1-1007\/","token":"23.1\/III\/10\/4\/23.1-1007","metadata":false},{"id":58529,"structure_id":14810,"section_number":"23.1-1008","catch_line":"Covered institutions; operational authority generally","url":"\/23.1-1008\/","token":"23.1\/III\/10\/4\/23.1-1008","metadata":false},{"id":68969,"structure_id":14810,"section_number":"23.1-1009","catch_line":"Covered institutions; operational authority; projects","url":"\/23.1-1009\/","token":"23.1\/III\/10\/4\/23.1-1009","metadata":false},{"id":71430,"structure_id":14810,"section_number":"23.1-1010","catch_line":"Covered institutions; operational authority; creation of entities and participation in joint ventures","url":"\/23.1-1010\/","token":"23.1\/III\/10\/4\/23.1-1010","metadata":false},{"id":66142,"structure_id":14810,"section_number":"23.1-1011","catch_line":"Covered institutions; operational authority; campus police","url":"\/23.1-1011\/","token":"23.1\/III\/10\/4\/23.1-1011","metadata":false},{"id":69766,"structure_id":14810,"section_number":"23.1-1012","catch_line":"Covered institutions; operational authority; financial operations generally","url":"\/23.1-1012\/","token":"23.1\/III\/10\/4\/23.1-1012","metadata":false},{"id":79752,"structure_id":14810,"section_number":"23.1-1013","catch_line":"Covered institutions; operational authority; financial operations; investment of operating funds","url":"\/23.1-1013\/","token":"23.1\/III\/10\/4\/23.1-1013","metadata":false},{"id":68235,"structure_id":14810,"section_number":"23.1-1014","catch_line":"Covered institutions; operational authority; financial operations; financing and indebtedness","url":"\/23.1-1014\/","token":"23.1\/III\/10\/4\/23.1-1014","metadata":false},{"id":65904,"structure_id":14810,"section_number":"23.1-1015","catch_line":"Covered institutions; operational authority; financial operations; power to issue bonds, notes, or other obligations","url":"\/23.1-1015\/","token":"23.1\/III\/10\/4\/23.1-1015","metadata":false},{"id":86805,"structure_id":14810,"section_number":"23.1-1016","catch_line":"Covered institutions; operational authority; financial operations; capital projects","url":"\/23.1-1016\/","token":"23.1\/III\/10\/4\/23.1-1016","metadata":false},{"id":74516,"structure_id":14810,"section_number":"23.1-1017","catch_line":"Covered institutions; operational authority; procurement","url":"\/23.1-1017\/","token":"23.1\/III\/10\/4\/23.1-1017","metadata":false},{"id":79632,"structure_id":14810,"section_number":"23.1-1018","catch_line":"Covered institutions; operational authority; information technology","url":"\/23.1-1018\/","token":"23.1\/III\/10\/4\/23.1-1018","metadata":false},{"id":68739,"structure_id":14810,"section_number":"23.1-1019","catch_line":"Covered institutions; operational authority; property, grants, and loans","url":"\/23.1-1019\/","token":"23.1\/III\/10\/4\/23.1-1019","metadata":false},{"id":61212,"structure_id":14810,"section_number":"23.1-1020","catch_line":"Covered institutions; operational authority; human resources; covered employees generally","url":"\/23.1-1020\/","token":"23.1\/III\/10\/4\/23.1-1020","metadata":false},{"id":78983,"structure_id":14810,"section_number":"23.1-1021","catch_line":"Covered institutions; operational authority; human resources; establishment of a human resources program","url":"\/23.1-1021\/","token":"23.1\/III\/10\/4\/23.1-1021","metadata":false},{"id":59817,"structure_id":14810,"section_number":"23.1-1022","catch_line":"Covered institutions; operational authority; human resources; election by certain covered employees","url":"\/23.1-1022\/","token":"23.1\/III\/10\/4\/23.1-1022","metadata":false},{"id":67808,"structure_id":14810,"section_number":"23.1-1023","catch_line":"Covered institutions; operational authority; human resources; grievance procedures","url":"\/23.1-1023\/","token":"23.1\/III\/10\/4\/23.1-1023","metadata":false},{"id":75091,"structure_id":14810,"section_number":"23.1-1024","catch_line":"Covered institutions; operational authority; human resources; miscellaneous personnel matters","url":"\/23.1-1024\/","token":"23.1\/III\/10\/4\/23.1-1024","metadata":false},{"id":76407,"structure_id":14810,"section_number":"23.1-1025","catch_line":"Covered institutions; operational authority; human resources; certain insurance plans","url":"\/23.1-1025\/","token":"23.1\/III\/10\/4\/23.1-1025","metadata":false},{"id":64122,"structure_id":14810,"section_number":"23.1-1026","catch_line":"Covered institutions; operational authority; human resources; severance policies","url":"\/23.1-1026\/","token":"23.1\/III\/10\/4\/23.1-1026","metadata":false},{"id":82551,"structure_id":14810,"section_number":"23.1-1027","catch_line":"Covered institutions; duties; tuition, fees, rentals, and other charges","url":"\/23.1-1027\/","token":"23.1\/III\/10\/4\/23.1-1027","metadata":false},{"id":73063,"structure_id":14810,"section_number":"23.1-1028","catch_line":"Covered institutions; duties; leases of property","url":"\/23.1-1028\/","token":"23.1\/III\/10\/4\/23.1-1028","metadata":false}],"previous_section":{"id":79632,"structure_id":14810,"section_number":"23.1-1018","catch_line":"Covered institutions; operational authority; information technology","url":"\/23.1-1018\/","token":"23.1\/III\/10\/4\/23.1-1018","metadata":false},"next_section":{"id":61212,"structure_id":14810,"section_number":"23.1-1020","catch_line":"Covered institutions; operational authority; human resources; covered employees generally","url":"\/23.1-1020\/","token":"23.1\/III\/10\/4\/23.1-1020","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/23.1-1019\/","history_text":"

This law was first created in 2005. The record of its establishment is cataloged in chapters 933<\/a> and 945<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. 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. That modification is as follows: in 2016, chapter 588<\/a>.<\/p>","references":[{"id":57884,"section_number":"2.2-1124","catch_line":"Disposition of surplus materials","order_by":null,"url":"\/2.2-1124\/"},{"id":86857,"section_number":"2.2-1150","catch_line":"Conveyance and transfers of real property by state agencies; approval of Governor and Attorney General; notice to members of General Assembly","order_by":null,"url":"\/2.2-1150\/"},{"id":58899,"section_number":"2.2-1153","catch_line":"State agencies and institutions to notify Department of property not used or required; criteria","order_by":null,"url":"\/2.2-1153\/"},{"id":73063,"section_number":"23.1-1028","catch_line":"Covered institutions; duties; leases of property","order_by":null,"url":"\/23.1-1028\/"}],"refers_to":[{"id":86805,"section_number":"23.1-1016","catch_line":"Covered institutions; operational authority; financial operations; capital projects","order_by":null,"url":"\/23.1-1016\/"},{"id":73063,"section_number":"23.1-1028","catch_line":"Covered institutions; duties; leases of property","order_by":null,"url":"\/23.1-1028\/"},{"id":86654,"section_number":"23.1-1301","catch_line":"Governing boards; powers","order_by":null,"url":"\/23.1-1301\/"}],"permalink":{"id":185601,"object_type":"law","relational_id":68739,"identifier":"23.1-1019","token":"23.1\/III\/10\/4\/23.1-1019","url":"\/23.1-1019\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/23.1-1019\/","token":"23.1\/III\/10\/4\/23.1-1019","dublin_core":{"Title":"Covered institutions; operational authority; property, grants, and loans","Type":"Text","Format":"text\/html","Identifier":"\u00a7 23.1-1019","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Nothing in this section shall limit or reduce the authority granted to a covered institution<\/span> in §§ 23.1-1016<\/a> and 23.1-1028<\/a> concerning the planning, design, construction, and implementation of capital projects<\/span> and leases. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Each covered institution<\/span> may continue to hold, possess, operate, and dispose of any real, personal, tangible, or intangible property that such covered institution<\/span> held, possessed, or operated prior to the effective date of its initial management agreement<\/span> as follows: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> For real property, including land, buildings, and any improvements to land or buildings, acquired or constructed in whole or in part with general fund appropriations or proceeds from a general obligation bond<\/span> issue<\/span> under Article X, Section 9 (a) or 9 (b) of the Constitution of Virginia, the covered institution<\/span> shall (i) hold, possess, and operate such property in accordance with the institution’s enabling statutes<\/span>, this article, and any policies adopted by the governing board<\/span> of the institution pursuant to this article and (ii) dispose of such property in accordance with general law<\/span> applicable to state-owned property and the institution’s enabling statutes<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> For real property, including land, buildings, and any improvements to land or buildings, acquired or constructed either (i) entirely with nongeneral fund appropriations or proceeds from a nongeneral fund revenue bond<\/span> issue<\/span> under Article X, Section 9 (c) or 9 (d) of the Constitution of Virginia or (ii) entirely with funds other than funds appropriated by the General Assembly or proceeds from a general obligation bond<\/span> issue<\/span> under Article X, Section 9 (a) or 9 (b) of the Constitution of Virginia, the covered institution<\/span> shall hold, possess, operate, and dispose of such property in accordance with the institution’s enabling statutes<\/span>, notwithstanding the provisions of this article, the approval requirements of subdivision B 1 of § 23.1-1301<\/a>, and any policies adopted by the governing board<\/span> of the institution pursuant to this article. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> For personal property, the covered institution<\/span> shall hold, possess, operate, and dispose of such property in accordance with the institution’s enabling statutes<\/span>, this article, and any policies adopted by the governing board<\/span> of the institution pursuant to this article. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> After the effective date of the initial management agreement<\/span>, a covered institution<\/span> may acquire any real property, construct improvements on real property pursuant to \u00a7 23.1-1016<\/a>, and acquire any personal property, tangible or intangible, and hold, possess, operate, and dispose of such real and personal property as follows: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> For real property, including land, buildings, and improvements to land and buildings, acquired or constructed with funds appropriated by the General Assembly for that purpose or with proceeds from a general obligation bond<\/span> issue<\/span> under Article X, Section 9 (a) or 9 (b) of the Constitution of Virginia, the covered institution<\/span> shall (i) hold, possess, and operate such property in accordance with the institution’s enabling statutes<\/span>, this article, and any policies adopted by the governing board<\/span> of the institution pursuant to this article, and (ii) dispose of such property in accordance with general law<\/span> applicable to state-owned property and with the covered institution<\/span>’s enabling statutes<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> For real property, including land, buildings, and improvements to land or buildings, acquired with any funds in the covered institution<\/span>’s possession<\/span> other than funds appropriated by the General Assembly or proceeds from a general obligation bond<\/span> issue<\/span> under Article X, Section 9 (a) or 9 (b) of the Constitution of Virginia, the institution shall hold, possess, operate, dispose of, and otherwise deal with such property, or any right, easement, estate, or interest in such property, acquired by purchase, exchange, gift, assignment, transfer, foreclosure, lease, bequest, devise, operation of law<\/span>, or other means, in accordance with the covered institution<\/span>’s enabling statutes<\/span>, notwithstanding the provisions of this article, the approval requirements of subdivision B 1 of § 23.1-1301<\/a>, and any policies adopted by the governing board<\/span> of the institution pursuant to this article. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> For personal property, the institution shall hold, possess, operate, and dispose of such property in accordance with the institution’s enabling statutes<\/span>, this article, and any policies adopted by the governing board<\/span> of the institution pursuant to this article. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> With the approval of the Governor or as otherwise provided by law<\/span>, and consistent with subsections B and C, a covered institution<\/span> may (i) sell, assign, encumber, mortgage, demolish, or otherwise dispose of any project<\/span>, any other real, personal, tangible, or intangible property, any right, easement, estate, or interest in any such project<\/span> or property, or any deed of trust or mortgage lien<\/span> interest owned by it, under its control or custody<\/span> or in its possession<\/span>, and may release or relinquish any right, title, claim, lien<\/span>, interest, easement, or demand however acquired, including any equity<\/span> or right of redemption<\/span> in property foreclosed by it, and (ii) do any of the foregoing by public or private transaction. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> A covered institution<\/span> may accept loans, grants, contributions, or other assistance from the federal government, the Commonwealth, any political subdivision of the Commonwealth, or any other public or private source to carry out its mission as a public institution of higher education<\/span> and any of the purposes of this article. A covered institution<\/span> may enter into any agreement or contract<\/span> regarding the acceptance, use, or repayment of any such loan, grant, contribution, or assistance and may enter into other agreements with any such entity in furtherance of the purposes of this article. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> Localities may lend or donate money or other property to a covered institution<\/span> for any of the institution’s purposes. Any local government making a grant or loan may restrict the use of the grant or loan to a specific project<\/span>, within or outside such locality. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

G.<\/span> Notwithstanding any other provision of this chapter, no covered institution<\/span> shall take action with regard to any real or personal property if such action would be deemed to be in violation of any requirement or covenant contained in any outstanding bonds<\/span>, notes, or other obligations<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCOVERED INSTITUTIONS; OPERATIONAL AUTHORITY; PROPERTY, GRANTS, AND LOANS (\u00a7\n23.1-1019)\n\nA. Nothing in this section shall limit or reduce the authority granted to a\ncovered institution in §§ 23.1-1016 and 23.1-1028 concerning the\nplanning, design, construction, and implementation of capital projects and\nleases.\n\nB. Each covered institution may continue to hold, possess, operate, and dispose\nof any real, personal, tangible, or intangible property that such covered\ninstitution held, possessed, or operated prior to the effective date of its\ninitial management agreement as follows:\n\n 1. For real property, including land, buildings, and any improvements to land\n or buildings, acquired or constructed in whole or in part with general fund\n appropriations or proceeds from a general obligation bond issue under Article\n X, Section 9 (a) or 9 (b) of the Constitution of Virginia, the covered\n institution shall (i) hold, possess, and operate such property in accordance\n with the institution’s enabling statutes, this article, and any policies\n adopted by the governing board of the institution pursuant to this article and\n (ii) dispose of such property in accordance with general law applicable to\n state-owned property and the institution’s enabling statutes.\n\n 2. For real property, including land, buildings, and any improvements to land\n or buildings, acquired or constructed either (i) entirely with nongeneral fund\n appropriations or proceeds from a nongeneral fund revenue bond issue under\n Article X, Section 9 (c) or 9 (d) of the Constitution of Virginia or (ii)\n entirely with funds other than funds appropriated by the General Assembly or\n proceeds from a general obligation bond issue under Article X, Section 9 (a)\n or 9 (b) of the Constitution of Virginia, the covered institution shall hold,\n possess, operate, and dispose of such property in accordance with the\n institution’s enabling statutes, notwithstanding the provisions of this\n article, the approval requirements of subdivision B 1 of § 23.1-1301, and\n any policies adopted by the governing board of the institution pursuant to\n this article.\n\n 3. For personal property, the covered institution shall hold, possess,\n operate, and dispose of such property in accordance with the\n institution’s enabling statutes, this article, and any policies adopted\n by the governing board of the institution pursuant to this article.\n\nC. After the effective date of the initial management agreement, a covered\ninstitution may acquire any real property, construct improvements on real\nproperty pursuant to \u00a7 23.1-1016, and acquire any personal property, tangible\nor intangible, and hold, possess, operate, and dispose of such real and personal\nproperty as follows:\n\n 1. For real property, including land, buildings, and improvements to land and\n buildings, acquired or constructed with funds appropriated by the General\n Assembly for that purpose or with proceeds from a general obligation bond\n issue under Article X, Section 9 (a) or 9 (b) of the Constitution of Virginia,\n the covered institution shall (i) hold, possess, and operate such property in\n accordance with the institution’s enabling statutes, this article, and\n any policies adopted by the governing board of the institution pursuant to\n this article, and (ii) dispose of such property in accordance with general law\n applicable to state-owned property and with the covered institution’s\n enabling statutes.\n\n 2. For real property, including land, buildings, and improvements to land or\n buildings, acquired with any funds in the covered institution’s\n possession other than funds appropriated by the General Assembly or proceeds\n from a general obligation bond issue under Article X, Section 9 (a) or 9 (b)\n of the Constitution of Virginia, the institution shall hold, possess, operate,\n dispose of, and otherwise deal with such property, or any right, easement,\n estate, or interest in such property, acquired by purchase, exchange, gift,\n assignment, transfer, foreclosure, lease, bequest, devise, operation of law,\n or other means, in accordance with the covered institution’s enabling\n statutes, notwithstanding the provisions of this article, the approval\n requirements of subdivision B 1 of § 23.1-1301, and any policies adopted\n by the governing board of the institution pursuant to this article.\n\n 3. For personal property, the institution shall hold, possess, operate, and\n dispose of such property in accordance with the institution’s enabling\n statutes, this article, and any policies adopted by the governing board of the\n institution pursuant to this article.\n\nD. With the approval of the Governor or as otherwise provided by law, and\nconsistent with subsections B and C, a covered institution may (i) sell, assign,\nencumber, mortgage, demolish, or otherwise dispose of any project, any other\nreal, personal, tangible, or intangible property, any right, easement, estate,\nor interest in any such project or property, or any deed of trust or mortgage\nlien interest owned by it, under its control or custody or in its possession,\nand may release or relinquish any right, title, claim, lien, interest, easement,\nor demand however acquired, including any equity or right of redemption in\nproperty foreclosed by it, and (ii) do any of the foregoing by public or private\ntransaction.\n\nE. A covered institution may accept loans, grants, contributions, or other\nassistance from the federal government, the Commonwealth, any political\nsubdivision of the Commonwealth, or any other public or private source to carry\nout its mission as a public institution of higher education and any of the\npurposes of this article. A covered institution may enter into any agreement or\ncontract regarding the acceptance, use, or repayment of any such loan, grant,\ncontribution, or assistance and may enter into other agreements with any such\nentity in furtherance of the purposes of this article.\n\nF. Localities may lend or donate money or other property to a covered\ninstitution for any of the institution’s purposes. Any local government\nmaking a grant or loan may restrict the use of the grant or loan to a specific\nproject, within or outside such locality.\n\nG. Notwithstanding any other provision of this chapter, no covered institution\nshall take action with regard to any real or personal property if such action\nwould be deemed to be in violation of any requirement or covenant contained in\nany outstanding bonds, notes, or other obligations.\n\nHISTORY: 2005, cc. 933, 945, \u00a7 23-38.112; 2016, c. 588.","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}}