{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/23.1-1201.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/23.1-1201.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/23.1-1201.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/23.1-1201.html"}],"law_id":72257,"edition_id":1,"section_id":72257,"structure_id":15508,"section_number":"23.1-1201","catch_line":"Virginia College Building Authority established","history":"1964, c. 607, \u00a7 23-30.25; 1966, c. 685; 1980, c. 728; 1986, c. 597; 2011, cc. 691, 714; 2016, c. 588; 2025, c. 144.","full_text":"A\n\nThe Virginia College Building Authority is established as a public body corporate and a political subdivision, agency, and instrumentality of the Commonwealth. The Authority is vested with the powers, rights, and duties conferred in this chapter.B\n\nThe Authority shall consist of the State Treasurer, the State Comptroller, the Director of the Department of Planning and Budget, and the Executive Director of the Council, all of whom shall serve ex officio, and seven additional members appointed by the Governor, subject to confirmation by the General Assembly. Each member shall serve at the pleasure of the Governor. Appointed members shall serve for a term of four years. Ex officio members shall serve terms coincident with their terms of office. Vacancies occurring other than by expiration of a term shall be filled for the unexpired term. No appointed member shall serve more than two consecutive terms.C\n\nThe Governor shall appoint one member as chairman who shall serve a two-year term. No member is eligible to serve more than two consecutive terms as chairman. The chairman shall be the chief executive officer of the Authority and shall receive such compensation as the Governor determines. No ex officio member is eligible to serve as chairman.D\n\nThe Authority shall elect one appointed member as vice-chairman, who shall exercise the powers of the chairman in the absence of the chairman.E\n\nThe Authority shall elect a treasurer, a secretary, and an assistant secretary to perform the duties and functions commonly performed by such officers. All such officers, except the secretary and the assistant secretary, shall be selected from members of the Authority. The secretary and the assistant secretary may receive such compensation as the Authority provides.F\n\nEach appointed member of the Authority and the secretary and the assistant secretary shall execute a surety bond in such penal sum as shall be determined by the Attorney General to be (i) conditioned upon the faithful performance of the duties of his office, (ii) executed by a surety company authorized to transact business in the Commonwealth as surety, (iii) approved by the Attorney General, and (iv) filed in the office of the Secretary of the Commonwealth.G\n\nSix members of the Authority shall constitute a quorum for the transaction of all business of the Authority.","order_by":null,"text":{"0":{"id":260284,"text":"The Virginia College Building Authority is established as a public body corporate and a political subdivision, agency, and instrumentality of the Commonwealth. The Authority is vested with the powers, rights, and duties conferred in this chapter.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":260285,"text":"The Authority shall consist of the State Treasurer, the State Comptroller, the Director of the Department of Planning and Budget, and the Executive Director of the Council, all of whom shall serve ex officio, and seven additional members appointed by the Governor, subject to confirmation by the General Assembly. Each member shall serve at the pleasure of the Governor. Appointed members shall serve for a term of four years. Ex officio members shall serve terms coincident with their terms of office. Vacancies occurring other than by expiration of a term shall be filled for the unexpired term. No appointed member shall serve more than two consecutive terms.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":260286,"text":"The Governor shall appoint one member as chairman who shall serve a two-year term. No member is eligible to serve more than two consecutive terms as chairman. The chairman shall be the chief executive officer of the Authority and shall receive such compensation as the Governor determines. No ex officio member is eligible to serve as chairman.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":260287,"text":"The Authority shall elect one appointed member as vice-chairman, who shall exercise the powers of the chairman in the absence of the chairman.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"4":{"id":260288,"text":"The Authority shall elect a treasurer, a secretary, and an assistant secretary to perform the duties and functions commonly performed by such officers. All such officers, except the secretary and the assistant secretary, shall be selected from members of the Authority. The secretary and the assistant secretary may receive such compensation as the Authority provides.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"5":{"id":260289,"text":"Each appointed member of the Authority and the secretary and the assistant secretary shall execute a surety bond in such penal sum as shall be determined by the Attorney General to be (i) conditioned upon the faithful performance of the duties of his office, (ii) executed by a surety company authorized to transact business in the Commonwealth as surety, (iii) approved by the Attorney General, and (iv) filed in the office of the Secretary of the Commonwealth.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E","next_prefix":"G"},"6":{"id":260290,"text":"Six members of the Authority shall constitute a quorum for the transaction of all business of the Authority.","type":"section","prefixes":["G"],"prefix":"G","entire_prefix":"G","prefix_anchor":"G","level":1,"prior_prefix":"F"}},"ancestry":[{"id":15508,"edition_id":1,"name":"General Provisions; Powers and Duties","identifier":"1","label":"article","depth":4,"order_by":1,"parent_id":14345,"metadata":{},"date_created":"2026-06-26 03:55:39","date_modified":"2026-06-26 03:55:39","permalink":{"id":185737,"object_type":"structure","relational_id":15508,"identifier":"1","token":"23.1\/III\/12\/1","url":"\/23.1\/III\/12\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":14345,"edition_id":1,"name":"Virginia College Building Authority","identifier":"12","label":"chapter","depth":3,"order_by":1,"parent_id":14060,"metadata":{},"date_created":"2026-06-26 03:47:49","date_modified":"2026-06-26 03:47:49","permalink":{"id":185735,"object_type":"structure","relational_id":14345,"identifier":"12","token":"23.1\/III\/12","url":"\/23.1\/III\/12\/","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":84904,"structure_id":15508,"section_number":"23.1-1200","catch_line":"Definitions; findings","url":"\/23.1-1200\/","token":"23.1\/III\/12\/1\/23.1-1200","metadata":false},{"id":72257,"structure_id":15508,"section_number":"23.1-1201","catch_line":"Virginia College Building Authority established","url":"\/23.1-1201\/","token":"23.1\/III\/12\/1\/23.1-1201","metadata":false},{"id":83905,"structure_id":15508,"section_number":"23.1-1202","catch_line":"Action by Authority may be authorized by resolution","url":"\/23.1-1202\/","token":"23.1\/III\/12\/1\/23.1-1202","metadata":false},{"id":77677,"structure_id":15508,"section_number":"23.1-1203","catch_line":"Powers of Authority generally","url":"\/23.1-1203\/","token":"23.1\/III\/12\/1\/23.1-1203","metadata":false},{"id":86522,"structure_id":15508,"section_number":"23.1-1204","catch_line":"Duties; administration of assets, moneys, or obligations","url":"\/23.1-1204\/","token":"23.1\/III\/12\/1\/23.1-1204","metadata":false},{"id":73472,"structure_id":15508,"section_number":"23.1-1205","catch_line":"Powers; purchase or sale of bonds or other obligations of eligible institutions","url":"\/23.1-1205\/","token":"23.1\/III\/12\/1\/23.1-1205","metadata":false},{"id":71767,"structure_id":15508,"section_number":"23.1-1206","catch_line":"Powers; acquisition or disposition of equipment","url":"\/23.1-1206\/","token":"23.1\/III\/12\/1\/23.1-1206","metadata":false},{"id":71770,"structure_id":15508,"section_number":"23.1-1207","catch_line":"Powers; bonds of Authority generally","url":"\/23.1-1207\/","token":"23.1\/III\/12\/1\/23.1-1207","metadata":false},{"id":67521,"structure_id":15508,"section_number":"23.1-1208","catch_line":"Security for bonds","url":"\/23.1-1208\/","token":"23.1\/III\/12\/1\/23.1-1208","metadata":false},{"id":69367,"structure_id":15508,"section_number":"23.1-1209","catch_line":"Reserve fund; limitations","url":"\/23.1-1209\/","token":"23.1\/III\/12\/1\/23.1-1209","metadata":false},{"id":80005,"structure_id":15508,"section_number":"23.1-1210","catch_line":"Payment on bonds; pledge of revenues","url":"\/23.1-1210\/","token":"23.1\/III\/12\/1\/23.1-1210","metadata":false},{"id":83226,"structure_id":15508,"section_number":"23.1-1211","catch_line":"Default on payments","url":"\/23.1-1211\/","token":"23.1\/III\/12\/1\/23.1-1211","metadata":false},{"id":81001,"structure_id":15508,"section_number":"23.1-1212","catch_line":"Investment of funds","url":"\/23.1-1212\/","token":"23.1\/III\/12\/1\/23.1-1212","metadata":false},{"id":80486,"structure_id":15508,"section_number":"23.1-1213","catch_line":"Enforcement of rights and duties by bondholder or trustee under trust indenture","url":"\/23.1-1213\/","token":"23.1\/III\/12\/1\/23.1-1213","metadata":false},{"id":67372,"structure_id":15508,"section_number":"23.1-1214","catch_line":"Exemption of bonds from taxation","url":"\/23.1-1214\/","token":"23.1\/III\/12\/1\/23.1-1214","metadata":false},{"id":86127,"structure_id":15508,"section_number":"23.1-1215","catch_line":"Bonds made lawful investments","url":"\/23.1-1215\/","token":"23.1\/III\/12\/1\/23.1-1215","metadata":false},{"id":86824,"structure_id":15508,"section_number":"23.1-1216","catch_line":"Annual report; examination of records, books, and accounts","url":"\/23.1-1216\/","token":"23.1\/III\/12\/1\/23.1-1216","metadata":false},{"id":69836,"structure_id":15508,"section_number":"23.1-1217","catch_line":"Annual audit","url":"\/23.1-1217\/","token":"23.1\/III\/12\/1\/23.1-1217","metadata":false},{"id":83690,"structure_id":15508,"section_number":"23.1-1218","catch_line":"Article liberally construed; powers of Authority not subject to supervision by certain entities","url":"\/23.1-1218\/","token":"23.1\/III\/12\/1\/23.1-1218","metadata":false},{"id":59107,"structure_id":15508,"section_number":"23.1-1219","catch_line":"Jurisdiction of suits against Authority; service of process","url":"\/23.1-1219\/","token":"23.1\/III\/12\/1\/23.1-1219","metadata":false}],"previous_section":{"id":84904,"structure_id":15508,"section_number":"23.1-1200","catch_line":"Definitions; findings","url":"\/23.1-1200\/","token":"23.1\/III\/12\/1\/23.1-1200","metadata":false},"next_section":{"id":83905,"structure_id":15508,"section_number":"23.1-1202","catch_line":"Action by Authority may be authorized by resolution","url":"\/23.1-1202\/","token":"23.1\/III\/12\/1\/23.1-1202","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/23.1-1201\/","history_text":"

This law was first created in 1964. The record of its establishment is cataloged in chapter 607 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. Unfortunately, the 1964 \u201cActs\u201d aren\u2019t available online. It has been modified 6 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 1966, chapter 685; in 1980, chapter 728; in 1986, chapter 597; in 2011, chapters 691<\/a> and 714<\/a>; in 2016, chapter 588<\/a>; in 2025, chapter 144<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":185743,"object_type":"law","relational_id":72257,"identifier":"23.1-1201","token":"23.1\/III\/12\/1\/23.1-1201","url":"\/23.1-1201\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/23.1-1201\/","token":"23.1\/III\/12\/1\/23.1-1201","dublin_core":{"Title":"Virginia College Building Authority established","Type":"Text","Format":"text\/html","Identifier":"\u00a7 23.1-1201","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The Virginia College Building Authority is established as a public body corporate and a political subdivision, agency, and instrumentality of the Commonwealth. The Authority is vested with the powers, rights, and duties conferred in this chapter. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The Authority shall consist of the State Treasurer, the State Comptroller, the Director of the Department of Planning and Budget, and the Executive Director of the Council<\/span>, all of whom shall serve ex officio, and seven additional members appointed by the Governor, subject to confirmation by the General Assembly. Each member shall serve at the pleasure of the Governor. Appointed members shall serve for a term of four years. Ex officio members shall serve terms coincident with their terms of office. Vacancies occurring other than by expiration of a term shall be filled for the unexpired term. No appointed member shall serve more than two consecutive terms. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The Governor shall appoint one member as chairman who shall serve a two-year term. No member is eligible to serve more than two consecutive terms as chairman. The chairman shall be the chief executive officer<\/span> of the Authority and shall receive such compensation as the Governor determines. No ex officio member is eligible to serve as chairman. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> The Authority shall elect one appointed member as vice-chairman, who shall exercise the powers of the chairman in the absence of the chairman. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> The Authority shall elect a treasurer, a secretary, and an assistant secretary to perform the duties and functions commonly performed by such officers. All such officers, except the secretary and the assistant secretary, shall be selected from members of the Authority. The secretary and the assistant secretary may receive such compensation as the Authority provides. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> Each appointed member of the Authority and the secretary and the assistant secretary shall execute a surety<\/span> bond<\/span> in such penal sum as shall be determined by the Attorney General<\/span> to be (i) conditioned upon the faithful performance of the duties of his office, (ii) executed by a surety<\/span> company authorized to transact business in the Commonwealth as surety<\/span>, (iii) approved by the Attorney General<\/span>, and (iv) filed in the office of the Secretary of the Commonwealth. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

G.<\/span> Six members of the Authority shall constitute a quorum for the transaction of all business of the Authority. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nVIRGINIA COLLEGE BUILDING AUTHORITY ESTABLISHED (\u00a7 23.1-1201)\n\nA. The Virginia College Building Authority is established as a public body\ncorporate and a political subdivision, agency, and instrumentality of the\nCommonwealth. The Authority is vested with the powers, rights, and duties\nconferred in this chapter.\n\nB. The Authority shall consist of the State Treasurer, the State Comptroller,\nthe Director of the Department of Planning and Budget, and the Executive\nDirector of the Council, all of whom shall serve ex officio, and seven\nadditional members appointed by the Governor, subject to confirmation by the\nGeneral Assembly. Each member shall serve at the pleasure of the Governor.\nAppointed members shall serve for a term of four years. Ex officio members shall\nserve terms coincident with their terms of office. Vacancies occurring other\nthan by expiration of a term shall be filled for the unexpired term. No\nappointed member shall serve more than two consecutive terms.\n\nC. The Governor shall appoint one member as chairman who shall serve a two-year\nterm. No member is eligible to serve more than two consecutive terms as\nchairman. The chairman shall be the chief executive officer of the Authority and\nshall receive such compensation as the Governor determines. No ex officio member\nis eligible to serve as chairman.\n\nD. The Authority shall elect one appointed member as vice-chairman, who shall\nexercise the powers of the chairman in the absence of the chairman.\n\nE. The Authority shall elect a treasurer, a secretary, and an assistant\nsecretary to perform the duties and functions commonly performed by such\nofficers. All such officers, except the secretary and the assistant secretary,\nshall be selected from members of the Authority. The secretary and the assistant\nsecretary may receive such compensation as the Authority provides.\n\nF. Each appointed member of the Authority and the secretary and the assistant\nsecretary shall execute a surety bond in such penal sum as shall be determined\nby the Attorney General to be (i) conditioned upon the faithful performance of\nthe duties of his office, (ii) executed by a surety company authorized to\ntransact business in the Commonwealth as surety, (iii) approved by the Attorney\nGeneral, and (iv) filed in the office of the Secretary of the Commonwealth.\n\nG. Six members of the Authority shall constitute a quorum for the transaction of\nall business of the Authority.\n\nHISTORY: 1964, c. 607, \u00a7 23-30.25; 1966, c. 685; 1980, c. 728; 1986, c. 597;\n2011, cc. 691, 714; 2016, c. 588; 2025, c. 144.","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}}