{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/23.1-2309.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/23.1-2309.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/23.1-2309.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/23.1-2309.html"}],"law_id":74493,"edition_id":1,"section_id":74493,"structure_id":16032,"section_number":"23.1-2309","catch_line":"Operations of Medical Center","history":"1994, c. 621, \u00a7 23-50.16; 2016, c. 588.","full_text":"A\n\nThe University may provide medical and health sciences education and related research through teaching hospitals and related health care and health maintenance facilities, collectively referred to in this section as the Medical Center. The Medical Center may participate in cooperative arrangements reflective of changes in health care delivery.B\n\nThe University may create, own in whole or in part, or otherwise control corporations, partnerships, insurers, or other entities whose activities promote the operations of the Medical Center and its mission; cooperate or enter into joint ventures with such entities; and enter into contracts in connection with such joint ventures. Without limiting the power of the University to issue bonds, notes, guarantees, or other evidence of indebtedness pursuant to subsection C in connection with such activities, no such creation, ownership, or control shall create any responsibility of the University, the Commonwealth, or any agency of the Commonwealth for the operations or obligations of any entity or in any way make the University, the Commonwealth, or any agency of the Commonwealth responsible for the payment of debt or other obligations of such entity. All such interests shall be reflected on the financial statements of the Medical Center.C\n\nNotwithstanding the provisions of Chapter 11 (\u00a7 23.1-1100 et seq.), the University may issue bonds, notes, guarantees, or other evidence of indebtedness without the approval of any other governmental body subject to the following provisions:1\n\nSuch debt is used solely for the purpose of paying not more than 50 percent of the cost of capital improvements in connection with the operation of the Medical Center or related issuance costs, reserve funds, and other financing expenses, including interest during construction or acquisition and for up to one year thereafter.2\n\nNo revenues of the University are pledged to the payment of such debt except those revenues derived from the operation of the Medical Center and related health care and educational activities, and no general fund appropriation and special Medicaid disproportionate share payments for indigent and medically indigent patients who are not eligible for the Virginia Medicaid Program are pledged to the payment of such debt.3\n\nSuch debt states that it does not constitute a debt of the Commonwealth or a pledge of the faith and credit of the Commonwealth.4\n\nSuch debt is not sold to the public.5\n\nThe total principal amount of such debt outstanding at any one time does not exceed $25 million.6\n\nThe Treasury Board approves the terms and structure of such debt.7\n\nThe purpose, terms, and structure of such debt are promptly communicated to the Governor and the Chairmen of the House Appropriations and Senate Finance Committees.8\n\nAll such indebtedness is reflected on the financial statements of the Medical Center.D\n\nSubject to meeting the conditions set forth in subsection C, such debt may be in such form and have such terms as the board may provide and shall be in all respects debt of the University for the purposes of §§ 23.1-1110, 23.1-1115, and 23.1-1116.","order_by":null,"text":{"0":{"id":267706,"text":"The University may provide medical and health sciences education and related research through teaching hospitals and related health care and health maintenance facilities, collectively referred to in this section as the Medical Center. The Medical Center may participate in cooperative arrangements reflective of changes in health care delivery.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":267707,"text":"The University may create, own in whole or in part, or otherwise control corporations, partnerships, insurers, or other entities whose activities promote the operations of the Medical Center and its mission; cooperate or enter into joint ventures with such entities; and enter into contracts in connection with such joint ventures. Without limiting the power of the University to issue bonds, notes, guarantees, or other evidence of indebtedness pursuant to subsection C in connection with such activities, no such creation, ownership, or control shall create any responsibility of the University, the Commonwealth, or any agency of the Commonwealth for the operations or obligations of any entity or in any way make the University, the Commonwealth, or any agency of the Commonwealth responsible for the payment of debt or other obligations of such entity. All such interests shall be reflected on the financial statements of the Medical Center.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":267708,"text":"Notwithstanding the provisions of Chapter 11 (\u00a7 23.1-1100 et seq.), the University may issue bonds, notes, guarantees, or other evidence of indebtedness without the approval of any other governmental body subject to the following provisions:","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"C1"},"3":{"id":267709,"text":"Such debt is used solely for the purpose of paying not more than 50 percent of the cost of capital improvements in connection with the operation of the Medical Center or related issuance costs, reserve funds, and other financing expenses, including interest during construction or acquisition and for up to one year thereafter.","type":"section","prefixes":["C","1"],"prefix":"1","entire_prefix":"C1","prefix_anchor":"C1","level":2,"prior_prefix":"C","next_prefix":"C2"},"4":{"id":267710,"text":"No revenues of the University are pledged to the payment of such debt except those revenues derived from the operation of the Medical Center and related health care and educational activities, and no general fund appropriation and special Medicaid disproportionate share payments for indigent and medically indigent patients who are not eligible for the Virginia Medicaid Program are pledged to the payment of such debt.","type":"section","prefixes":["C","2"],"prefix":"2","entire_prefix":"C2","prefix_anchor":"C2","level":2,"prior_prefix":"C1","next_prefix":"C3"},"5":{"id":267711,"text":"Such debt states that it does not constitute a debt of the Commonwealth or a pledge of the faith and credit of the Commonwealth.","type":"section","prefixes":["C","3"],"prefix":"3","entire_prefix":"C3","prefix_anchor":"C3","level":2,"prior_prefix":"C2","next_prefix":"C4"},"6":{"id":267712,"text":"Such debt is not sold to the public.","type":"section","prefixes":["C","4"],"prefix":"4","entire_prefix":"C4","prefix_anchor":"C4","level":2,"prior_prefix":"C3","next_prefix":"C5"},"7":{"id":267713,"text":"The total principal amount of such debt outstanding at any one time does not exceed $25 million.","type":"section","prefixes":["C","5"],"prefix":"5","entire_prefix":"C5","prefix_anchor":"C5","level":2,"prior_prefix":"C4","next_prefix":"C6"},"8":{"id":267714,"text":"The Treasury Board approves the terms and structure of such debt.","type":"section","prefixes":["C","6"],"prefix":"6","entire_prefix":"C6","prefix_anchor":"C6","level":2,"prior_prefix":"C5","next_prefix":"C7"},"9":{"id":267715,"text":"The purpose, terms, and structure of such debt are promptly communicated to the Governor and the Chairmen of the House Appropriations and Senate Finance Committees.","type":"section","prefixes":["C","7"],"prefix":"7","entire_prefix":"C7","prefix_anchor":"C7","level":2,"prior_prefix":"C6","next_prefix":"C8"},"10":{"id":267716,"text":"All such indebtedness is reflected on the financial statements of the Medical Center.","type":"section","prefixes":["C","8"],"prefix":"8","entire_prefix":"C8","prefix_anchor":"C8","level":2,"prior_prefix":"C7","next_prefix":"D"},"11":{"id":267717,"text":"Subject to meeting the conditions set forth in subsection C, such debt may be in such form and have such terms as the board may provide and shall be in all respects debt of the University for the purposes of §§ 23.1-1110, 23.1-1115, and 23.1-1116.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C8"}},"ancestry":[{"id":16032,"edition_id":1,"name":"Virginia Commonwealth University","identifier":"23","label":"chapter","depth":3,"order_by":1,"parent_id":13798,"metadata":{},"date_created":"2026-06-26 04:04:18","date_modified":"2026-06-26 04:04:18","permalink":{"id":186267,"object_type":"structure","relational_id":16032,"identifier":"23","token":"23.1\/IV\/23","url":"\/23.1\/IV\/23\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13798,"edition_id":1,"name":"Public Institutions of Higher Education","identifier":"IV","label":"subtitle","depth":2,"order_by":1,"parent_id":13111,"metadata":{},"date_created":"2026-06-26 03:45:54","date_modified":"2026-06-26 03:45:54","permalink":{"id":185925,"object_type":"structure","relational_id":13798,"identifier":"IV","token":"23.1\/IV","url":"\/23.1\/IV\/","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":69538,"structure_id":16032,"section_number":"23.1-2300","catch_line":"Corporate name; name of the University","url":"\/23.1-2300\/","token":"23.1\/IV\/23\/23.1-2300","metadata":false},{"id":68513,"structure_id":16032,"section_number":"23.1-2301","catch_line":"Purpose of board","url":"\/23.1-2301\/","token":"23.1\/IV\/23\/23.1-2301","metadata":false},{"id":78629,"structure_id":16032,"section_number":"23.1-2302","catch_line":"Property and liabilities of Medical College of Virginia and Richmond Professional Institute","url":"\/23.1-2302\/","token":"23.1\/IV\/23\/23.1-2302","metadata":false},{"id":75552,"structure_id":16032,"section_number":"23.1-2303","catch_line":"Membership","url":"\/23.1-2303\/","token":"23.1\/IV\/23\/23.1-2303","metadata":false},{"id":69615,"structure_id":16032,"section_number":"23.1-2304","catch_line":"Principal office; meetings; officers; committees","url":"\/23.1-2304\/","token":"23.1\/IV\/23\/23.1-2304","metadata":false},{"id":74969,"structure_id":16032,"section_number":"23.1-2305","catch_line":"Powers and duties","url":"\/23.1-2305\/","token":"23.1\/IV\/23\/23.1-2305","metadata":false},{"id":62823,"structure_id":16032,"section_number":"23.1-2306","catch_line":"Investment of endowment funds, endowment income, etc","url":"\/23.1-2306\/","token":"23.1\/IV\/23\/23.1-2306","metadata":false},{"id":80249,"structure_id":16032,"section_number":"23.1-2307","catch_line":"Process or notice","url":"\/23.1-2307\/","token":"23.1\/IV\/23\/23.1-2307","metadata":false},{"id":77044,"structure_id":16032,"section_number":"23.1-2308","catch_line":"The Medical College of Virginia, Health Sciences Schools of the University","url":"\/23.1-2308\/","token":"23.1\/IV\/23\/23.1-2308","metadata":false},{"id":74493,"structure_id":16032,"section_number":"23.1-2309","catch_line":"Operations of Medical Center","url":"\/23.1-2309\/","token":"23.1\/IV\/23\/23.1-2309","metadata":false},{"id":71706,"structure_id":16032,"section_number":"23.1-2310","catch_line":"Authority to create Virginia Commonwealth University School of Medicine-Northern Virginia Division","url":"\/23.1-2310\/","token":"23.1\/IV\/23\/23.1-2310","metadata":false},{"id":84127,"structure_id":16032,"section_number":"23.1-2311","catch_line":"Virginia Center on Aging","url":"\/23.1-2311\/","token":"23.1\/IV\/23\/23.1-2311","metadata":false},{"id":77236,"structure_id":16032,"section_number":"23.1-2311.1","catch_line":"Virginia Center on Aging; Virginia Memory Project","url":"\/23.1-2311.1\/","token":"23.1\/IV\/23\/23.1-2311.1","metadata":false},{"id":81588,"structure_id":16032,"section_number":"23.1-2312","catch_line":"Establishment of a branch campus in the State of Qatar","url":"\/23.1-2312\/","token":"23.1\/IV\/23\/23.1-2312","metadata":false}],"previous_section":{"id":77044,"structure_id":16032,"section_number":"23.1-2308","catch_line":"The Medical College of Virginia, Health Sciences Schools of the University","url":"\/23.1-2308\/","token":"23.1\/IV\/23\/23.1-2308","metadata":false},"next_section":{"id":71706,"structure_id":16032,"section_number":"23.1-2310","catch_line":"Authority to create Virginia Commonwealth University School of Medicine-Northern Virginia Division","url":"\/23.1-2310\/","token":"23.1\/IV\/23\/23.1-2310","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/23.1-2309\/","history_text":"

This law was first created in 1994. The record of its establishment is cataloged in chapter 621<\/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":false,"refers_to":[{"id":55320,"section_number":"23.1-1100","catch_line":"Definitions","order_by":null,"url":"\/23.1-1100\/"},{"id":79864,"section_number":"23.1-1110","catch_line":"Bonds as legal investments","order_by":null,"url":"\/23.1-1110\/"},{"id":79583,"section_number":"23.1-1115","catch_line":"Projects; exemption from taxation","order_by":null,"url":"\/23.1-1115\/"},{"id":85366,"section_number":"23.1-1116","catch_line":"Commonwealth not to limit revenues of institutions","order_by":null,"url":"\/23.1-1116\/"}],"permalink":{"id":186305,"object_type":"law","relational_id":74493,"identifier":"23.1-2309","token":"23.1\/IV\/23\/23.1-2309","url":"\/23.1-2309\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/23.1-2309\/","token":"23.1\/IV\/23\/23.1-2309","dublin_core":{"Title":"Operations of Medical Center","Type":"Text","Format":"text\/html","Identifier":"\u00a7 23.1-2309","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The University may provide medical and health sciences education and related research through teaching hospitals and related health care and health maintenance facilities, collectively referred to in this section as the Medical Center. The Medical Center may participate in cooperative arrangements reflective of changes in health care delivery. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The University may create, own in whole or in part, or otherwise control corporations, partnerships, insurers, or other entities whose activities promote the operations of the Medical Center and its mission; cooperate or enter into joint ventures with such entities; and enter into contracts<\/span> in connection with such joint ventures. Without limiting the power of the University to issue<\/span> bonds<\/span>, notes, guarantees, or other evidence<\/span> of indebtedness pursuant to subsection C in connection with such activities, no such creation, ownership, or control shall create any responsibility of the University, the Commonwealth, or any agency of the Commonwealth for the operations or obligations of any entity or in any way make the University, the Commonwealth, or any agency of the Commonwealth responsible for the payment of debt or other obligations of such entity. All such interests shall be reflected on the financial statements of the Medical Center. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Notwithstanding the provisions of Chapter 11 (\u00a7 23.1-1100<\/a> et seq.), the University may issue<\/span> bonds<\/span>, notes, guarantees, or other evidence<\/span> of indebtedness without the approval of any other governmental body subject to the following provisions: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Such debt is used solely for the purpose of paying not more than 50 percent of the cost of capital improvements in connection with the operation of the Medical Center or related issuance costs, reserve funds, and other financing expenses, including interest during construction or acquisition and for up to one year thereafter. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> No revenues of the University are pledged to the payment of such debt except those revenues derived from the operation of the Medical Center and related health care and educational activities, and no general fund appropriation and special Medicaid disproportionate share payments for indigent<\/span> and medically indigent<\/span> patients who are not eligible for the Virginia Medicaid Program are pledged to the payment of such debt. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Such debt states that it does not constitute a debt of the Commonwealth or a pledge of the faith and credit of the Commonwealth. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Such debt is not sold to the public. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> The total principal amount of such debt outstanding at any one time does not exceed $25 million. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> The Treasury Board approves the terms and structure of such debt. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> The purpose, terms, and structure of such debt are promptly communicated to the Governor and the Chairmen of the House Appropriations and Senate Finance Committees. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> All such indebtedness is reflected on the financial statements of the Medical Center. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> Subject to meeting the conditions set forth in subsection C, such debt may be in such form and have such terms as the board may provide and shall be in all respects debt of the University for the purposes of §§ 23.1-1110<\/a>, 23.1-1115<\/a>, and 23.1-1116<\/a>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nOPERATIONS OF MEDICAL CENTER (\u00a7 23.1-2309)\n\nA. The University may provide medical and health sciences education and related\nresearch through teaching hospitals and related health care and health\nmaintenance facilities, collectively referred to in this section as the Medical\nCenter. The Medical Center may participate in cooperative arrangements\nreflective of changes in health care delivery.\n\nB. The University may create, own in whole or in part, or otherwise control\ncorporations, partnerships, insurers, or other entities whose activities promote\nthe operations of the Medical Center and its mission; cooperate or enter into\njoint ventures with such entities; and enter into contracts in connection with\nsuch joint ventures. Without limiting the power of the University to issue\nbonds, notes, guarantees, or other evidence of indebtedness pursuant to\nsubsection C in connection with such activities, no such creation, ownership, or\ncontrol shall create any responsibility of the University, the Commonwealth, or\nany agency of the Commonwealth for the operations or obligations of any entity\nor in any way make the University, the Commonwealth, or any agency of the\nCommonwealth responsible for the payment of debt or other obligations of such\nentity. All such interests shall be reflected on the financial statements of the\nMedical Center.\n\nC. Notwithstanding the provisions of Chapter 11 (\u00a7 23.1-1100 et seq.), the\nUniversity may issue bonds, notes, guarantees, or other evidence of indebtedness\nwithout the approval of any other governmental body subject to the following\nprovisions:\n\n 1. Such debt is used solely for the purpose of paying not more than 50 percent\n of the cost of capital improvements in connection with the operation of the\n Medical Center or related issuance costs, reserve funds, and other financing\n expenses, including interest during construction or acquisition and for up to\n one year thereafter.\n\n 2. No revenues of the University are pledged to the payment of such debt\n except those revenues derived from the operation of the Medical Center and\n related health care and educational activities, and no general fund\n appropriation and special Medicaid disproportionate share payments for\n indigent and medically indigent patients who are not eligible for the Virginia\n Medicaid Program are pledged to the payment of such debt.\n\n 3. Such debt states that it does not constitute a debt of the Commonwealth or\n a pledge of the faith and credit of the Commonwealth.\n\n 4. Such debt is not sold to the public.\n\n 5. The total principal amount of such debt outstanding at any one time does\n not exceed $25 million.\n\n 6. The Treasury Board approves the terms and structure of such debt.\n\n 7. The purpose, terms, and structure of such debt are promptly communicated to\n the Governor and the Chairmen of the House Appropriations and Senate Finance\n Committees.\n\n 8. All such indebtedness is reflected on the financial statements of the\n Medical Center.\n\nD. Subject to meeting the conditions set forth in subsection C, such debt may be\nin such form and have such terms as the board may provide and shall be in all\nrespects debt of the University for the purposes of §§ 23.1-1110,\n23.1-1115, and 23.1-1116.\n\nHISTORY: 1994, c. 621, \u00a7 23-50.16; 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}}