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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>70745</law_id><section_number>23.1-1113</section_number><catch_line>Bonds; surplus to be paid into state treasury</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="23.1">Institutions of Higher Education; Other Educational and Cultural Institutions</unit><unit label="subtitle" level="2" order_by="1" identifier="III">Management and Financing</unit><unit label="chapter" level="3" order_by="1" identifier="11">Bonds and Other Obligations</unit></structure><text>
						<section><p>When any <span class="dictionary">institution</span> fully meets and discharges its <span class="dictionary">bonds</span>, interest thereon, interest on any unpaid installments of interest on its <span class="dictionary">bonds</span>, and all costs and expenses in connection with any action or proceedings by or on behalf of the bondholders and pays in full or otherwise discharges all of its liabilities incurred pursuant to this chapter, such <span class="dictionary">institution</span> shall pay into the state treasury all such sums of money it receives pursuant to the provisions of this chapter or that are derived from any <span class="dictionary">project</span> erected pursuant to this chapter as may be in its <span class="dictionary">possession</span> or control.</p></section></text><history>1933, p. 91, &#xA7; 23-28; 2016, c. 588.</history><metadata></metadata></law>
