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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>70929</law_id><section_number>23.1-2407</section_number><catch_line>Public purpose</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>23.1-2404</reference></referred_to_by><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="IV">Public Institutions of Higher Education</unit><unit label="chapter" level="3" order_by="1" identifier="24">Virginia Commonwealth University Health System Authority</unit></structure><text>
						<section><p>The exercise of the powers granted by this chapter is in all respects for the benefit of the inhabitants of the Commonwealth and the promotion of their safety, health, welfare, knowledge, convenience, and prosperity. No part of the <span class="dictionary">assets</span> or net earnings of the <span class="dictionary">Authority</span> shall inure to the benefit of or be distributable to any private individual, except that reasonable compensation may be paid for services rendered to or for the <span class="dictionary">Authority</span> affecting one or more of its purposes, and benefits may be conferred that are in conformity with its purposes. No private individual is entitled to share in the distribution of any of the corporate <span class="dictionary">assets</span> upon dissolution of the <span class="dictionary">Authority</span>.</p></section></text><history>1996, cc. 905, 1046, &#xA7; 23-50.16:15; 2016, c. 588.</history><metadata></metadata></law>
