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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>68877</law_id><section_number>23.1-2638</section_number><catch_line>Institutions receiving interest accruing on proceeds of land scrip</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>23.1-2642</reference><reference>23.1-2705</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="26">Virginia Polytechnic Institute and State University</unit><unit label="article" level="4" order_by="1" identifier="6">Governmental Aid and Individual Donations</unit></structure><text>
						<section><p>The annual accruing interest from the education fund resulting from the donation of lands by act of Congress on July 2, 1862, and the sale of such lands and the investment of the proceeds from such sale in state <span class="dictionary">bonds</span> by the Board of Education on February 7 and March 19, 1872, shall be paid one-third to Virginia State University and two-thirds to the University.</p></section></text><history>Code 1919, &#xA7; 853, &#xA7; 23-136; 1920, p. 492; 1979, c. 147; 2016, c. 588.</history><metadata></metadata></law>
