                                 CODE OF VIRGINIA

GIFTS, DEVISES AND BEQUESTS (§ 10.1-217)

Gifts, devises or bequests, whether personal or real property, and the income
derived therefrom, accepted by the Director, shall be deemed as gifts to the
Commonwealth, which shall be exempt from all state and local taxes, and shall be
regarded as the property of the Commonwealth for the purposes of all tax laws.

HISTORY: 1989, c. 553.