                                 CODE OF VIRGINIA

ENDOWMENT FUNDS OF PUBLIC INSTITUTIONS OF HIGHER EDUCATION (§ 23.1-101)

It is the public policy of the Commonwealth that:

1. Each public institution of higher education, the Frontier Culture Museum of
Virginia, Gunston Hall, the Jamestown-Yorktown Foundation, the Science Museum of
Virginia, and the Virginia Museum of Fine Arts shall be encouraged in their
attempts to increase their endowment funds and unrestricted gifts from private
sources and reduce the hesitation of prospective donors to make contributions
and unrestricted gifts; and

2. Consistent with &#xA7; 10 of Chapter 33 of the Acts of Assembly of 1927, in
measuring the extent to which the Commonwealth shall finance higher education in
the Commonwealth, the availability of the endowment funds and unrestricted gifts
from private sources received by public institutions of higher education, the
Frontier Culture Museum of Virginia, Gunston Hall, the Jamestown-Yorktown
Foundation, the Science Museum of Virginia, and the Virginia Museum of Fine Arts
shall neither be taken into consideration in nor used to reduce state
appropriations or payments and shall be used in accordance with the wishes of
the donors of such funds to strengthen the services rendered by these
institutions to the people of the Commonwealth.

HISTORY: Code 1950, § 9-65.14, § 23-252; 1952, c. 707, § 23-9.2; 1956, c.
390; 1970, c. 466; 1972, c. 524; 1974, c. 124; 1977, c. 597; 1981, c. 505; 1997,
c. 367, § 23-253.7; 1998, cc. 589, 786, § 23-287; 2000, cc. 104, 125; 2003, c.
879; 2004, c. 650; 2005, c. 758; 2013, c. 480; 2016, c. 588.