                                 CODE OF VIRGINIA

INSTITUTIONS; POWERS GENERALLY (§ 23.1-1103)

Any institution may, in its proper corporate name and style:

1. Sue and be sued (i) on any bond, agreement, or other contractual or
quasi-contractual obligation issued, made, or incurred pursuant to this chapter;
(ii) on any duty, debt, evidence of debt, term, provision, condition, or
covenant relating to any bond, agreement, or other contractual or
quasi-contractual obligation issued, made, or incurred pursuant to this chapter;
(iii) for the enforcement of any bond, agreement, or other contractual or
quasi-contractual obligations issued, made, or incurred pursuant to this
chapter; or (iv) for the enforcement of any contract or agreement with or
liability to any federal agency or bondholder or any trustee or representative
of such bondholder.

2. Adopt and alter a common seal.

3. Acquire and hold real or personal property or interests in such property in
its own name.

4. Execute any instrument that it deems necessary or convenient to carry out the
purposes of this chapter.

5. With the consent of the Governor, issue bonds and provide for and secure the
rights of the bondholders.

6. Perform any act authorized by this chapter through its own officers, agents,
or employees, or by contracts with private corporations, firms, or individuals.

7. Perform any act that it deems necessary or convenient to carry out the powers
and purposes expressly provided in this chapter.

HISTORY: 1933, p. 84, § 23-16; 2016, c. 588.