                                 CODE OF VIRGINIA

DISPOSITION OF DONATIONS (§ 23.1-2216)

Donations made pursuant to § 23.1-2214 are irrevocable by the donor or his
representatives, but if the board gives notice in writing to the State Treasurer
within one year of being notified of the donation by the Treasurer that it
declines to receive the benefit of such deposit, the deposit and any interest
and profits that may have accrued shall be held subject to the order of such
donor or his legal representatives. If at any time the object of such donation
or deposit fails by the legal destruction of the University or by any other
means so that the purpose of the gift, bequest, or devise is permanently
frustrated, the whole fund, including unexpended principal and interest, shall
revert to and be vested in the donor or his legal representatives.

HISTORY: Code 1919, § 824, § 23-83; 2016, c. 588.