Code of Virginia § 13.1-901. Sale of certain real property by incorporated educational institutions.

121 words·~1 min read·/va/title-13-1/chapter-10/13-1-901

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

In all cases where an incorporated educational institution, or its board of directors, or trustees, for its benefit, owns or holds more than 1,000 acres of land in one or more tracts outside of a city or incorporated town, such board of trustees or directors may, notwithstanding any provision in its charter, or in the deed, will or muniment of title under which such real estate is held, by a majority vote of all of the members of such board, sell and convey all of such real estate in excess of 1,000 acres, the portion to be sold to embrace both land and buildings as may be determined by the board.

Code 1950, § 13.1-246.1; 1973, c. 476; 1985, c. 522.