Code of Virginia § 2.2-2716. Authority of board of trustees.

210 words·~1 min read·/va/title-2-2/chapter-27/2-2-2716

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

The board of trustees has the authority to:

1. Administer the Veterans Services Fund, request appropriations, and make allocations of revenue from the Fund to the Department of Veterans Services to provide supplemental funding for the Department's services and programs;

2. Accept, hold, and administer gifts and bequests of money, securities, or other property, absolutely or in trust, for the purposes for which the Foundation is created;

3. Enter into contracts and execute all instruments necessary and appropriate to carry out the Foundation's purposes;

4. Take such actions as may be reasonably necessary to seek, promote, and stimulate contributions for the Fund;

5. Develop other possible dedicated revenue sources for the Fund;

6. Perform any lawful acts necessary or appropriate to carry out the purposes of the Foundation; and

7. Develop policies and procedures applicable to the management and functioning of the Foundation and the Department of Veterans Services relating to

(i)administration of the Fund,

(ii)provision of funding for veterans services and programs through the Fund, and

(iii)acceptance and fundraising to strengthen the structure of the Fund.

2003, cc. 657 , 670 ; 2008, cc. 467 , 486 , 768 , 872 ; 2011, c. 795 ; 2017, cc. 505 , 622 ; 2020, c. 1128 .