State Codes and Statutes
Statutes > Virginia > Title-23 > Chapter-5-2 > 23-49-21§ 23-49.21. Lease or sale of real estate.
The rector and visitors of Old Dominion University, with the approval of theGovernor first obtained, are hereby authorized to lease, sell and convey anyand all real estate to which it has acquired title by gift, devise orpurchase since the commencement of the University under any previous name ornames, or which may hereafter be conveyed or devised to it. The proceedsderived from any such lease, sale or sales shall be held by said rector andvisitors of Old Dominion University upon the identical trusts, and subject tothe same uses, limitations and conditions, if any, that are expressed in theoriginal deed or will under which its title was derived, or if there be nosuch trusts, uses, limitations or conditions expressed in such original deedor will, then said funds shall be applied by the rector and visitors of theUniversity to such purposes as said board may deem best for the University.
(1966, c. 18; 1968, c. 545; 1974, c. 317.)
