Virginia Statutes
§ 23.1-1111 — Bonds; prohibition against obligating Commonwealth
Virginia § 23.1-1111
JurisdictionVirginia
Title 23.1INSTITUTIONS OF HIGHER EDUCATION; OTHER EDUCATIONAL AND CULTURAL INSTITUTIONS
Subtitle IIIMANAGEMENT AND FINANCING
Ch. 11BONDS AND OTHER OBLIGATIONS
This text of Virginia § 23.1-1111 (Bonds; prohibition against obligating Commonwealth) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Va. Code Ann. § 23.1-1111 (2026).
Text
The bonds and other obligations of an institution are not a debt of the Commonwealth, do not create or constitute any indebtedness or obligation of the Commonwealth, legal, moral, or otherwise, and are not payable out of any funds other than those of the institution. Nothing in this chapter shall be construed to authorize any institution to incur any indebtedness on behalf of the Commonwealth or in any way to obligate the Commonwealth.
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Legislative History
1933, p. 91, § 23-24; 2016, c. 588.
Nearby Sections
15
§ 23.1-100
Definitions§ 23.1-1000
Definitions§ 23.1-1001
Financial and administrative management standards for public institutions of higher education§ 23.1-1003
Memoranda of understanding§ 23.1-1005
Approval of a management agreement§ 23.1-1006
Management agreement; contents and scope§ 23.1-1007
Management agreement; duration and oversightCite This Page — Counsel Stack
Bluebook (online)
Virginia § 23.1-1111, Counsel Stack Legal Research, https://law.counselstack.com/statute/va/23.1/23.1-1111.