§ 51.5-63 — Board to administer institutional fund

Virginia § 51.5-63

• Jurisdiction: Virginia
• Title 51.5: PERSONS WITH DISABILITIES
• Ch. 12: PERSONS WHO ARE BLIND AND VISION IMPAIRED
• Art. 2: BOARD FOR THE BLIND AND VISION IMPAIRED

Text

The Board is authorized to create and hold an institutional fund for its exclusive use and purposes into which it may deposit the proceeds of any gift, grant, bequest, allotment, or devise of any nature received from private sources. Such fund shall be subject to the Uniform Prudent Management of Institutional Funds Act (§ 64.2-1100 et seq.). The fund and the income from such fund shall not be subject to the provisions of § 2.2-1802. The availability of such fund shall not be taken into consideration in, nor used to reduce, state appropriations or payments, but such funds shall be used in accordance with the wishes of the donors thereof to strengthen the services rendered to the blind and vision impaired of this Commonwealth.

Legislative History

Code 1950, § 63-167.1; 1966, c. 259; 1968, c. 578, § 63.1-74; 1980, c. 4; 1989, c. 267; 1992, c. 755; 2002, c. 747; 2008, c. 184.