Code of Virginia

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Code of Virginia
Title 23.1. Institutions of Higher Education; Other Educational and Cultural Institutions
Chapter 32. Museums and Other Cultural Institutions
7/30/2021

§ 23.1-3226. Powers of the Foundation.

The Foundation may:

1. Make expenditures from the Fund's interest and income to assist (i) the Virginia Commission for the Arts in promoting the arts in the Commonwealth in accordance with § 23.1-3228 and (ii) nonprofit arts and cultural institutions and organizations in the Commonwealth to assess, enhance, and plan for enhancement of their fiscal stability, financial management and control capabilities, and capacity to raise funds for the furtherance of their respective missions from nongovernmental sources;

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

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

4. Explore and make recommendations concerning other possible dedicated revenue sources for the Fund; and

5. Perform any lawful acts necessary or appropriate to carry out the purposes of the Foundation.

2016, c. 588.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.