Code of Virginia

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Code of Virginia
Title 58.1. Taxation
Chapter 36. Tax Exempt Property

§ 58.1-3618. College alumni associations and foundations.

Incorporated alumni associations operated exclusively on a nonprofit basis for the benefit of colleges or other institutions of learning located in Virginia, and incorporated charitable foundations conducted not for profit, the total income from which is used exclusively for literary, scientific or educational purposes, are hereby classified as charitable and cultural organizations.

Code 1950, § 58-12.25; 1974, c. 469; 1984, c. 675.

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.