Code of Virginia

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Code of Virginia
Title 23.1. Institutions of Higher Education; Other Educational and Cultural Institutions
Chapter 23. Virginia Commonwealth University
5/28/2022

Chapter 23. Virginia Commonwealth University.

§ 23.1-2300. Corporate name; name of the University.

A. The board of visitors of Virginia Commonwealth University (the board) is a corporation under the name and style of "Virginia Commonwealth University" and has, in addition to its other powers, all the corporate powers given to corporations by the provisions of Title 13.1 except those powers that are confined to corporations created pursuant to Title 13.1. The board shall at all times be under the control of the General Assembly.

B. The institution shall be known as Virginia Commonwealth University (the University).

1968, c. 93, §§ 23-50.4, 23-50.8; 2016, c. 588.

§ 23.1-2301. Purpose of board.

The board is formed for the purpose of establishing and maintaining a university consisting of colleges, schools, and divisions offering undergraduate and graduate programs in the liberal arts and sciences and courses of study for the professions and such other courses of study as may be appropriate, and in connection with this purpose, the board may maintain and conduct hospitals, infirmaries, dispensaries, laboratories, research centers, power plants, and such other facilities as it deems proper.

1968, c. 93, § 23-50.7; 2016, c. 588.

§ 23.1-2302. Property and liabilities of Medical College of Virginia and Richmond Professional Institute.

All real estate and personal property in the name of the corporate bodies designated "Medical College of Virginia" and "Richmond Professional Institute" transferred to, known and taken as standing in the name of, and under the control of the University is the property of the Commonwealth. The University is vested with all rights, duties, contracts, and agreements and is responsible and liable for all the liabilities and obligations of its predecessor institutions.

1968, c. 93, § 23-50.5; 2016, c. 588.

§ 23.1-2303. Membership.

A. The board shall consist of 16 members appointed by the Governor.

B. Notwithstanding § 23.1-1300, members are eligible to serve for a total of two four-year terms which may be served consecutively; however, a member appointed by the Governor to serve an unexpired term is eligible to serve two additional four-year terms.

1968, c. 93, § 23-50.6; 1972, c. 51; 1981, c. 225; 2016, c. 588.

§ 23.1-2304. Principal office; meetings; officers; committees.

A. The principal office of the board shall be located, and all meetings of the board held, as far as practicable, in the City of Richmond.

B. The board shall meet at least once a year and at such other times as it determines. Notice of all meetings shall be provided to each member.

C. A majority of the members shall constitute a quorum.

D. The board shall appoint from its membership a rector, a vice-rector, a secretary, and any other officers as determined by the board. The board shall prescribe their duties and term of office and fix their compensation, if any.

E. The board shall determine the number of members of and appoint an executive committee and determine the number of members of the executive committee that shall constitute a quorum. The executive committee shall perform duties prescribed by the board.

F. Reasonable expenses incurred by members shall be paid out of the funds of the University.

1968, c. 93, § 23-50.9; 2016, c. 588.

§ 23.1-2305. Powers and duties.

A. The board shall appoint all teachers, staff members, and agents, fix their salaries, and prescribe their duties.

B. The board shall generally direct the affairs and business of the University.

C. The board may confer degrees, including honorary degrees.

D. The board may take, hold, receive, and enjoy any gift, grant, devise, or bequest to the University or its predecessors for the uses and purposes designated by the donor, or if not so designated, for the general purposes of the corporation, whether given directly or indirectly, and accept, execute, and administer any trust in which it may have an interest under the terms of the instrument creating the trust.

1968, c. 93, §§ 23-50.8, 23-50.10; 23-50.12; 2016, c. 588.

§ 23.1-2306. Investment of endowment funds, endowment income, etc.

A. As used in this section:

"Derivative" means a contract or financial instrument or a combination of contracts and financial instruments, including any contract commonly known as a "swap," that gives the University the right or obligation to deliver, receive delivery of, or make or receive payments based on changes in the price, value, yield, or other characteristic of a tangible or intangible asset or group of assets or changes in a rate, index of prices or rates, or other market indicator for an asset or group of assets.

"Financial security" means (i) any note, stock, treasury stock, bond, debenture, evidence of indebtedness, certificate of interest, collateral-trust certificate, preorganization certificate of subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, or fractional undivided interest in oil, gas, or other mineral rights; (ii) any put, call, straddle, option, or privilege on any security, certificate of deposit, or group or index of securities, including any interest therein or based on the value thereof; (iii) any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency; (iv) in general, any interest or instrument commonly known as a "security"; or (v) any certificate of interest or participation in, temporary or interim security for, receipt for, guarantee of, or warrant or right to subscribe to or purchase any financial security.

"Option" means an agreement or contract whereby the University may grant or receive the right to purchase, sell, or pay or receive the value of any personal property asset, including any agreement or contract that relates to any security, contract, or agreement.

B. The board shall invest and manage the endowment funds, endowment income, gifts, all other nongeneral fund reserves and balances, and local funds of or held by the University in accordance with this section and the provisions of the Uniform Prudent Management of Institutional Funds Act (§ 64.2-1100 et seq.).

C. No member of the board is personally liable for losses suffered by any endowment fund, endowment income, gift, other nongeneral fund reserve and balance, or local funds of or held by the University arising from investments made pursuant to the provisions of subsection B.

D. The investment and management of endowment funds, endowment income, gifts, all other nongeneral fund reserves and balances, or local funds of or held by the University is not subject to the provisions of the Virginia Public Procurement Act (§ 2.2-4300 et seq.).

E. In addition to the investment practices authorized by the Uniform Prudent Management of Institutional Funds Act (§ 64.2-1100 et seq.), the board may invest or reinvest the endowment funds, endowment income, gifts, all other nongeneral fund reserves and balances, and local funds of or held by the University in derivatives, options, and financial securities.

F. The authority provided in this section to invest and reinvest nongeneral fund reserves and balances of or held by the University is predicated upon an approved management agreement between the University and the Commonwealth.

2009, cc. 737, 767, § 23-50.10:01; 2016, c. 588.

§ 23.1-2307. Process or notice.

Process against or notice to the board shall be served only in the City of Richmond upon the rector, vice-rector, or secretary of the board or the president of the University.

1968, c. 93, § 23-50.14; 2016, c. 588.

§ 23.1-2308. The Medical College of Virginia, Health Sciences Schools of the University.

The colleges, schools, and divisions previously existing as The Medical College of Virginia are designated the Medical College of Virginia, Health Sciences Schools of the University.

1968, c. 93, § 23-50.7; 2016, c. 588; 2017, c. 314.

§ 23.1-2309. Operations of Medical Center.

A. The University may provide medical and health sciences education and related research through teaching hospitals and related health care and health maintenance facilities, collectively referred to in this section as the Medical Center. The Medical Center may participate in cooperative arrangements reflective of changes in health care delivery.

B. The University may create, own in whole or in part, or otherwise control corporations, partnerships, insurers, or other entities whose activities promote the operations of the Medical Center and its mission; cooperate or enter into joint ventures with such entities; and enter into contracts in connection with such joint ventures. Without limiting the power of the University to issue bonds, notes, guarantees, or other evidence of indebtedness pursuant to subsection C in connection with such activities, no such creation, ownership, or control shall create any responsibility of the University, the Commonwealth, or any agency of the Commonwealth for the operations or obligations of any entity or in any way make the University, the Commonwealth, or any agency of the Commonwealth responsible for the payment of debt or other obligations of such entity. All such interests shall be reflected on the financial statements of the Medical Center.

C. Notwithstanding the provisions of Chapter 11 (§ 23.1-1100 et seq.), the University may issue bonds, notes, guarantees, or other evidence of indebtedness without the approval of any other governmental body subject to the following provisions:

1. Such debt is used solely for the purpose of paying not more than 50 percent of the cost of capital improvements in connection with the operation of the Medical Center or related issuance costs, reserve funds, and other financing expenses, including interest during construction or acquisition and for up to one year thereafter.

2. No revenues of the University are pledged to the payment of such debt except those revenues derived from the operation of the Medical Center and related health care and educational activities, and no general fund appropriation and special Medicaid disproportionate share payments for indigent and medically indigent patients who are not eligible for the Virginia Medicaid Program are pledged to the payment of such debt.

3. Such debt states that it does not constitute a debt of the Commonwealth or a pledge of the faith and credit of the Commonwealth.

4. Such debt is not sold to the public.

5. The total principal amount of such debt outstanding at any one time does not exceed $25 million.

6. The Treasury Board approves the terms and structure of such debt.

7. The purpose, terms, and structure of such debt are promptly communicated to the Governor and the Chairmen of the House Appropriations and Senate Finance Committees.

8. All such indebtedness is reflected on the financial statements of the Medical Center.

D. Subject to meeting the conditions set forth in subsection C, such debt may be in such form and have such terms as the board may provide and shall be in all respects debt of the University for the purposes of §§ 23.1-1110, 23.1-1115, and 23.1-1116.

1994, c. 621, § 23-50.16; 2016, c. 588.

§ 23.1-2310. Authority to create Virginia Commonwealth University School of Medicine-Northern Virginia Division.

A. The board may establish the Virginia Commonwealth University School of Medicine-Northern Virginia Division (the Division). If established, the board shall operate the Division in the areas of program and service emphasis that the Council approves pursuant to subdivision 7 of § 23.1-203.

B. The board has the same powers with respect to the operation of the Division as are vested in the board regarding the University.

2002, c. 694, § 23-50.16:01; 2016, c. 588.

§ 23.1-2311. Virginia Center on Aging.

A. The Virginia Center on Aging (the Center) shall be located at the University and shall be an interdisciplinary study, research, information, and resource facility for the Commonwealth. The Center shall utilize the full capability of the faculty, staff, libraries, laboratories, and clinics of the University for the benefit of older Virginians and the expansion of knowledge relating to the aged and the aging process.

B. The Center is subject to the supervision and control of the board.

C. The board shall appoint an advisory committee for the Center.

D. The board shall appoint an executive director for the Center who shall:

1. Exercise all powers and perform all duties imposed upon him by law;

2. Perform all duties imposed upon him by the board; and

3. Employ such personnel and contract for such services as may be required to carry out the purposes of this section.

E. The Center, under the direction of the executive director, shall:

1. Develop and promote programs of continuing education and in-service training for persons who work with or provide services to the elderly;

2. Develop educational and training programs for persons 60 years old or older to assist them in adjusting to the aging process, including retirement planning, health maintenance, employment opportunities, recreation, and self-development;

3. Foster development of educational courses for students at institutions of higher education in disciplines other than gerontology to increase their understanding of the process of aging in humans;

4. Conduct research in the field of gerontology and make the research findings available to interested public and private agencies;

5. Collect and maintain data on a statewide and regional basis on the characteristics and conditions of persons over the age of 60 and make such data available to the Department for Aging and Rehabilitative Services and all other organizations and state agencies involved in planning and delivering services to persons over the age of 60;

6. Coordinate the functions and services of the Center with the Department for Aging and Rehabilitative Services (i) in such a manner that the knowledge, education, and research programs in the Center constitute a readily available resource for the Department in planning and service delivery and (ii) to prevent any duplication of effort;

7. Apply for and accept grants from the United States government, state government, state agencies, or any other source to carry out the purposes of this section. The Center may execute such agreements and comply with such conditions as may be necessary to apply for and accept such grants;

8. Accept gifts, bequests, and any other thing of value to be used to carry out the purposes of this section;

9. Receive, administer, and expend all funds and other assistance made available to the Center to carry out the purposes of this section; and

10. Do all other things necessary or convenient to carrying out the purposes of this section.

2016, c. 588.

§ 23.1-2312. Establishment of a branch campus in the State of Qatar.

A. In recognition that global educational opportunities benefit the intellectual and economic interests of the Commonwealth, the board may establish, operate, and govern a branch campus of the University in the State of Qatar. The board has the same powers with respect to operation and governance of its branch campus in Qatar as are vested in the board by law with respect to the University. In operating such branch campus, the board shall provide appropriate professional opportunities for Virginia-based faculty to teach or conduct research on the Qatar campus and educational opportunities for Virginia-based students to study or conduct research on the Qatar campus.

B. Nothing contained in this section shall be deemed a waiver of the sovereign immunity of the Commonwealth or the University.

C. In its operation of any branch campus established in the State of Qatar, the board and its employees shall not discriminate on the basis of race, color, religion, national origin, sex, sexual orientation, or gender identity and shall not abridge the constitutional rights of freedom of speech and religion. Any agreement that the board enters to establish, operate, or govern the branch campus in Qatar shall contain contractual assurances to the board that the branch campus shall operate without discrimination on the basis of race, color, religion, national origin, sex, sexual orientation, or gender identity and without abridging the constitutional rights of freedom of speech and religion.

2002, c. 801, § 23-50.16:36; 2016, c. 588; 2020, c. 1137.