13.1-901 - Sale of certain real property by incorporated educational institutions. - Virginia Statutes

§ 13.1-901. Sale of certain real property by incorporated educationalinstitutions.

In all cases where an incorporated educational institution, or its board ofdirectors, or trustees, for its benefit, owns or holds more than 1,000 acresof land in one or more tracts outside of a city or incorporated town, suchboard of trustees or directors may, notwithstanding any provision in itscharter, or in the deed, will or muniment of title under which such realestate is held, by a majority vote of all of the members of such board, selland convey all of such real estate in excess of 1,000 acres, the portion tobe sold to embrace both land and buildings as may be determined by the board.

(Code 1950, § 13.1-246.1; 1973, c. 476; 1985, c. 522.)