23-91.33 - Conveyance of real estate; disposition of proceeds. - Virginia Statutes

§ 23-91.33. Conveyance of real estate; disposition of proceeds.

The rector and visitors of George Mason University with the approval of theGovernor first obtained, are hereby authorized to lease, sell and convey anyand all real estate to which it has acquired title by gift, devise orpurchase since the commencement of the University under any previous names,or which may hereafter be conveyed or devised to it. The proceeds derivedfrom any such lease, sale or conveyance shall be held by the rector andvisitors of George Mason University upon the identical trusts, and subject tothe same uses, limitations and conditions, if any, that are expressed in theoriginal deed or will under which its title was derived; or if there be nosuch trusts, uses, limitations or conditions expressed in such original deedor will, then such funds shall be applied by the rector and visitors of theUniversity to such purposes as said board may deem best for the University.

(1972, c. 550.)