23-81 - Gifts, bequests and devises. - Virginia Statutes

§ 23-81. Gifts, bequests and devises.

Any person may deposit in the state treasury, or bequeath money, stocks orpublic bonds of any kind to be so deposited, or grant, devise or bequeathproperty, real or personal, to be sold and the proceeds to be so deposited,in sums not less than $100, which shall be invested in securities that arelegal investments under the laws of the Commonwealth for public funds for thebenefit of the University, and in such case the interest or dividendsaccruing on such investments shall be paid to the rector and visitors of theUniversity, to be by them appropriated to the general purposes thereof,unless some particular appropriation shall have been designated by the donoror testator, as hereinafter provided.

(Code 1919, § 822; 1956, c. 184.)