Virginia § 23.1-1014 - Covered institutions; operational authority; financial operations; financing and indebtedness
Full text of Virginia Code of Virginia § 23.1-1014 — Covered institutions; operational authority; financial operations; financing and indebtedness, with citation guidance and answers to common questions.
§ 23.1-1014. Covered institutions; operational authority; financial operations; financing and indebtedness
A. Each covered institution may:
1. Borrow money and issue bonds, notes, or other obligations as provided in this article and purchase such bonds, notes, or other obligations;
2. Seek financing from, incur, or assume indebtedness to, and enter into contractual commitments with, the Virginia Public Building Authority and the Virginia College Building Authority, which authorities may borrow money and make and issue negotiable notes, bonds, notes, or other obligations to provide such financing relating to facilities or any project; and
3. Seek financing from, incur or assume indebtedness to, and enter into contractual commitments with, the Commonwealth as otherwise provided by law relating to the institution's facilities or any project.
B. Notwithstanding the provisions of this chapter, no covered institution is exempt from any requirement or covenant contained in any outstanding bonds, notes, or other obligations.
2005, cc. 933, 945, § 23-38.107; 2016, c. 588; 2017, c. 314.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 23.1-1014
What does Code of Virginia § 23.1-1014 cover?
Section 23.1-1014 ("Covered institutions; operational authority; financial operations; financing and indebtedness") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 23.1-1014?
A common citation format is "Code of Virginia § 23.1-1014" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 23.1-1014 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.