2006 Code of Virginia § 22.1-126 - Property given, devised or bequeathed to school board

22.1-126. Property given, devised or bequeathed to school board.

When any real or personal property is given, devised or bequeathed to anyschool board or for public school purposes, it shall be vested in the schoolboard unless inconsistent with the terms of the gift, devise or bequest andshall be managed and applied by the school board according to the wishes ofthe donor or testator. The school board shall, in addition to the regularsettlement which it is required to make of all school funds, settle annuallybefore the commissioner of accounts so far as the management of the propertyso bequeathed or devised is concerned, and the court having jurisdictionshall have the right to compel such a settlement, as is provided for in 26-18.

In the case of any change in the boundaries of any school division, theschool board shall make provision for continuing the fulfillment of thepurposes of such donor or testator as far as practicable and settlement shallbe made as provided for above.

(Code 1950, 22-148; 1980, c. 559.)