There is hereby authorized to be established a fund to be designated “The University of the Virgin Islands Fund”, the purpose of which shall be to receive, manage, control and dispose of monies or property on behalf of the University of the Virgin Islands.
For the purpose of managing and exercising the powers conferred upon the Fund hereby established, the Board of Trustees of the University of the Virgin Islands is hereby constituted a body politic and corporate, in the name and style, “The University of the Virgin Islands Fund”, in such name and style: (a) to have perpetual […]
The Fund is specifically authorized to act for or represent the University in any proceeding, action or other cause with respect to the collection, acceptance or disbursement of funds, or the handling or dealing with property, and the University and Fund for all legal purposes and effects under the foregoing specification of authority shall be […]
The Legislature hereby authorizes the appropriation annually of funds for the purposes of the University including the payment of salaries and property acquisition. Funds so appropriated shall be deposited in an account to be maintained by the University and shall be administered by a fiscal officer of the Institution in accordance with procedures presented by […]
All monies acquired by the University of the Virgin Islands shall be deposited and maintained in the account provided for in section 494 of this title, and shall be accounted for in like manner to the Commissioner of Finance.
The Board of Trustees is authorized to make every effort to secure gifts, grants and loans to the University of the Virgin Islands Fund from private individuals, foundations and federal government agencies and to utilize such gifts, grants and loans for the purposes specified by the donor or lender.
The Board of Trustees shall submit a report to the Governor and the Legislature not later than January 15 of each year, which report shall contain: (a) A complete fiscal report of the University’s activities during the preceding fiscal year. (b) An enumeration and description of the various activities and accomplishments of the University during […]
