§ 3.1-22.12. (Repealed effective October 1, 2008) Gifts and bequests to Foundation
Gifts and bequests of money, security and other property to the fund shall be deemed to be gifts of the Commonwealth, and the fund shall be exempt from all state and local taxes except income earned by the farm operator or operators in the operation of the model farm. Any income earned from gifts, bequests, rent, security and other property shall be deposited to the credit of the fund. In the event that the model farm cannot be established, operated, or maintained, the Director of the Department of Conservation and Recreation may dispose of the property remaining at the farm and in the fund in any manner which he deems fit.
(1977, c. 57; 1986, c. 390.)
Sections: Previous 3.1-22.6 3.1-22.7 3.1-22.8 3.1-22.9 3.1-22.10 3.1-22.11 3.1-22.12Last modified: April 2, 2009