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2016 SESSION
16104356DBe it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding in Chapter 16.6 of Title 23 a section numbered 23-231.37 as follows:
§ 23-231.37. Operations and governance agreement with a public institution of higher education.
Notwithstanding any other provision of this chapter, New College and any public institution of higher education may enter into an operations and governance agreement that may include (i) the merger of New College and the public institution of higher education on terms and conditions acceptable to each institution or (ii) the delegation or assignment of some or all of the duties of New College set forth in this chapter by New College to the public institution of higher education and the assumption of such duties by the public institution of higher education. Such operations and governance agreement shall be subject to the approval of two-thirds of the members of the governing board of New College and two-thirds of the members of the governing board of the public institution of higher education.