Virginia Code Title 23.1. Institutions of Higher Education;  Other Educational and Cultural Institutions § 23.1-2003. Powers and duties

A. The board shall (i) appoint all teachers, staff members, and agents and fix their salaries and (ii) generally direct the affairs of the University.

B. The board may confer degrees.

C. The board may take, hold, and enjoy any gift, grant, devise, or bequest made to the University for any use or purpose designated by the donor or for the general purposes of the board when no use or purpose is designated, whether such gift, grant, devise, or bequest is made directly to the corporation or to trustees for its benefit.