The Mason School of Business is the business school at the College of William & Mary in Virginia. The school, named after alumni and founder of Legg Mason, Raymond A. "Chip" Mason, in 2005, was ranked in the top 20 MBA programs in 2007 and the top 10 undergraduate programs among public universities. The school offers Full-time MBA, Part-time MBA, Executive MBA, Masters in Accounting and Undergraduate Business Degrees. Founded in 1693, the College is the second oldest university in the nation and educated many of the nation's Founding Fathers. It ranks consistently among the top 10 public, undergraduate liberal arts colleges in the United States. The College of William & Mary is consistently ranked among the nation’s top public universities—and it is the best small public university, according to the 2007 annual undergraduate rankings of colleges and universities by U.S. News & World Report. Proud traditions of the College include the founding of the national honor society Phi Beta Kappa and the first University Honor Code that inspires alumni, students and members of the College community to lead ethical and moral lives.