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355 sections in this chapter.
W. Va. Code § 31-9-18
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Held unconstitutional.
W. Va. Code § 31-9-2
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Held unconstitutional.
W. Va. Code § 31-9-3
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Held unconstitutional.
W. Va. Code § 31-9-4
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Held unconstitutional.
W. Va. Code § 31-9-5
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Held unconstitutional.
W. Va. Code § 31-9-6
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Held unconstitutional.
W. Va. Code § 31-9-7
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Held unconstitutional.
W. Va. Code § 31-9-8
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Held unconstitutional.
W. Va. Code § 31-9-9
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Held unconstitutional.
W. Va. Code § 31-12-1 Certain building and loan associations and other institutions may subscribe to shares of federal savings and loan association
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Any building and loan association or company or savings and loan association or company or savings bank or any other association or corporation that may now or hereafter be eligible to become a member of any federal home loan bank according to the terms of the Federal Home Loan B…
W. Va. Code § 31-12-2 Powers of federal savings and loan associations in state
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Whenever, by the terms of any general or special laws of this state, any restriction is imposed upon the conduct in this state of any building and loan association or company or savings and loan association or company or savings bank or any other association or corporation, the s…
W. Va. Code § 31-12-3 Powers of state building and loan associations, etc., in relation to federal home loan bank
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Any building and loan association or company or savings and loan association or company or savings bank or any other association or corporation that may now or hereafter be eligible to become a member of any federal home loan bank according to the terms of the Federal Home Loan B…
W. Va. Code § 31-12-4 Joint offices, etc., with federal savings and loan association
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Any building and loan association or company or savings and loan association or company or savings bank or any other association or corporation that may now or hereafter be eligible to become a member of any federal home loan bank according to the terms of the Federal Home Loan B…
W. Va. Code § 31-12-5 Conversion of state building and loan associations, etc., into federal savings and loan associations; effect
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Any building and loan association or company or savings and loan association or company or savings bank or any other association or corporation organized under the laws of this state may convert into a federal savings and loan association according to the terms of the Federal Hom…
W. Va. Code § 31-14-1 Short title; definitions
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This article shall be known and may be cited as the "West Virginia Business Development Corporation Act." As used in this article, the following words and phrases, unless definitely defined or described, shall have the meanings and references as follows: (1) "Business Development…
W. Va. Code § 31-14-10 Creation of surplus from annual net earnings
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Each year the corporation shall set apart as earned surplus not less than ten percent of its net earnings for the preceding fiscal year until such surplus shall be equal in value to one half of the amount paid in on the capital stock then outstanding. Whenever the amount of surpl…
W. Va. Code § 31-14-11 Corporation not to receive deposits; designation of depository bank
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No corporation organized under the provisions hereof shall at any time be authorized to receive money on deposit. The corporation shall not deposit any of its funds in any banking institution unless such institution has been designated as a depository by a vote of a majority of t…
W. Va. Code § 31-14-12 Examination by and reports to banking commissioner
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Every corporation organized under the provisions of this article shall be subject to the examination and supervision of the commissioner of banking of this state, and shall make a report annually of its condition in such form and containing such information as the commissioner ma…
W. Va. Code § 31-14-13 Exemption from payment of business and occupation taxes; treatment as banking institution for purposes of property taxation
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Every corporation organized under the provisions of this article shall be exempt from payment or collection of the business and occupation tax as provided for by chapter eleven, article thirteen of the Code of West Virginia, 1931, as amended, upon the business done by it. Upon ce…
W. Va. Code § 31-14-14 Amendment of charter
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The charter of any corporation organized under the provisions of this article may be amended by the vote of the stockholders and the members of the corporation, voting separately by classes, and such amendments shall require approval by the affirmative vote of two thirds of the v…
W. Va. Code § 31-14-15 Applicability of general corporation law
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Every corporation organized under the provisions of this article shall be governed by the provisions of chapter thirty-one of the Code of West Virginia, 1931, as amended, except insofar as the provisions of that chapter are in conflict with the provisions of this article, in whic…
W. Va. Code § 31-14-16 Severability of provisions
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The provisions of this article are severable, and if any of its provisions shall be held unconstitutional by any court of competent jurisdiction, the decision of such court with respect thereto shall not affect or impair any of the remaining provisions hereof.
W. Va. Code § 31-14-2 Incorporators; purposes; agreement of incorporation
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Any number of persons, not fewer than ten, a majority of whom shall be bona fide residents of this state, may associate to create a business development corporation under the provisions of this article for the purpose of promoting, developing and advancing business and industrial…
W. Va. Code § 31-14-3 Authorized capital stock; description of shares; consideration for sale of shares
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The agreement of incorporation shall set forth the total amount of authorized capital stock, the number of shares in which it is divided, the par value of each of such shares and the amount of capital stock with which it will commence business and, if there be more than one class…
W. Va. Code § 31-14-4 Issuance of charter; exemption from license tax
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Upon the filing in the office of the Secretary of State of the agreement provided for in section two of this article, the Secretary of State shall issue his certificate as provided in section seven, article one of this chapter, except that the Secretary of State shall not require…
W. Va. Code § 31-14-5 Corporate powers
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In furtherance of the purposes set out in section two of this article, and to aid in providing an effective program to alleviate conditions of substantial and persistent unemployment, underemployment, and lack of stable economic development, by taking effective steps in planning …
W. Va. Code § 31-14-6 Board of directors; officers
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The business and affairs of the corporation shall be managed and conducted by a board of directors, a president and treasurer, and such other officers and such agents as the corporation by its bylaws shall authorize. The board of directors shall be determined by the incorporators…
W. Va. Code § 31-14-7 Financial institutions as members of corporation; loans to corporation by members
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Any financial institution as defined in section one of this article is authorized to become a member of a corporation organized under the provisions of this article by making application to the board of directors on such form and in such manner as the board of directors may requi…
W. Va. Code § 31-14-8 Powers of stockholders and members; voting
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The stockholders and the members of the corporation shall have the power to determine the number of and to elect directors as provided heretofore, to make, amend and repeal bylaws, to amend the corporate charter in the manner hereinafter provided, and to exercise such other of th…
W. Va. Code § 31-14-8A Statewide corporation; economic regions created; loan committees
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1. Without limitation upon the power created by this article for the formation of business development corporations restricted in activity or in membership to areas or regions less than statewide, there may be created under the provision hereof a business development corporation …
W. Va. Code § 31-14-9 Purchase of securities and stock by other corporations, fiduciaries and financial institutions
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Notwithstanding any other provision of law or any provision in their respective charters or trust indentures, any domestic corporation, including without implied limitation, any public utility company or insurance or casualty company; all foreign corporations licensed to do busin…
W. Va. Code § 31-15-1 Short title
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This article shall be known and may be cited as "The West Virginia Economic Development Authority Act."
W. Va. Code § 31-15A-1 Short title
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This article shall be known and may be cited as the "West Virginia Infrastructure and Jobs Development Act."
W. Va. Code § 31-15B-1 Definitions
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For purposes of this article and article fifteen-a of this chapter: (a) "Council" means the West Virginia infrastructure and jobs development council created in section three, article fifteen-a of this chapter; (b) "Infrastructure amendment" means the amendment to the Constitutio…
W. Va. Code § 31-15A-10 Recommendations by council for expenditures of funds by loan, grant, or for engineering assistance
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(a) To further accomplish the purpose and intent of this article, the Water Development Authority shall use the moneys in the Infrastructure Fund created pursuant to §31-15A-9 of this code, upon receipt of one or more recommendations from the council pursuant to §31-15A-5 of this…
W. Va. Code § 31-15-10 Approval by authority
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(a) To implement the powers and authority conferred upon it by this article, the board of the authority may adopt a resolution pursuant to which it shall: (1) specify and describe the project; (2) generally describe the public purpose to be served and the financing transaction to…
W. Va. Code § 31-15B-10 Termination or dissolution
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Upon the termination or dissolution of the West Virginia water development authority, all rights and properties of the West Virginia water development authority with respect to the infrastructure fund shall pass to and be vested in the state, subject to the rights of bondholders,…
W. Va. Code § 31-15-11 Trustee for bondholders; contents of trust agreement; pledge or assignment of revenues
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For bonds or notes issued pursuant to the provisions of this article, in the discretion of the authority, any bonds or notes, including refunding bonds or notes issued by the authority, may be secured by a trust agreement between the authority and a corporate trustee, which trust…
W. Va. Code § 31-15B-11 Treasurer to determine financial advisor
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The treasurer shall select a competent person or firm to serve as financial advisor for the issuance and sale of general obligation bonds issued pursuant to this article.
W. Va. Code § 31-15A-11 Reservation of funds for projects and infrastructure projects
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Eighty percent of the funds deposited in the West Virginia infrastructure fund shall be dedicated for the purpose of providing funding for the cost of projects as defined in subsection (n), section two of this article. Twenty percent of the funds deposited in the West Virginia in…
W. Va. Code § 31-15-12 Use of funds by authority; restrictions thereon relating to projects
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All moneys, properties and assets acquired by the authority, whether as proceeds from the sale of bonds or notes or as revenues or otherwise, shall be held by it in trust for the purposes of carrying out its powers and duties and shall be used and reused in accordance with the pu…
W. Va. Code § 31-15B-12 Governor to determine bond counsel
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The Governor shall select a competent person or firm to serve as bond counsel who shall be responsible for the issuance of a final approving opinion regarding the legality of the sale of general obligation bonds issued pursuant to this article. Notwithstanding the provisions of a…
W. Va. Code § 31-15A-12 Additional powers of water development authority
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To accomplish the purpose and intent of this article, the water development authority is hereby empowered, in addition to all other powers granted to it under this code, upon approval of the council, to (1) enter into agreements or other transactions with any federal or state age…
W. Va. Code § 31-15-12B Loans to support tourism
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(a) In order to preserve jobs and support tourism, the Economic Development Authority may make loans, consistent with this section. (b) For purpose of this section an applicant is: (1) A licensed entity that has filed an application for a loan under this section no later than Jul…
W. Va. Code § 31-15-13 Refunding bonds or notes
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Any bonds or notes issued by the authority or any other public body or authority of the state pursuant to the provisions of this article or any other provision of this code and at any time outstanding may at any time and from time to time be refunded by the authority by the issua…
W. Va. Code § 31-15A-13 Prohibition on funds inuring to the benefit of or being distributable to water development board; transactions between the water development board and officers having certain interests in such transactions
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No part of the infrastructure fund or the West Virginia infrastructure revenue debt service fund shall inure to the benefit of or be distributable to the water development board directors or officers of the water development authority except that the water development authority i…
W. Va. Code § 31-15B-13 Approval and payment of all necessary expenses
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All necessary expenses, including legal expenses, incurred in the issuance of any general obligation bonds pursuant to this article shall be paid out of the infrastructure general obligation debt service fund. The amount of any expenses incurred shall be certified to the water de…
W. Va. Code § 31-15-14 Obligations of authority undertaken pursuant to this article not debt of state, county, municipality or any political subdivision
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Bonds and notes, including refunding bonds and notes, issued under the authority of this article and any coupons in connection therewith, and any other obligations undertaken by the authority pursuant to this article, shall not constitute a debt or a pledge of the faith and credi…
W. Va. Code § 31-15A-14 Termination or dissolution
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Upon the termination or dissolution of the water development authority, all rights and properties of the water development authority with respect to the infrastructure fund shall pass to and be vested in the state, subject to the rights of lienholders and other creditors.
W. Va. Code § 31-15A-15 Projects not to be considered public improvements; competitive bid requirements
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(a) No project or infrastructure project acquired, constructed, maintained or financed, in whole or in part, by the water development authority shall be considered to be a "public improvement" within the meaning of the provisions of article five-a, chapter twenty-one of this code…
