West Virginia Business Development Corporations. | Midpage

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West Virginia Code

14

West Virginia Business Development Corporations.

31-14-1Short title; definitions.31-14-2Incorporators; purposes; agreement of incorporation.31-14-3Authorized capital stock; description of shares; consideration for sale of shares.31-14-4Issuance of charter; exemption from license tax.31-14-5Corporate powers.31-14-6Board of directors; officers.31-14-7Financial institutions as members of corporation; loans to corporation by members.31-14-8Powers of stockholders and members; voting.31-14-8aStatewide corporation; economic regions created; loan committees.31-14-9Purchase of securities and stock by other corporations, fiduciaries and financial institutions.31-14-10Creation of surplus from annual net earnings.31-14-11Corporation not to receive deposits; designation of depository bank.31-14-12Examination by and reports to banking commissioner.31-14-13Exemption from payment of business and occupation taxes; treatment as banking institution for purposes of property taxation.31-14-14Amendment of charter.31-14-15Applicability of general corporation law.31-14-16Severability of provisions.