Terms Used In West Virginia Code > Chapter 18B > Article 1F - Management Agreements for the Higher Education Policy Commission

• Agreement: means an agreement or contractual relationship entered into between the commission and an affiliated corporation pursuant to the provisions of this article. See West Virginia Code 18B-1F-2
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• approval: when used in reference to action by the commission or the council, means action in which the governance rationale of a governing board under its jurisdiction is given due consideration, and the action of the commission is to additionally establish whether the proposed institutional action is consistent with law and established policy and is an appropriate advancement of the public interest. See West Virginia Code 18B-1-2
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Bequest: Property gifted by will.
• Board of directors: means the governing body of a corporation created pursuant to section three of this article. See West Virginia Code 18B-1F-2
• Chancellor: means the Chancellor for Higher Education where the context refers to a function of the Higher Education Policy Commission. See West Virginia Code 18B-1-2
• Collaboration: means entering into an agreement with one or more providers of education services in order to enhance the scope, quality, or efficiency of education services. See West Virginia Code 18B-1-2
• commission: means the commission created by §. See West Virginia Code 18B-1-2
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• corporation: means a corporation which meets the essential criteria prescribed in section three of this article and whose purpose is to provide management services to the commission in carrying out the day to day operations of the Technology Park. See West Virginia Code 18B-1F-2
• Executive director: means the chief executive officer of an affiliated corporation employed pursuant to section five of this article. See West Virginia Code 18B-1F-2
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
• Laws of the state: includes the Constitution of the State of West Virginia and the Constitution of the United States, and treaties and laws made in pursuance thereof. See West Virginia Code 2-2-10
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Oversight: Committee review of the activities of a Federal agency or program.
• Potential membership: means the total number of members who comprise the board of directors when all membership seats are filled. See West Virginia Code 18B-1F-2
• rules: means a regulation, standard, policy, or interpretation of general application and future effect. See West Virginia Code 18B-1-2
• State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
• Technology Park: means the state-owned West Virginia Education, Research and Technology Park affiliated with the commission. See West Virginia Code 18B-1F-2