West Virginia Code 6D-1-1 – Definitions
For purposes of this article:
Terms Used In West Virginia Code 6D-1-1
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- 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
(a) “Applicable contract” means a contract of a state agency that has an actual or estimated value of at least $1 million: Provided, That this shall include a series of related contracts or orders in which the cumulative total exceeds $1 million.
(b) “Business entity” means any entity recognized by law through which business is conducted, including, but not limited to, a sole proprietorship, partnership, limited liability company, or corporation. For purposes of this article, “business entity” does not include publicly traded companies listed on a national or international stock exchange.
(c) “Disclosure” shall mean a form prescribed and approved by the Ethics Commission pursuant to § 6D-1-3 of this code.
(d) “Interested party” or “interested parties” means: (1) A business entity performing work or service pursuant to, or in furtherance of, the applicable contract, including sub-contractors; (2) any person who has an ownership interest equal to or greater than 25 percent in the business entity performing work or service pursuant to, or in furtherance of, the applicable contract; and (3) the person or business entity, if any, that served as a compensated broker or intermediary to actively facilitate the applicable contract or negotiated the terms of the applicable contract with the state agency: Provided, That §6D-1-1(d)(3) of this code shall not include persons or business entities performing legal services related to the negotiation or drafting of the applicable contract.
(e) “State agency” means a board, commission, office, department, or other agency in the executive, judicial, or legislative branch of state government, including publicly funded institutions of higher education: Provided, That for purposes of this article, the West Virginia Investment Management Board shall not be deemed a state agency nor subject to the requirements of this article.