West Virginia Code 31-18A-8 – Prohibition on funds inuring to the benefit of or being distributable to the directors or officers
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No part of the funds of the energy conservation revolving loan fund shall inure to the benefit of or be distributable to the directors or officers of the Housing Development Fund except that the Housing Development Fund shall be authorized and empowered to pay reasonable compensation for services rendered and to make loans as previously specified in furtherance of its purposes under this article.
Terms Used In West Virginia Code 31-18A-8
- Housing development fund: means the West Virginia Housing Development Fund created and established by section four, article eighteen, chapter . See West Virginia Code 31-18A-3
- Revolving loan fund: means the West Virginia energy conservation revolving loan fund which is created and established by section six of this article. See West Virginia Code 31-18A-3