West Virginia Code 31-21-17 – Completed purpose
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If the corporation has completed the purposes for which the corporation was organized, the board of directors, by vote of at least a majority of a quorum of the directors and with the written consent of the Governor, may provide for the dissolution of the corporation and may provide for the transfer of any property held by the corporation as required by agreement or, if there are no related agreements, then to the DEP or another state agency or to another nonprofit corporation as directed by the DEP.
Terms Used In West Virginia Code 31-21-17
- Agreement: means any agreement being entered into between the nonprofit corporation and a business, corporation, private party or local or state government. See West Virginia Code 31-21-2
- board: means the board of directors of the corporation to be appointed under the provisions of section six of this article. See West Virginia Code 31-21-2
- 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 the West Virginia Land Stewardship Corporation, a nonstock, nonprofit corporation to be established under the West Virginia Nonprofit Corporation Act, article two, chapter . See West Virginia Code 31-21-2
- DEP: means the West Virginia Department of Environmental Protection or any successor agency. See West Virginia Code 31-21-2
- Nonprofit corporation: means a corporation established under the West Virginia Nonprofit Corporation Act, article two, chapter . See West Virginia Code 31-21-2
- Quorum: The number of legislators that must be present to do business.
- 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