West Virginia Code 5-16C-3 – Finance board responsibilities for review and approval of certain contracts
Current as of: 2023 | Check for updates
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The finance board is responsible for reviewing any proposed contract authorized by this article before it is executed by the director of the Public Employees Insurance Agency. If the board determines that the proposed contract meets the requirements of this article and would assist in effectively managing the costs for the programs involved and would not result in jeopardizing state funds or funds due the state, it shall approve the contract and authorize the director of the Public Employees Insurance Agency to execute the contract.
Terms Used In West Virginia Code 5-16C-3
- Contract: A legal written agreement that becomes binding when signed.
- Director: means the director of the Public Employees Insurance Agency created under article sixteen of this chapter. See West Virginia Code 5-16C-2
- Finance board: means the Public Employees Insurance Agency finance board created in section four, article sixteen of this chapter. See West Virginia Code 5-16C-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