Terms Used In West Virginia Code > Chapter 18B > Article 12A - Centers for Economic Development and Technology Advancement

• Agreement: means any agreement or contractual relationship being entered into between a doctoral institution and a center pursuant to the provisions of this article. See West Virginia Code 18B-12A-2
• 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.
• Center: means a center for economic development and technology advancement created pursuant to section three of this article. See West Virginia Code 18B-12A-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
• 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.
• Doctoral institution: means a state institution of higher education as defined in subsection (d), section one, article eight of this chapter. See West Virginia Code 18B-12A-2
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Governing body: means the governing body of a center created pursuant to the provisions of this article. See West Virginia Code 18B-12A-2
• 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}
• 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.
• President: means the chief executive officer of a center employed pursuant to section five of this article. See West Virginia Code 18B-12A-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
• State institution of higher education: means any university, college, or community and technical college under the jurisdiction of a governing board as that term is defined in this section. See West Virginia Code 18B-1-2