West Virginia Code > Chapter 31E > Article 6 – Members – Membership Rights and Liabilities
Current as of: 2023 | Check for updates
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Other versions
| 31E-6-601 | Classes of members |
| 31E-6-602 | Rules for membership |
| 31E-6-603 | Imposition of fines and penalties; levy of dues and assessments |
| 31E-6-604 | Liability of members |
Terms Used In West Virginia Code > Chapter 31E > Article 6 - Members - Membership Rights and Liabilities
- Articles of incorporation: includes , but is not limited to, amended and restated articles of incorporation and articles of merger. See West Virginia Code 31E-1-150
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- board of directors: means the group of persons vested with management of the affairs of the corporation irrespective of the name by which the group is designated. See West Virginia Code 31E-1-150
- 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.
- Distribution: means a direct or indirect transfer of money or other property or incurrence of indebtedness by a corporation to or for the benefit of its members in respect of any of its membership interests or to or for the benefit of its officers or directors: Provided, That the payment of reasonable compensation for services rendered, the reimbursement of reasonable expenses, the granting of benefits to members in conformity with the corporation'. See West Virginia Code 31E-1-150
- Entity: includes corporation and foreign corporations. See West Virginia Code 31E-1-150
- Germane: On the subject of the pending bill or other business; a strict standard of relevance.
- Judgment: includes decrees and orders for the payment of money, or the conveyance or delivery of land or personal property, or some interest therein, or any undertaking, bond or recognizance which has the legal effect of a judgment. See West Virginia Code 2-2-10
- Member: means a person having membership rights in a corporation in accordance with the provisions of its certificate of incorporation or bylaws. See West Virginia Code 31E-1-150
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.