{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/15.2-5340.1.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/15.2-5340.1.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/15.2-5340.1.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/15.2-5340.1.html"}],"law_id":73977,"edition_id":1,"section_id":73977,"structure_id":13141,"section_number":"15.2-5340.1","catch_line":"Joint ventures; subsidiaries; investments","history":"2006, c. 658; 2008, c. 184.","full_text":"An authority shall have the power to:\n\n1\n\nAssist in or provide for the creation of domestic or foreign stock and nonstock corporations, limited liability companies, partnerships, limited partnerships, associations, foundations or other supporting organizations or other entities and to purchase, receive, subscribe for or otherwise acquire, own, hold, vote, use, employ, sell, mortgage, lend, pledge, or otherwise dispose of, shares of or other interests in, or obligations of, any domestic or foreign stock and nonstock corporations, limited liability companies, partnerships, limited partnerships, associations, foundations or other supporting organizations, joint ventures or other entities organized for any purpose, or direct or indirect obligations of the United States, or of any other government, state, territory, governmental district or municipality or of any other obligations of any domestic or foreign stock or nonstock corporation, limited liability company, partnership, limited partnership, association, foundation or other supporting organization, joint venture or other entity organized for any purpose or any individual. The investments of any entity wholly owned or controlled by a hospital authority that is an “institution,” as such term is defined in § 64.2-1100 shall be governed by the Uniform Prudent Management of Institutional Funds Act (§ 64.2-1100 et seq.).2\n\nParticipate in joint ventures with individuals, domestic or foreign stock and nonstock corporations, limited liability companies, partnerships, limited partnerships, associations, foundations or other supporting organizations or other entities for providing medical care or related services or other activities that the authority may undertake to the extent that such undertakings assist the authority in carrying out the purposes and intent of this chapter.3\n\nProvide domestic or foreign stock and nonstock corporations, limited liability companies, partnerships, limited partnerships, associations, foundations or other supporting organizations, joint ventures or other entities owned in whole or in part or controlled, directly or indirectly, in whole or in part, by the authority with appropriate assistance, including making loans and providing time of employees, in carrying out any activities authorized by this chapter.4\n\nMake loans and provide other assistance to domestic or foreign stock and nonstock corporations, limited liability companies, partnerships, limited partnerships, associations, foundations or other supporting organizations, joint ventures or other entities.5\n\nTransact its business, locate its offices and control, directly or through domestic or foreign stock and nonstock corporations, limited liability companies, partnerships, limited partnerships, associations, foundations or other supporting organizations, joint ventures or other entities, facilities that will assist or aid the authority in carrying out the purposes and intent of this chapter.","order_by":null,"text":{"0":{"id":266071,"text":"An authority shall have the power to:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":266072,"text":"Assist in or provide for the creation of domestic or foreign stock and nonstock corporations, limited liability companies, partnerships, limited partnerships, associations, foundations or other supporting organizations or other entities and to purchase, receive, subscribe for or otherwise acquire, own, hold, vote, use, employ, sell, mortgage, lend, pledge, or otherwise dispose of, shares of or other interests in, or obligations of, any domestic or foreign stock and nonstock corporations, limited liability companies, partnerships, limited partnerships, associations, foundations or other supporting organizations, joint ventures or other entities organized for any purpose, or direct or indirect obligations of the United States, or of any other government, state, territory, governmental district or municipality or of any other obligations of any domestic or foreign stock or nonstock corporation, limited liability company, partnership, limited partnership, association, foundation or other supporting organization, joint venture or other entity organized for any purpose or any individual. The investments of any entity wholly owned or controlled by a hospital authority that is an “institution,” as such term is defined in § 64.2-1100 shall be governed by the Uniform Prudent Management of Institutional Funds Act (§ 64.2-1100 et seq.).","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":266073,"text":"Participate in joint ventures with individuals, domestic or foreign stock and nonstock corporations, limited liability companies, partnerships, limited partnerships, associations, foundations or other supporting organizations or other entities for providing medical care or related services or other activities that the authority may undertake to the extent that such undertakings assist the authority in carrying out the purposes and intent of this chapter.","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":266074,"text":"Provide domestic or foreign stock and nonstock corporations, limited liability companies, partnerships, limited partnerships, associations, foundations or other supporting organizations, joint ventures or other entities owned in whole or in part or controlled, directly or indirectly, in whole or in part, by the authority with appropriate assistance, including making loans and providing time of employees, in carrying out any activities authorized by this chapter.","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":266075,"text":"Make loans and provide other assistance to domestic or foreign stock and nonstock corporations, limited liability companies, partnerships, limited partnerships, associations, foundations or other supporting organizations, joint ventures or other entities.","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3","next_prefix":"5"},"5":{"id":266076,"text":"Transact its business, locate its offices and control, directly or through domestic or foreign stock and nonstock corporations, limited liability companies, partnerships, limited partnerships, associations, foundations or other supporting organizations, joint ventures or other entities, facilities that will assist or aid the authority in carrying out the purposes and intent of this chapter.","type":"section","prefixes":["5"],"prefix":"5","entire_prefix":"5","prefix_anchor":"5","level":1,"prior_prefix":"4"}},"ancestry":[{"id":13141,"edition_id":1,"name":"Powers","identifier":"2","label":"article","depth":4,"order_by":1,"parent_id":13046,"metadata":{},"date_created":"2026-06-26 03:44:20","date_modified":"2026-06-26 03:44:20","permalink":{"id":158891,"object_type":"structure","relational_id":13141,"identifier":"2","token":"15.2\/IV\/53\/2","url":"\/15.2\/IV\/53\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13046,"edition_id":1,"name":"Hospital Authorities","identifier":"53","label":"chapter","depth":3,"order_by":1,"parent_id":12721,"metadata":{},"date_created":"2026-06-26 03:44:11","date_modified":"2026-06-26 03:44:11","permalink":{"id":158799,"object_type":"structure","relational_id":13046,"identifier":"53","token":"15.2\/IV\/53","url":"\/15.2\/IV\/53\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12721,"edition_id":1,"name":"Other Governmental Entities","identifier":"IV","label":"subtitle","depth":2,"order_by":1,"parent_id":12720,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":157897,"object_type":"structure","relational_id":12721,"identifier":"IV","token":"15.2\/IV","url":"\/15.2\/IV\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12720,"edition_id":1,"name":"Counties, Cities and Towns","identifier":"15.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":151279,"object_type":"structure","relational_id":12720,"identifier":"15.2","token":"15.2","url":"\/15.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":61897,"structure_id":13141,"section_number":"15.2-5322","catch_line":"In general","url":"\/15.2-5322\/","token":"15.2\/IV\/53\/2\/15.2-5322","metadata":false},{"id":69574,"structure_id":13141,"section_number":"15.2-5323","catch_line":"Study and investigation concerning plan","url":"\/15.2-5323\/","token":"15.2\/IV\/53\/2\/15.2-5323","metadata":false},{"id":80872,"structure_id":13141,"section_number":"15.2-5324","catch_line":"Preparation and operation of hospital projects; facilities relating to health care; additional powers","url":"\/15.2-5324\/","token":"15.2\/IV\/53\/2\/15.2-5324","metadata":false},{"id":82333,"structure_id":13141,"section_number":"15.2-5325","catch_line":"Clinics and instruction programs","url":"\/15.2-5325\/","token":"15.2\/IV\/53\/2\/15.2-5325","metadata":false},{"id":86768,"structure_id":13141,"section_number":"15.2-5326","catch_line":"Physicians and employees","url":"\/15.2-5326\/","token":"15.2\/IV\/53\/2\/15.2-5326","metadata":false},{"id":85853,"structure_id":13141,"section_number":"15.2-5327","catch_line":"Powers of nonstock corporations","url":"\/15.2-5327\/","token":"15.2\/IV\/53\/2\/15.2-5327","metadata":false},{"id":57690,"structure_id":13141,"section_number":"15.2-5328","catch_line":"Bylaws and rules and regulations","url":"\/15.2-5328\/","token":"15.2\/IV\/53\/2\/15.2-5328","metadata":false},{"id":56048,"structure_id":13141,"section_number":"15.2-5329","catch_line":"Committees","url":"\/15.2-5329\/","token":"15.2\/IV\/53\/2\/15.2-5329","metadata":false},{"id":64484,"structure_id":13141,"section_number":"15.2-5330","catch_line":"Construction, repair and management","url":"\/15.2-5330\/","token":"15.2\/IV\/53\/2\/15.2-5330","metadata":false},{"id":68173,"structure_id":13141,"section_number":"15.2-5331","catch_line":"Donations","url":"\/15.2-5331\/","token":"15.2\/IV\/53\/2\/15.2-5331","metadata":false},{"id":67612,"structure_id":13141,"section_number":"15.2-5332","catch_line":"Regulating practice and nursing in hospital","url":"\/15.2-5332\/","token":"15.2\/IV\/53\/2\/15.2-5332","metadata":false},{"id":57416,"structure_id":13141,"section_number":"15.2-5333","catch_line":"Rules as to patients","url":"\/15.2-5333\/","token":"15.2\/IV\/53\/2\/15.2-5333","metadata":false},{"id":61320,"structure_id":13141,"section_number":"15.2-5334","catch_line":"Purchases or leases of hospital projects","url":"\/15.2-5334\/","token":"15.2\/IV\/53\/2\/15.2-5334","metadata":false},{"id":76018,"structure_id":13141,"section_number":"15.2-5335","catch_line":"Acting with federal government","url":"\/15.2-5335\/","token":"15.2\/IV\/53\/2\/15.2-5335","metadata":false},{"id":79824,"structure_id":13141,"section_number":"15.2-5336","catch_line":"Cooperation with subdivision of Commonwealth","url":"\/15.2-5336\/","token":"15.2\/IV\/53\/2\/15.2-5336","metadata":false},{"id":54168,"structure_id":13141,"section_number":"15.2-5337","catch_line":"Purchase or lease of property; sale of property","url":"\/15.2-5337\/","token":"15.2\/IV\/53\/2\/15.2-5337","metadata":false},{"id":67500,"structure_id":13141,"section_number":"15.2-5338","catch_line":"Owning property","url":"\/15.2-5338\/","token":"15.2\/IV\/53\/2\/15.2-5338","metadata":false},{"id":69991,"structure_id":13141,"section_number":"15.2-5339","catch_line":"Borrowing money","url":"\/15.2-5339\/","token":"15.2\/IV\/53\/2\/15.2-5339","metadata":false},{"id":78520,"structure_id":13141,"section_number":"15.2-5340","catch_line":"Contracts","url":"\/15.2-5340\/","token":"15.2\/IV\/53\/2\/15.2-5340","metadata":false},{"id":73977,"structure_id":13141,"section_number":"15.2-5340.1","catch_line":"Joint ventures; subsidiaries; investments","url":"\/15.2-5340.1\/","token":"15.2\/IV\/53\/2\/15.2-5340.1","metadata":false},{"id":59384,"structure_id":13141,"section_number":"15.2-5340.2","catch_line":"Insurance","url":"\/15.2-5340.2\/","token":"15.2\/IV\/53\/2\/15.2-5340.2","metadata":false},{"id":79955,"structure_id":13141,"section_number":"15.2-5341","catch_line":"Rules and regulations not to be inconsistent","url":"\/15.2-5341\/","token":"15.2\/IV\/53\/2\/15.2-5341","metadata":false},{"id":66833,"structure_id":13141,"section_number":"15.2-5342","catch_line":"Incidental powers","url":"\/15.2-5342\/","token":"15.2\/IV\/53\/2\/15.2-5342","metadata":false},{"id":61522,"structure_id":13141,"section_number":"15.2-5343","catch_line":"Eminent domain","url":"\/15.2-5343\/","token":"15.2\/IV\/53\/2\/15.2-5343","metadata":false},{"id":69970,"structure_id":13141,"section_number":"15.2-5344","catch_line":"Contracts with federal government","url":"\/15.2-5344\/","token":"15.2\/IV\/53\/2\/15.2-5344","metadata":false},{"id":61954,"structure_id":13141,"section_number":"15.2-5345","catch_line":"Security for funds deposited by authorities; deposit in certain savings accounts, etc., authorized","url":"\/15.2-5345\/","token":"15.2\/IV\/53\/2\/15.2-5345","metadata":false}],"previous_section":{"id":78520,"structure_id":13141,"section_number":"15.2-5340","catch_line":"Contracts","url":"\/15.2-5340\/","token":"15.2\/IV\/53\/2\/15.2-5340","metadata":false},"next_section":{"id":59384,"structure_id":13141,"section_number":"15.2-5340.2","catch_line":"Insurance","url":"\/15.2-5340.2\/","token":"15.2\/IV\/53\/2\/15.2-5340.2","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-5340.1\/","history_text":"

This law was first created in 2006. The record of its establishment is cataloged in chapter 658<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2008, chapter 184<\/a>.<\/p>","references":false,"refers_to":[{"id":84375,"section_number":"64.2-1100","catch_line":"Definitions","order_by":null,"url":"\/64.2-1100\/"}],"permalink":{"id":158969,"object_type":"law","relational_id":73977,"identifier":"15.2-5340.1","token":"15.2\/IV\/53\/2\/15.2-5340.1","url":"\/15.2-5340.1\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/15.2-5340.1\/","token":"15.2\/IV\/53\/2\/15.2-5340.1","dublin_core":{"Title":"Joint ventures; subsidiaries; investments","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-5340.1","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

An authority<\/span> shall have the power to:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Assist in or provide for the creation of domestic or foreign stock and nonstock corporations, limited liability companies, partnerships, limited partnerships, associations, foundations or other supporting organizations or other entities and to purchase, receive, subscribe for or otherwise acquire, own, hold, vote, use, employ, sell, mortgage, lend, pledge, or otherwise dispose of, shares of or other interests in, or obligations of, any domestic or foreign stock and nonstock corporations, limited liability companies, partnerships, limited partnerships, associations, foundations or other supporting organizations, joint ventures or other entities organized for any purpose, or direct or indirect obligations of the United States, or of any other government<\/span>, state, territory, governmental district or municipality or of any other obligations of any domestic or foreign stock or nonstock corporation, limited liability company, partnership, limited partnership, association, foundation or other supporting organization, joint venture or other entity organized for any purpose or any individual. The investments of any entity wholly owned or controlled by a hospital authority<\/span> that is an “institution,” as such term is defined in § 64.2-1100<\/a> shall be governed by the Uniform Prudent Management of Institutional Funds Act (§ 64.2-1100<\/a> et seq.). <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Participate in joint ventures with individuals, domestic or foreign stock and nonstock corporations, limited liability companies, partnerships, limited partnerships, associations, foundations or other supporting organizations or other entities for providing medical care or related services or other activities that the authority may undertake to the extent that such undertakings assist the authority in carrying out the purposes and intent<\/span> of this chapter. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Provide domestic or foreign stock and nonstock corporations, limited liability companies, partnerships, limited partnerships, associations, foundations or other supporting organizations, joint ventures or other entities owned in whole or in part or controlled, directly or indirectly, in whole or in part, by the authority with appropriate assistance, including making loans and providing time of employees, in carrying out any activities authorized by this chapter. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Make loans and provide other assistance to domestic or foreign stock and nonstock corporations, limited liability companies, partnerships, limited partnerships, associations, foundations or other supporting organizations, joint ventures or other entities. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Transact its business, locate its offices and control, directly or through domestic or foreign stock and nonstock corporations, limited liability companies, partnerships, limited partnerships, associations, foundations or other supporting organizations, joint ventures or other entities, facilities that will assist or aid the authority in carrying out the purposes and intent<\/span> of this chapter. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nJOINT VENTURES; SUBSIDIARIES; INVESTMENTS (\u00a7 15.2-5340.1)\n\nAn authority shall have the power to:\n\n1. Assist in or provide for the creation of domestic or foreign stock and\nnonstock corporations, limited liability companies, partnerships, limited\npartnerships, associations, foundations or other supporting organizations or\nother entities and to purchase, receive, subscribe for or otherwise acquire,\nown, hold, vote, use, employ, sell, mortgage, lend, pledge, or otherwise dispose\nof, shares of or other interests in, or obligations of, any domestic or foreign\nstock and nonstock corporations, limited liability companies, partnerships,\nlimited partnerships, associations, foundations or other supporting\norganizations, joint ventures or other entities organized for any purpose, or\ndirect or indirect obligations of the United States, or of any other government,\nstate, territory, governmental district or municipality or of any other\nobligations of any domestic or foreign stock or nonstock corporation, limited\nliability company, partnership, limited partnership, association, foundation or\nother supporting organization, joint venture or other entity organized for any\npurpose or any individual. The investments of any entity wholly owned or\ncontrolled by a hospital authority that is an “institution,” as such\nterm is defined in § 64.2-1100 shall be governed by the Uniform Prudent\nManagement of Institutional Funds Act (§ 64.2-1100 et seq.).\n\n2. Participate in joint ventures with individuals, domestic or foreign stock and\nnonstock corporations, limited liability companies, partnerships, limited\npartnerships, associations, foundations or other supporting organizations or\nother entities for providing medical care or related services or other\nactivities that the authority may undertake to the extent that such undertakings\nassist the authority in carrying out the purposes and intent of this chapter.\n\n3. Provide domestic or foreign stock and nonstock corporations, limited\nliability companies, partnerships, limited partnerships, associations,\nfoundations or other supporting organizations, joint ventures or other entities\nowned in whole or in part or controlled, directly or indirectly, in whole or in\npart, by the authority with appropriate assistance, including making loans and\nproviding time of employees, in carrying out any activities authorized by this\nchapter.\n\n4. Make loans and provide other assistance to domestic or foreign stock and\nnonstock corporations, limited liability companies, partnerships, limited\npartnerships, associations, foundations or other supporting organizations, joint\nventures or other entities.\n\n5. Transact its business, locate its offices and control, directly or through\ndomestic or foreign stock and nonstock corporations, limited liability\ncompanies, partnerships, limited partnerships, associations, foundations or\nother supporting organizations, joint ventures or other entities, facilities\nthat will assist or aid the authority in carrying out the purposes and intent of\nthis chapter.\n\nHISTORY: 2006, c. 658; 2008, c. 184.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}