{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/2.2-2240.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/2.2-2240.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/2.2-2240.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/2.2-2240.html"}],"law_id":73328,"edition_id":1,"section_id":73328,"structure_id":14474,"section_number":"2.2-2240","catch_line":"Nonstock corporation to assist economic development","history":"1995, c. 638, \u00a7 2.1-548.43; 1996, cc. 590, 598; 2001, c. 844; 2010, c. 869.","full_text":"The Board may establish nonprofit, nonstock corporations under Chapter 10 (\u00a7 13.1-801 et seq.) of Title 13.1 as public instrumentalities exercising public and essential governmental functions, to assist the Board and the Authority in (i) promoting Virginia’s economic development and tourism promotion efforts in the national and international corporate community; (ii) raising money in the corporate and nonprofit community to pay for advertising and promotion of the Commonwealth; (iii) raising nonstate dollars to complement state and local economic development activities; or (iv) conducting or undertaking other activities useful in carrying out the provisions of this article.\n\t\tThe board of directors of any such corporation shall be composed of the Chief Executive Officer of the Authority and eight members appointed by the Board of the Authority. However, any such corporation established to promote the tourism industry in the Commonwealth shall be composed of the Chief Executive Officer of the Authority, six members appointed by the Board of the Authority, and six members who represent the tourism industry appointed by the Governor. The terms of the members of any corporation established to promote the tourism industry in the Commonwealth appointed by the Governor shall be four years.\n\t\tThe Board shall require any such corporation to report to it at least annually on its activities.","order_by":null,"text":{"0":{"id":263894,"text":"The Board may establish nonprofit, nonstock corporations under Chapter 10 (\u00a7 13.1-801 et seq.) of Title 13.1 as public instrumentalities exercising public and essential governmental functions, to assist the Board and the Authority in (i) promoting Virginia’s economic development and tourism promotion efforts in the national and international corporate community; (ii) raising money in the corporate and nonprofit community to pay for advertising and promotion of the Commonwealth; (iii) raising nonstate dollars to complement state and local economic development activities; or (iv) conducting or undertaking other activities useful in carrying out the provisions of this article.\n\t\tThe board of directors of any such corporation shall be composed of the Chief Executive Officer of the Authority and eight members appointed by the Board of the Authority. However, any such corporation established to promote the tourism industry in the Commonwealth shall be composed of the Chief Executive Officer of the Authority, six members appointed by the Board of the Authority, and six members who represent the tourism industry appointed by the Governor. The terms of the members of any corporation established to promote the tourism industry in the Commonwealth appointed by the Governor shall be four years.\n\t\tThe Board shall require any such corporation to report to it at least annually on its activities.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":14474,"edition_id":1,"name":"Virginia Economic Development Partnership Authority","identifier":"4","label":"article","depth":5,"order_by":1,"parent_id":13344,"metadata":{},"date_created":"2026-06-26 03:48:15","date_modified":"2026-06-26 03:48:15","permalink":{"id":174259,"object_type":"structure","relational_id":14474,"identifier":"4","token":"2.2\/I\/D\/22\/4","url":"\/2.2\/I\/D\/22\/4\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13344,"edition_id":1,"name":"Authorities","identifier":"22","label":"chapter","depth":4,"order_by":1,"parent_id":12785,"metadata":{},"date_created":"2026-06-26 03:44:41","date_modified":"2026-06-26 03:44:41","permalink":{"id":173945,"object_type":"structure","relational_id":13344,"identifier":"22","token":"2.2\/I\/D\/22","url":"\/2.2\/I\/D\/22\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12785,"edition_id":1,"name":"State Authorities, Boards, Commissions, Councils, Foundations and Other Collegial Bodies","identifier":"D","label":"part","depth":3,"order_by":1,"parent_id":12784,"metadata":{},"date_created":"2026-06-26 03:43:53","date_modified":"2026-06-26 03:43:53","permalink":{"id":173913,"object_type":"structure","relational_id":12785,"identifier":"D","token":"2.2\/I\/D","url":"\/2.2\/I\/D\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12784,"edition_id":1,"name":"Organization of State Government","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":12749,"metadata":{},"date_created":"2026-06-26 03:43:53","date_modified":"2026-06-26 03:43:53","permalink":{"id":171455,"object_type":"structure","relational_id":12784,"identifier":"I","token":"2.2\/I","url":"\/2.2\/I\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12749,"edition_id":1,"name":"Administration of Government","identifier":"2.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":171453,"object_type":"structure","relational_id":12749,"identifier":"2.2","token":"2.2","url":"\/2.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":71466,"structure_id":14474,"section_number":"2.2-2234","catch_line":"Short title; declaration of public purpose; Authority created","url":"\/2.2-2234\/","token":"2.2\/I\/D\/22\/4\/2.2-2234","metadata":false},{"id":82244,"structure_id":14474,"section_number":"2.2-2235","catch_line":"Repealed","url":"\/2.2-2235\/","token":"2.2\/I\/D\/22\/4\/2.2-2235","metadata":false},{"id":57763,"structure_id":14474,"section_number":"2.2-2235.1","catch_line":"Board of directors; members and officers; Chief Executive Officer","url":"\/2.2-2235.1\/","token":"2.2\/I\/D\/22\/4\/2.2-2235.1","metadata":false},{"id":76103,"structure_id":14474,"section_number":"2.2-2236","catch_line":"Powers and duties of the Chief Executive Officer","url":"\/2.2-2236\/","token":"2.2\/I\/D\/22\/4\/2.2-2236","metadata":false},{"id":59928,"structure_id":14474,"section_number":"2.2-2236.1","catch_line":"Internal auditor; duties","url":"\/2.2-2236.1\/","token":"2.2\/I\/D\/22\/4\/2.2-2236.1","metadata":false},{"id":82287,"structure_id":14474,"section_number":"2.2-2237","catch_line":"Powers of Authority","url":"\/2.2-2237\/","token":"2.2\/I\/D\/22\/4\/2.2-2237","metadata":false},{"id":74531,"structure_id":14474,"section_number":"2.2-2237.1","catch_line":"Board of directors to develop strategic plan for economic development; marketing plan; operational plan; submission","url":"\/2.2-2237.1\/","token":"2.2\/I\/D\/22\/4\/2.2-2237.1","metadata":false},{"id":55858,"structure_id":14474,"section_number":"2.2-2237.2","catch_line":"Office of the Attorney General to provide instruction to Board","url":"\/2.2-2237.2\/","token":"2.2\/I\/D\/22\/4\/2.2-2237.2","metadata":false},{"id":57659,"structure_id":14474,"section_number":"2.2-2237.3","catch_line":"Division of Incentives","url":"\/2.2-2237.3\/","token":"2.2\/I\/D\/22\/4\/2.2-2237.3","metadata":false},{"id":80575,"structure_id":14474,"section_number":"2.2-2238","catch_line":"Economic development services","url":"\/2.2-2238\/","token":"2.2\/I\/D\/22\/4\/2.2-2238","metadata":false},{"id":59231,"structure_id":14474,"section_number":"2.2-2238.1","catch_line":"Repealed","url":"\/2.2-2238.1\/","token":"2.2\/I\/D\/22\/4\/2.2-2238.1","metadata":false},{"id":68142,"structure_id":14474,"section_number":"2.2-2239","catch_line":"Planning and research","url":"\/2.2-2239\/","token":"2.2\/I\/D\/22\/4\/2.2-2239","metadata":false},{"id":81200,"structure_id":14474,"section_number":"2.2-2239.1","catch_line":"Advisory Committee on Business Development and Marketing","url":"\/2.2-2239.1\/","token":"2.2\/I\/D\/22\/4\/2.2-2239.1","metadata":false},{"id":85170,"structure_id":14474,"section_number":"2.2-2239.2","catch_line":"Advisory Committee on International Trade","url":"\/2.2-2239.2\/","token":"2.2\/I\/D\/22\/4\/2.2-2239.2","metadata":false},{"id":73328,"structure_id":14474,"section_number":"2.2-2240","catch_line":"Nonstock corporation to assist economic development","url":"\/2.2-2240\/","token":"2.2\/I\/D\/22\/4\/2.2-2240","metadata":false},{"id":58846,"structure_id":14474,"section_number":"2.2-2240.1","catch_line":"Grants paid to the Authority to promote research, development, and commercialization of products","url":"\/2.2-2240.1\/","token":"2.2\/I\/D\/22\/4\/2.2-2240.1","metadata":false},{"id":84186,"structure_id":14474,"section_number":"2.2-2240.2","catch_line":"Repealed","url":"\/2.2-2240.2\/","token":"2.2\/I\/D\/22\/4\/2.2-2240.2","metadata":false},{"id":61025,"structure_id":14474,"section_number":"2.2-2240.2:1","catch_line":"Virginia Business Ready Sites Program Fund","url":"\/2.2-2240.2_1\/","token":"2.2\/I\/D\/22\/4\/2.2-2240.2_1","metadata":false},{"id":67862,"structure_id":14474,"section_number":"2.2-2240.2:2","catch_line":"(Expires June 30, 2028) Virginia Business Ready Expedited Permitting Program","url":"\/2.2-2240.2_2\/","token":"2.2\/I\/D\/22\/4\/2.2-2240.2_2","metadata":false},{"id":70905,"structure_id":14474,"section_number":"2.2-2240.3","catch_line":"Definitions; Virginia Jobs Investment Program and Fund; composition; general qualifications","url":"\/2.2-2240.3\/","token":"2.2\/I\/D\/22\/4\/2.2-2240.3","metadata":false},{"id":60629,"structure_id":14474,"section_number":"2.2-2240.4","catch_line":"Virginia New Jobs Program","url":"\/2.2-2240.4\/","token":"2.2\/I\/D\/22\/4\/2.2-2240.4","metadata":false},{"id":76902,"structure_id":14474,"section_number":"2.2-2240.5","catch_line":"Workforce Retraining Program","url":"\/2.2-2240.5\/","token":"2.2\/I\/D\/22\/4\/2.2-2240.5","metadata":false},{"id":76617,"structure_id":14474,"section_number":"2.2-2240.6","catch_line":"Small Business New Jobs and Retraining Programs","url":"\/2.2-2240.6\/","token":"2.2\/I\/D\/22\/4\/2.2-2240.6","metadata":false},{"id":68073,"structure_id":14474,"section_number":"2.2-2241","catch_line":"Moneys of Authority","url":"\/2.2-2241\/","token":"2.2\/I\/D\/22\/4\/2.2-2241","metadata":false},{"id":67421,"structure_id":14474,"section_number":"2.2-2242","catch_line":"Forms of accounts and records","url":"\/2.2-2242\/","token":"2.2\/I\/D\/22\/4\/2.2-2242","metadata":false},{"id":57058,"structure_id":14474,"section_number":"2.2-2243","catch_line":"Exemptions from taxes or assessments","url":"\/2.2-2243\/","token":"2.2\/I\/D\/22\/4\/2.2-2243","metadata":false},{"id":65043,"structure_id":14474,"section_number":"2.2-2244","catch_line":"Exemption of Authority from personnel and procurement procedures; adoption of procurement policies","url":"\/2.2-2244\/","token":"2.2\/I\/D\/22\/4\/2.2-2244","metadata":false},{"id":78223,"structure_id":14474,"section_number":"2.2-2245","catch_line":"Appropriations by any government","url":"\/2.2-2245\/","token":"2.2\/I\/D\/22\/4\/2.2-2245","metadata":false},{"id":80171,"structure_id":14474,"section_number":"2.2-2246","catch_line":"Conveyance, lease or transfer of property by a city or county to the Authority","url":"\/2.2-2246\/","token":"2.2\/I\/D\/22\/4\/2.2-2246","metadata":false}],"previous_section":{"id":85170,"structure_id":14474,"section_number":"2.2-2239.2","catch_line":"Advisory Committee on International Trade","url":"\/2.2-2239.2\/","token":"2.2\/I\/D\/22\/4\/2.2-2239.2","metadata":false},"next_section":{"id":58846,"structure_id":14474,"section_number":"2.2-2240.1","catch_line":"Grants paid to the Authority to promote research, development, and commercialization of products","url":"\/2.2-2240.1\/","token":"2.2\/I\/D\/22\/4\/2.2-2240.1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/2.2-2240\/","history_text":"

This law was first created in 1995. The record of its establishment is cataloged in chapter 638<\/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 3 times. 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. Those modifications are as follows: in 1996, chapters 590<\/a> and 598<\/a>; in 2001, chapter 844<\/a>; in 2010, chapter 869<\/a>.<\/p>","references":[{"id":58846,"section_number":"2.2-2240.1","catch_line":"Grants paid to the Authority to promote research, development, and commercialization of products","order_by":null,"url":"\/2.2-2240.1\/"}],"refers_to":[{"id":76305,"section_number":"13.1-801","catch_line":"Short title","order_by":null,"url":"\/13.1-801\/"}],"permalink":{"id":174317,"object_type":"law","relational_id":73328,"identifier":"2.2-2240","token":"2.2\/I\/D\/22\/4\/2.2-2240","url":"\/2.2-2240\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/2.2-2240\/","token":"2.2\/I\/D\/22\/4\/2.2-2240","dublin_core":{"Title":"Nonstock corporation to assist economic development","Type":"Text","Format":"text\/html","Identifier":"\u00a7 2.2-2240","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The Board<\/span> may establish nonprofit, nonstock corporations under Chapter 10 (\u00a7 13.1-801<\/a> et seq.) of Title 13.1 as public instrumentalities exercising public and essential governmental functions, to assist the Board<\/span> and the Authority<\/span> in (i) promoting Virginia’s economic development and tourism promotion efforts in the national and international corporate community; (ii) raising money in the corporate and nonprofit community to pay for advertising and promotion of the Commonwealth<\/span>; (iii) raising nonstate dollars to complement state<\/span> and local economic development activities; or (iv) conducting or undertaking other activities useful in carrying out the provisions of this article.\n\t\tThe board<\/span> of directors of any such corporation shall be composed of the Chief Executive Officer of the Authority<\/span> and eight members appointed by the Board<\/span> of the Authority<\/span>. However, any such corporation established to promote the tourism industry in the Commonwealth<\/span> shall be composed of the Chief Executive Officer of the Authority<\/span>, six members appointed by the Board<\/span> of the Authority<\/span>, and six members who represent the tourism industry appointed by the Governor. The terms of the members of any corporation established to promote the tourism industry in the Commonwealth<\/span> appointed by the Governor shall be four years.\n\t\tThe Board<\/span> shall require any such corporation to report to it at least annually on its activities.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nNONSTOCK CORPORATION TO ASSIST ECONOMIC DEVELOPMENT (\u00a7 2.2-2240)\n\nThe Board may establish nonprofit, nonstock corporations under Chapter 10 (\u00a7\n13.1-801 et seq.) of Title 13.1 as public instrumentalities exercising public\nand essential governmental functions, to assist the Board and the Authority in\n(i) promoting Virginia’s economic development and tourism promotion\nefforts in the national and international corporate community; (ii) raising\nmoney in the corporate and nonprofit community to pay for advertising and\npromotion of the Commonwealth; (iii) raising nonstate dollars to complement\nstate and local economic development activities; or (iv) conducting or\nundertaking other activities useful in carrying out the provisions of this\narticle.\n\t\tThe board of directors of any such corporation shall be composed of the Chief\nExecutive Officer of the Authority and eight members appointed by the Board of\nthe Authority. However, any such corporation established to promote the tourism\nindustry in the Commonwealth shall be composed of the Chief Executive Officer of\nthe Authority, six members appointed by the Board of the Authority, and six\nmembers who represent the tourism industry appointed by the Governor. The terms\nof the members of any corporation established to promote the tourism industry in\nthe Commonwealth appointed by the Governor shall be four years.\n\t\tThe Board shall require any such corporation to report to it at least annually\non its activities.\n\nHISTORY: 1995, c. 638, \u00a7 2.1-548.43; 1996, cc. 590, 598; 2001, c. 844; 2010, c.\n869.","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}}