                                 CODE OF VIRGINIA

JOINT VENTURES; SUBSIDIARIES; INVESTMENTS (§ 15.2-5340.1)

An authority shall have the power to:

1. 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 &#8220;institution,&#8221; as such
term is defined in &#xA7; 64.2-1100 shall be governed by the Uniform Prudent
Management of Institutional Funds Act (&#xA7; 64.2-1100 et seq.).

2. 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.

3. 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.

4. 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.

5. 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.

HISTORY: 2006, c. 658; 2008, c. 184.