                                 CODE OF VIRGINIA

DISPOSITION OF EARNINGS AND ASSETS OF PLANNING DISTRICT COMMISSIONS (§
15.2-4204)

No part of the net earnings of any planning district commission organized under
the provisions of this chapter shall inure to the benefit of, or be
distributable to, any of its members, officers or other private persons, other
than to its member localities as provided in this chapter. However, the
commission may pay reasonable compensation for services rendered and make
payments and distributions in furtherance of the purposes of a planning district
commission as set forth in this chapter and in its charter and bylaws. Upon the
dissolution or termination of any planning district commission, it shall, after
paying or making provisions for the payment of its liabilities, distribute its
assets to its member localities, pro rata, based upon the formula used to
determine local government dues to the commission.

HISTORY: 1989, c. 178, § 15.1-1403.1; 1995, cc. 732, 796; 1997, c. 587.