                                 CODE OF VIRGINIA

ISSUANCE OF CERTIFICATE OR CHARTER (§ 15.2-5108)

The State Corporation Commission shall issue a certificate of incorporation or
charter to the authority if it finds that:

1. The articles of incorporation conform to law; and

2. The estimated costs and rates for services of the proposed projects are fair
and equitable, and have been advertised under &#xA7; 15.2-5104 or subsection A
of &#xA7; 15.2-5156, as applicable.
			Upon the issuance of the certificate or charter such authority shall be
conclusively deemed to have been lawfully and properly created and established
and authorized to exercise its powers under this chapter.

HISTORY: Code 1950, § 15-764.8; 1950, p. 1316; 1962, c. 623, § 15.1-1246;
1973, c. 478; 1983, c. 80; 1984, c. 239; 1997, c. 587; 2009, c. 473.