                                 CODE OF VIRGINIA

BOARD OF DIRECTORS (§ 2.2-2262)

The powers of the Authority shall be exercised by a governing body consisting of
the members of the Authority acting as a board. The Board shall elect from its
membership a vice-chairman, treasurer and secretary. The offices of secretary
and treasurer may be combined. The Board may elect such other officers who need
not be a member of the Board.
		Four members shall constitute a quorum of the Board for the purpose of
organizing the Authority, conducting its business, and for all other purposes.
All actions shall be taken by vote of a majority of the members of the Board,
unless Authority bylaws require a larger number.
		The Board shall have full authority to manage the properties and business of
the Authority, and to prescribe, amend, and repeal bylaws, rules, and
regulations governing the manner in which the business of the Authority may be
conducted, and the powers granted to it may be exercised. The Board may assign
to the Treasury Board or the State Treasurer such powers and duties as it deems
proper.

HISTORY: 1981, c. 569, § 2.1-234.25; 1993, Sp. Sess., c. 1; 1996, c. 835; 1998,
cc. 498, 504; 2001, c. 844.