                                 CODE OF VIRGINIA

PUBLIC PURPOSE (§ 23.1-2407)

The exercise of the powers granted by this chapter is in all respects for the
benefit of the inhabitants of the Commonwealth and the promotion of their
safety, health, welfare, knowledge, convenience, and prosperity. No part of the
assets or net earnings of the Authority shall inure to the benefit of or be
distributable to any private individual, except that reasonable compensation may
be paid for services rendered to or for the Authority affecting one or more of
its purposes, and benefits may be conferred that are in conformity with its
purposes. No private individual is entitled to share in the distribution of any
of the corporate assets upon dissolution of the Authority.

HISTORY: 1996, cc. 905, 1046, § 23-50.16:15; 2016, c. 588.