                                 CODE OF VIRGINIA

FORMATION OF CORPORATION (§ 36-149)

For the purposes set forth in §§ 36-141 through 36-148, the HDA may form a
corporation to administer and manage the portion of the Fund under its control
in accordance with the provisions thereof and to exercise and perform any or all
of the powers and duties provided therein. Such corporation shall be under the
control and supervision of the HDA. Such corporation shall have such of the
powers and duties of the HDA set forth in the above referenced sections as HDA
shall delegate to such corporation and such other powers and duties as shall be
provided by the documents and instruments creating and governing the corporation
and by applicable state law. The provisions of the above referenced sections
authorizing or requiring the HDA to exercise any power or to perform any duty
shall be deemed to authorize or require such corporation to exercise any such
power or to perform any such duty as shall be delegated by the HDA to such
corporation.

HISTORY: 1988, c. 687; 2013, c. 754.