10.1-2140 - Nonprofit corporation to assist Foundation; board of directors. - Virginia Statutes

§ 10.1-2140. Nonprofit corporation to assist Foundation; board of directors.

A. The Foundation may establish a nonprofit, nonstock corporation underChapter 10 (§ 13.1-801 et seq.) of Title 13.1 as a public instrumentality toassist the Foundation in (i) fostering collaboration and partnerships amongbusinesses, citizens, local governments, and state agencies; (ii) raisingmoney from the corporate and nonprofit communities and governmental agenciesto finance projects providing environmental education, pollution prevention,and citizen monitoring; and (iii) promoting the purposes of this chapter.

B. The Board of Directors of such corporation shall be composed of thechairman of the Foundation's Board of Trustees and eight members appointed bythe Board of Trustees. The eight members of the corporation shall havedemonstrated an interest in the conservation of natural resources andexperience in fundraising activities. The Foundation shall require thecorporation to report to it at least annually on its activities.

(2009, c. 600.)