2.2-903 - Nonstock corporation to assist small businesses. - Virginia Statutes

§ 2.2-903. Nonstock corporation to assist small businesses.

The Department may establish a nonstock corporation under Chapter 10 (§13.1-801 et seq.), Title 13.1 as an instrumentality to assist the Departmentin providing support to the small business segment of the economy of theCommonwealth. The Department may do all things necessary to qualify suchcorporation as a certified development company under Subchapter V of theSmall Business Investment Act of 1958 (15 U.S.C. § 695 et seq.), or anyamendment or successor statute thereto, as well as regulations adoptedthereunder by the United States Small Business Administration. Any action bythe Department to establish such a corporation prior to July 1, 1986, isratified and approved.

(1986, c. 297, § 9-249.1; 1996, cc. 589, 599; 2001, c. 844.)