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Code · Virginia · Title 38.2 · Chapter 45

Code of Virginia § 38.2-4520. Corporate restrictions.

72 words·~1 min read·/va/title-38-2/chapter-45/38-2-4520

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Any nonstock corporation subject to this chapter shall not engage in any other business. However, a nonstock corporation may assist in the administration of governmental health care programs in a manner provided for by contract or regulations. A nonstock corporation's charter may provide for ex officio directors and directors elected by persons or associations who are not directors or members of the nonstock corporation.
1980, c. 682, § 38.1-909; 1986, c. 562.
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