No part of the net earnings of any planning district commission organized under the provisions of this chapter shall inure to the benefit of, or be distributable to, any of its members, officers or other private persons, other than to its member localities as provided in this chapter. However, the commission may pay reasonable compensation for services rendered and make payments and distributions in furtherance of the purposes of a planning district commission as set forth in this chapter and in its charter and bylaws. Upon the dissolution or termination of any planning district commission, it shall, after paying or making provisions for the payment of its liabilities, distribute its assets to its member localities, pro rata, based upon the formula used to determine local government dues to the commission.
1989, c. 178, § 15.1-1403.1; 1995, cc. 732, 796; 1997, c. 587.
Structure Code of Virginia
Title 15.2 - Counties, Cities and Towns
Chapter 42 - Regional Cooperation Act
§ 15.2-4201. Purpose of chapter
§ 15.2-4203. Organization of planning district commission
§ 15.2-4204. Disposition of earnings and assets of planning district commissions
§ 15.2-4205. Powers of commission generally
§ 15.2-4206. Additional powers of planning district commissions
§ 15.2-4207. Purposes of commission
§ 15.2-4208. General duties of planning district commissions
§ 15.2-4209. Preparation and adoption of regional strategic plan
§ 15.2-4210. Commission to act only in conformity with regional strategic plan
§ 15.2-4211. Amendment of regional strategic plan
§ 15.2-4212. Review of regional strategic plan by commission
§ 15.2-4214. Cooperation and consultation with other agencies
§ 15.2-4215. Annual report required
§ 15.2-4217. Regional Cooperation Incentive Fund created; administration thereof
§ 15.2-4217.1. Specialized Transportation Incentive Fund
§ 15.2-4218. Local governing bodies authorized to appropriate or lend funds
§ 15.2-4219. Exemption of commission from taxation
§ 15.2-4220. Dual membership authorized