Upon the filing in the office of the Secretary of State of the agreement provided for in section two of this article, the Secretary of State shall issue his certificate as provided in section seven, article one of this chapter, except that the Secretary of State shall not require the payment of the license tax provided for in sections seventy-eight and seventy-nine, article twelve, chapter eleven of the Code of West Virginia, 1931, as amended. A corporation organized under the provisions of this article shall be exempt from such license tax.
Structure West Virginia Code
Article 14. West Virginia Business Development Corporations
§31-14-1. Short Title; Definitions
§31-14-2. Incorporators; Purposes; Agreement of Incorporation
§31-14-3. Authorized Capital Stock; Description of Shares; Consideration for Sale of Shares
§31-14-4. Issuance of Charter; Exemption From License Tax
§31-14-6. Board of Directors; Officers
§31-14-7. Financial Institutions as Members of Corporation; Loans to Corporation by Members
§31-14-8. Powers of Stockholders and Members; Voting
§31-14-8a. Statewide Corporation; Economic Regions Created; Loan Committees
§31-14-10. Creation of Surplus From Annual Net Earnings
§31-14-11. Corporation Not to Receive Deposits; Designation of Depository Bank
§31-14-12. Examination by and Reports to Banking Commissioner
§31-14-14. Amendment of Charter