West Virginia Code
Article 18B. Mortgage and Industrial Development Investment Pool
§31-18B-12. Rules of Construction and Interpretation for Prompt Implementation of This Article

It is the intent of the Legislature that the Housing Development Fund shall proceed with the implementation of this article promptly upon the effective date of this article under the provisions of this section and of Enrolled Committee Substitute for Senate Bill No. 409, enacted at the regular session of the Legislature in the year one thousand nine hundred eighty-two.
Notwithstanding the provisions of sections seven and eight of this article for the promulgation of legislative rules and notwithstanding any contrary provisions of chapter twenty-nine-a of this code:
(1) The Housing Development Fund may promulgate emergency rules pursuant to the provisions of section fifteen, article three, chapter twenty-nine-a of this code to implement this article. Any such emergency rule, whether procedural, interpretive or legislative, shall be effective upon filing thereof in the state register. No findings of circumstances to justify such emergency rules shall be required; such emergency rules shall be deemed to have been promulgated to comply with a time limitation established by this code. No action shall lie for de novo or other review of such rule to contest or question the existence of circumstances justifying the promulgation of an emergency rule nor to challenge the validity of such rule because of its classification as an emergency rule: Provided, That no such rule shall suspend the provisions of section eight of this article.
(2) Any deed, deed of trust, mortgage or other instrument or document utilized in connection with any transaction arising under or affected by this article may contain provisions related to any emergency rule promulgated under this section and any extension or amendment thereof and shall, to the extent the instrument or document so provides, fully bind and be enforceable by the parties thereto as if such rule had been properly made effective under law and whether or not such rule thereafter expires or is revoked: Provided, That no such provision or agreement under this subdivision shall suspend the provisions of this article or exceed its limitations.

Structure West Virginia Code

West Virginia Code

Chapter 31. Corporations

Article 18B. Mortgage and Industrial Development Investment Pool

§31-18B-1. Legislative Intent

§31-18B-2. Establishment of State Mortgage and Industrial Development Investment Pool; Investment of Workers' Compensation Funds and Other Funds in Such Pool; Schedule of Moneys Invested; Authority of State Board of Investments to Invest Funds From t...

§31-18B-3. Housing Development Fund to Make Available State Mortgage and Industrial Development Investment Pool Funds for Mortgages on Single-Family Residential Units; Limitations Upon Type and Size of Such Mortgages

§31-18B-4. West Virginia Economic Development Authority to Make Available State Mortgage and Industrial Development Investment Pool Funds for Investment in Industrial Development; Amount of Funds Available; Interest Rate Specified

§31-18B-5. Reversion to State Board of Investments of Money Not Used for Mortgages

§31-18B-6. Interest Rate Charged by Housing Development Fund; Other Charges; Points

§31-18B-7. Term of Mortgage Loans; Renegotiation After Ten Years; Promulgation of Legislative Rules

§31-18B-8. Persons Eligible for Loans From the State Mortgage and Industrial Development Investment Pool; Housing Development Fund to Have Sole Discretion in Determining Who Is to Receive Loans; Discrimination Prohibited

§31-18B-9. Housing Development Fund May Contract With Private Institutions to Place and Service Loans or May Itself Provide Such Servicing; Increasing Interest Rate and Payment of a Portion of Interest to Cover Cost of Servicing

§31-18B-10. Disposition of Interest Income and Repayments of Principal

§31-18B-11. Procedural Rules Required

§31-18B-12. Rules of Construction and Interpretation for Prompt Implementation of This Article