§ 15.2-5108. Issuance of certificate or charter
The State Corporation Commission shall issue a certificate of incorporation or charter to the authority if it finds that:
1. The articles of incorporation conform to law; and
2. The estimated costs and rates for services of the proposed projects are fair and equitable, and have been advertised under § 15.2-5104.
Upon the issuance of the certificate or charter such authority shall be conclusively deemed to have been lawfully and properly created and established and authorized to exercise its powers under this chapter.
(Code 1950, § 15-764.8; 1950, p. 1316; 1962, c. 623, § 15.1-1246; 1973, c. 478; 1983, c. 80; 1984, c. 239; 1997, c. 587.)
Sections: Previous 15.2-5101 15.2-5102 15.2-5103 15.2-5104 15.2-5105 15.2-5106 15.2-5107 15.2-5108 15.2-5109 15.2-5110 15.2-5111 15.2-5112 15.2-5113 15.2-5114 15.2-5115 NextLast modified: April 16, 2009