§ 38.2-4520. Corporate restrictions
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.)
Sections: Previous 38.2-4509.1 38.2-4510 38.2-4511 38.2-4512 38.2-4513 38.2-4514 38.2-4515 38.2-4516 38.2-4517 38.2-4518 38.2-4519 38.2-4520 38.2-4521 38.2-4522 38.2-4523 NextLast modified: April 3, 2009