§31-18A-1. Short Title
This article shall be known and may be cited as the "West Virginia Energy Conservation Revolving Loan Fund."
§31-18A-10. Annual Audit
The Housing Development Fund shall cause an annual audit to be made of the energy conservation revolving loan fund by a resident independent certified public accountant of its books, accounts, and records, with respect to its receipts, disbursements, contracts, mortgages or deeds of trust, assignments, loans and all other matters relating to its financial operations […]
§31-18A-11. Severability Clause
If any provision of this article or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of the article which can be given effect without the invalid provision or application, and to this end the provisions of this article are severable.
§31-18A-2. Legislative Findings; Declaration of Policy and Responsibility; Purpose and Intent of Article
It is hereby determined and declared as a matter of legislative finding: (a) That an energy shortage exists within the State of West Virginia; (b) that the energy shortage is severe in certain areas of the state and may become severe, from time to time, in other areas of the state; (c) that the cost […]
§31-18A-3. Definitions
As used in this article, unless the context otherwise requires: (1) "Residential dwelling" means a single family residence located in the State of West Virginia, which it is determined by the Housing Development Fund can be substantially aided in the conservation of energy by the making of improvements financed with a loan under this article;
§31-18A-4. Administration of Revolving Loan Fund by West Virginia Housing Development Fund
The West Virginia energy conservation revolving loan fund, established and authorized by section six of this article, shall be administered by the board of directors of the West Virginia Housing Development Fund, a public corporate body, created and established by section four, article eighteen, chapter thirty-one of this code.
§31-18A-5. Powers and Duties of Housing Development Fund Regarding Revolving Loan Fund
The West Virginia Housing Development Fund is hereby authorized and empowered: (1) To accept appropriations, gifts, grants, bequests and devises, and to utilize or dispose of the same to carry out the purposes of this article;
§31-18A-6. Revolving Loan Fund Created; Purpose; Investment of Funds; Loan Agreements; Expenditures
(a) The board of directors of the Housing Development Fund shall create and establish a special revolving fund of moneys made available by appropriations, grants, contributions, bequests, devises, loan payments, interest and investment income, to be known as the energy conservation revolving loan fund and to be governed, administered and accounted for by the directors, […]
§31-18A-7. Terms and Conditions of Loans From Revolving Loan Fund
No loans shall be made by the Housing Development Fund except to eligible owners of residential dwellings who meet reasonable criteria of credit worthiness as defined by the Housing Development Fund and in accordance with a written loan agreement which shall include, but not be limited to, the following terms and conditions: (1) No loan […]
§31-18A-8. Prohibition on Funds Inuring to the Benefit of or Being Distributable to the Directors or Officers
No part of the funds of the energy conservation revolving loan fund shall inure to the benefit of or be distributable to the directors or officers of the Housing Development Fund except that the Housing Development Fund shall be authorized and empowered to pay reasonable compensation for services rendered and to make loans as previously […]
§31-18A-9. Termination or Dissolution
Upon termination or dissolution of the Housing Development Fund or the energy conservation revolving loan fund, all rights and properties held pursuant to the provisions of this article shall pass to and be vested in the State of West Virginia, subject to the rights of lienholders and other creditors.