15.2-5340.1 - Joint ventures; subsidiaries; investments.
§ 15.2-5340.1. Joint ventures; subsidiaries; investments.
An authority shall have the power to:
1. Assist in or provide for the creation of domestic or foreign stock andnonstock corporations, limited liability companies, partnerships, limitedpartnerships, associations, foundations or other supporting organizations orother entities and to purchase, receive, subscribe for or otherwise acquire,own, hold, vote, use, employ, sell, mortgage, lend, pledge, or otherwisedispose of, shares of or other interests in, or obligations of, any domesticor foreign stock and nonstock corporations, limited liability companies,partnerships, limited partnerships, associations, foundations or othersupporting organizations, joint ventures or other entities organized for anypurpose, or direct or indirect obligations of the United States, or of anyother government, state, territory, governmental district or municipality orof any other obligations of any domestic or foreign stock or nonstockcorporation, limited liability company, partnership, limited partnership,association, foundation or other supporting organization, joint venture orother entity organized for any purpose or any individual. The investments ofany entity wholly owned or controlled by a hospital authority that is an"institution," as such term is defined in § 55-268.12 shall be governed bythe Uniform Prudent Management of Institutional Funds Act (§ 55-268.11 etseq.) of the Code of Virginia.
2. Participate in joint ventures with individuals, domestic or foreign stockand nonstock corporations, limited liability companies, partnerships, limitedpartnerships, associations, foundations or other supporting organizations orother entities for providing medical care or related services or otheractivities that the authority may undertake to the extent that suchundertakings assist the authority in carrying out the purposes and intent ofthis chapter.
3. Provide domestic or foreign stock and nonstock corporations, limitedliability companies, partnerships, limited partnerships, associations,foundations or other supporting organizations, joint ventures or otherentities owned in whole or in part or controlled, directly or indirectly, inwhole or in part, by the authority with appropriate assistance, includingmaking loans and providing time of employees, in carrying out any activitiesauthorized by this chapter.
4. Make loans and provide other assistance to domestic or foreign stock andnonstock corporations, limited liability companies, partnerships, limitedpartnerships, associations, foundations or other supporting organizations,joint ventures or other entities.
5. Transact its business, locate its offices and control, directly or throughdomestic or foreign stock and nonstock corporations, limited liabilitycompanies, partnerships, limited partnerships, associations, foundations orother supporting organizations, joint ventures or other entities, facilitiesthat will assist or aid the authority in carrying out the purposes and intentof this chapter.
(2006, c. 658; 2008, c. 184.)