Virginia Code 62.1-162: Authority to establish and operate zone; conditions and restrictions of act of Congress, etc.
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Any public or private corporation authorized by this chapter to make application for the privilege of establishing, operating and maintaining such foreign-trade zone, whose application is granted pursuant to the terms of such act of Congress is authorized to establish a foreign-trade zone and to operate and maintain it, individually or jointly with any other public corporation, subject to the conditions and restrictions of the act of Congress, and any amendments thereto, and under such rules and regulations and for the period of time that may be prescribed by the board established by the act of Congress to carry out the provisions of the act.
Terms Used In Virginia Code 62.1-162
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Public corporation: means the Commonwealth of Virginia or any political subdivision thereof or any incorporated municipality therein or any public agency of the Commonwealth or of any political subdivision thereof or of any municipality therein. See Virginia Code 1-219.1
Code 1950, § 62-121; 1968, c. 659; 1970, c. 598.