West Virginia Code 31-18-22 – Termination or dissolution
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Upon the termination or dissolution, all rights and properties of the Housing Development Fund, including the Operating Loan Fund, the Land Development Fund, the Mortgage Finance Bond Insurance Fund, and the Affordable Housing Fund, shall pass to and be vested in the State of West Virginia, subject to the rights of bondholders, lienholders, and other creditors.
Terms Used In West Virginia Code 31-18-22
- Affordable Housing Fund: means the affordable housing fund created and established by the Housing Development Fund in accordance with §. See West Virginia Code 31-18-3
- Housing Development Fund: means the West Virginia Housing Development Fund heretofore created and established by §. See West Virginia Code 31-18-3
- Land development: means the process of acquiring land for residential housing construction or nonresidential projects or of making, installing, or constructing improvements, including waterlines and water supply installations, sewer lines and sewage disposal installations, steam, gas, telephone, and telecommunications and electric lines and installations, roads, railroad spurs, docking and shipping facilities, streets, curbs, gutters, sidewalks, drainage, and flood control facilities, whether on or off the site, which the Housing Development Fund deems necessary or desirable to prepare such land for construction within this state. See West Virginia Code 31-18-3
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Operating Loan Fund: means the operating loan fund which may be created and established by the Housing Development Fund in accordance with §. See West Virginia Code 31-18-3
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10