§8-33-6. Disposition of surplus of commission.
If a commission should realize a surplus over and above the
amount required for the improvement, maintenance and operation of
its facilities and for meeting all required payments on its
obligations, it shall set aside such reserve for future
improvements, maintenance, operations and contingencies as it shall
deem proper and shall then apply the residue of such surplus, if
any, to the payment of any recognized and established obligations
not then due, and after all such recognized and established
obligations have been paid and discharged in full, the commission
shall, at the end of each fiscal year, set aside the reserve for
future improvements, maintenance, operations and contingencies, as
aforesaid, and then pay the residue of such surplus, if any, to the
governmental bodies creating and establishing such commission in
direct proportion to their financial contribution.
Note: WV Code updated with legislation passed through the 2016 Regular Session
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