(b) On the effective date of the agreement, the corporation becomes the fiscal agent for operations of the Technology Park on behalf of the commission pursuant to terms of the agreement.
(c) If an agreement is terminated, the funds, contributions or grants paid or held by the corporation and not encumbered or committed prior to termination shall be distributed as provided for in the agreement.
(d) If made part of the agreement, the corporation may use
services of both corporation employees and personnel of the
commission. The corporation may pay the costs incurred by the
commission, including personnel funded on grants and contracts,
fringe benefits of personnel funded on grants and contracts,
administrative support costs and other costs which may require
reimbursement. The corporation may include as costs any applicable
overhead and fringe benefit assessments necessary to recover the
costs expended by the commission, pursuant to the terms of the
agreement, and the commission may be reimbursed for expenses
incurred by it pursuant to the agreement.
Note: WV Code updated with legislation passed through the 2016 Regular Session
The West Virginia Code Online is an unofficial copy of the annotated WV Code, provided as a convenience. It has NOT been edited for publication, and is not in any way official or authoritative.