This bill amends and reenacts sections of the Code of West Virginia related to agreements between institutions of higher education and private corporations, specifically focusing on intercollegiate athletics. It authorizes these institutions to contract with private corporations to conduct operational, economic, fiscal, and educational development activities related to their athletics programs. The bill includes provisions that limit the voting corporate directors of these private corporations to employees of the institution or its affiliates, and it allows institutions to transfer real and personal property to qualifying private corporations. Additionally, the bill clarifies that the activities of these corporations are exempt from certain state requirements and procedures.

The bill also repeals a previous section regarding the assignment or transfer of property to certain corporations, streamlining the process for institutions to engage with private entities. It establishes that the governing boards of state institutions of higher education can enter into agreements with private corporations for various purposes, including serving as fiscal agents for athletics-related endeavors. The new provisions aim to enhance the operational success and competitive nature of intercollegiate athletics while ensuring that the agreements benefit the institutions involved.

Statutes affected:
Introduced Version: 18B-12-2, 18B-12-3, 18B-12-4, 18B-12-10