1. Nonprofit corporation for receiving and disbursing funds. The Iowa workforce development board may organize a corporation under the provisions of chapter 504A for the purpose of receiving and disbursing funds from public or private sources to be used to further workforce development in this state and to accomplish the mission of the board.
2. Incorporators. The incorporators of the corporation organized pursuant to this section shall be the chairperson of the Iowa workforce development board, the director of the department of workforce development, and a member of the Iowa workforce development board selected by the chairperson.
3. Board of directors. The board of directors of the corporation organized pursuant to this section shall be the members of the Iowa workforce development board or their successors in office.
4. Accepting grants in aid. The corporation organized pursuant to this section may accept grants of money or property from the federal government or any other source and may upon its own order use its money, property, or other resources for any of the purposes identified in section 84A.1B.
99 Acts, ch 21, §1
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