There is a newer version of the West Virginia Code
2010 West Virginia Code
CHAPTER 31D. WEST VIRGINIA BUSINESS CORPORATION ACT
ARTICLE 6. SHARES AND DISTRIBUTIONS.
§31D-6-631. Corporation's acquisition of its own shares.
§31D-6-631. Corporation's acquisition of its own shares.(a) Subject to the provisions of chapter thirty-one-a of this code and unless otherwise prohibited by law, a corporation may acquire its own shares and shares so acquired constitute authorized but unissued shares.
(b) If the articles of incorporation prohibit the reissue of the acquired shares, the number of authorized shares is reduced by the number of shares acquired.
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