The general purposes of the West Virginia law institute are to promote and encourage the clarification and simplification of the law of West Virginia, to improve the better administration of justice and to conduct scholarly legal research and scientific legal work. To that end it shall be the duty of the West Virginia law institute to:
(a) Consider needed improvements in both substantive and procedural law and to make recommendations concerning the same to the Legislature;
(b) Examine and study the law of West Virginia to discover defects and inequities and of recommending needed reforms;
(c) Receive and consider suggestions from judges, justices, public officials, lawyers and the public generally as to defects and anachronisms in the law;
(d) Recommend from time to time such changes in the law as it deems necessary to modify or eliminate antiquated and inequitable rules of law;
(e) Render annual reports to the Legislature and, if it deems so advisable, accompany its reports with proposed bills to carry out any of its recommendations;
(f) Recommend the repeal of obsolete statutes and suggest needed amendments, additions and deletions; and
(g) Organize and conduct an annual meeting within the state for scholarly discussions of current problems in West Virginia law, bringing together representatives of the Legislature, practicing attorneys, members of the judiciary and West Virginia State Bar and representatives of the law teaching profession.