Virginia Code 4.1-1500: Definitions
Current as of: 2024 | Check for updates
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As used in this chapter, unless the context requires a different meaning:
Terms Used In Virginia Code 4.1-1500
- Board: means the Board of Directors of the Virginia Cannabis Control Authority. See Virginia Code 4.1-600
- Fund: means the Virginia Cannabis Equity Business Loan Fund established in § Virginia Code 4.1-1500
- Marijuana: means any part of a plant of the genus Cannabis, whether growing or not, its seeds or resin; and every compound, manufacture, salt, derivative, mixture, or preparation of such plant, its seeds, its resin, or any extract containing one or more cannabinoids. See Virginia Code 4.1-600
- Person: includes any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or any other legal or commercial entity and any successor, representative, agent, agency, or instrumentality thereof. See Virginia Code 1-230
- Program: means the Virginia Cannabis Equity Business Loan Program established in § Virginia Code 4.1-1500
“CDFI” means a community development financial institution that provides credit and financial services for underserved communities.
“Fund” means the Virginia Cannabis Equity Business Loan Fund established in § 4.1-1501.
“Funding” means loans made from the Fund.
“Program” means the Virginia Cannabis Equity Business Loan Program established in § 4.1-1502.
“Social equity qualified cannabis licensee” means a person or business who meets the criteria in § 4.1-606 to qualify as a social equity applicant and who either holds or is in the final stages of acquiring, as determined by the Board, a license to operate a marijuana establishment.