Virginia Code 59.1-21.18:2: Definitions
As used in this chapter, unless the context requires otherwise, the following terms and phrases shall have the following meanings:
Terms Used In Virginia Code 59.1-21.18:2
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Distributor: shall mean any distributor, wholesaler, jobber, consignee or commission agent who purchases or otherwise acquires possession of or an interest in petroleum products under a contract of supply in the Commonwealth from a supplier for redistribution or wholesale sale;
4. See Virginia Code 59.1-21.18:2
- Force majeure: means an act of God or any other cause not reasonably within the control of the supplier. See Virginia Code 59.1-21.18:2
- Monthly allocation: shall mean the monthly amount of petroleum products sold or otherwise supplied to a distributor under applicable U. See Virginia Code 59.1-21.18:2
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- 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
- Petroleum products: shall mean kerosene and number one and two heating oils;
2. See Virginia Code 59.1-21.18:2
- Supplier: shall mean any person, partnership, company, corporation or association engaged in the refining and subsequent sale of petroleum products to any distributor in the Commonwealth;
3. See Virginia Code 59.1-21.18:2
1.”Petroleum products” shall mean kerosene and number one and two heating oils;
2. “Supplier” shall mean any person, partnership, company, corporation or association engaged in the refining and subsequent sale of petroleum products to any distributor in the Commonwealth;
3. “Distributor” shall mean any distributor, wholesaler, jobber, consignee or commission agent who purchases or otherwise acquires possession of or an interest in petroleum products under a contract of supply in the Commonwealth from a supplier for redistribution or wholesale sale;
4. “Monthly allocation” shall mean the monthly amount of petroleum products sold or otherwise supplied to a distributor under applicable U.S. Department of Energy regulations and rules, or which the supplier may otherwise be allocating to its distributors;
5.”To discontinue” shall mean the failure or refusal to sell a monthly allocation as defined herein to a distributor for a period of six consecutive months unless such failure or refusal is the direct and proximate result of force majeure;
6.”To reduce” shall mean the failure or refusal of a supplier to deliver at least seventy-five per centum of a monthly allocation to a distributor for a period of two consecutive months unless such failure or refusal is the direct and proximate result of an allocation percentage factor applied by the supplier to all its distributors or force majeure;
7.”Force majeure” means an act of God or any other cause not reasonably within the control of the supplier.
1980, c. 457.