Virginia Code 6.2-2400: Definition
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As used in this chapter:
Terms Used In Virginia Code 6.2-2400
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Entity: means any corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or other legal or commercial entity. See Virginia Code 6.2-100
“Securitization transaction” means a transaction relating to the issuance or transfer by a special purpose entity of beneficial interests or undivided interests, which entitle their holders to receive payments or other distributions that depend primarily on the cash flow from assets, including financial assets and other credit exposures, in which that special purpose entity has rights or the power to transfer rights.