Virginia Code > Title 15.2 > Subtitle II > Chapter 9 – General Powers of Local Governments

		Sections
Article 1	Public Health and Safety; Nuisances.	15.2-900 – 15.2-926.4
Article 2	Waste and Recycling.	15.2-927 – 15.2-939
Article 3	Economic Development; Tourism; Historic Preservation.	15.2-940 – 15.2-946
Article 3.1	. Governor’s Economic Development Grant Fund.	15.2-946.1
Article 4	Public Transportation.	15.2-947 – 15.2-949
Article 5	Additional Powers.	15.2-950 – 15.2-987

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Terms Used In Virginia Code > Title 15.2 > Subtitle II > Chapter 9 - General Powers of Local Governments

Abandoned manufactured home: means a manufactured home occupying a manufactured home lot pursuant to a written agreement under which (i) the tenant has defaulted in rent or (ii) the landlord has the right to terminate the written rental agreement pursuant to § Virginia Code 55.1-1300
Accident and sickness insurance: means insurance against loss resulting from sickness, or from bodily injury or death by accident or accidental means, or from a combination of any or all of these perils. See Virginia Code 38.2-109
Acquired entity: means the domestic or foreign corporation or eligible entity that will have all of one or more classes or series of shares or eligible interests acquired in a share exchange. See Virginia Code 13.1-715.1
Acquiring entity: means the domestic or foreign corporation or eligible entity that will acquire all of one or more classes or series of shares or eligible interests of the acquired entity in a share exchange. See Virginia Code 13.1-715.1
Action: means any recoupment, counterclaim, setoff, or other civil action and any other proceeding in which rights are determined, including actions for possession, rent, unlawful detainer, unlawful entry, and distress for rent. See Virginia Code 55.1-1200
Additional land: means all land that a time-share developer has identified as land that may be added to a time-share project. See Virginia Code 55.1-2200
Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
Adjusted crime index: means the potential crime rate for a locality multiplied by the base year population of the locality as estimated by the Center for Public Service. See Virginia Code 9.1-165
Adult: means a person 18 years of age or more. See Virginia Code 1-203
Affiliate: means a person who directly or indirectly through one or more intermediaries controls, is controlled by, or is under common control with another person or is a senior executive officer of such person. See Virginia Code 13.1-729
Affiliate: means a person that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with the person specified. See Virginia Code 55.1-2200
Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
Agent: means a person who is a licensed bail bondsman who has been given power of attorney to act on the behalf of a licensed property bail bondsman. See Virginia Code 9.1-185
Allegation: something that someone says happened.
Alternative purchase: means anything valued in excess of $100 that is offered to a potential purchaser by the developer during the developer's sales presentation and that is purchased by such potential purchaser for more than $100, even though the purchaser did not purchase a time-share. See Virginia Code 55.1-2200
Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
Application deposit: means any refundable deposit of money, however denominated, including all money intended to be used as a security deposit under a rental agreement, or property, that is paid by a tenant to a landlord for the purpose of being considered as a tenant for a dwelling unit. See Virginia Code 55.1-1200
Application fee: means any nonrefundable fee that is paid by a tenant to a landlord or managing agent for the purpose of being considered as a tenant for a dwelling unit. See Virginia Code 55.1-1200
Appointive property: means the property or property interest subject to a power of appointment. See Virginia Code 64.2-701
Appraisal: A determination of property value.
Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
Arrest: Taking physical custody of a person by lawful authority.
Articles of incorporation: means all documents constituting, at any particular time, the charter of a corporation. See Virginia Code 13.1-603
Ascertainable standard: means a standard relating to an individual's health, education, support, or maintenance within the meaning of § 2041(b)(1)(A) or 2514(c)(1) of the Internal Revenue Code of 1986 and any applicable regulations. See Virginia Code 64.2-701
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
associate: shall mean (i) any other person who directly or indirectly controls, or is controlled by or under common control with, any such person or who is acting or intends to act jointly or in concert with any such person in connection with the acquisition of or exercise of beneficial ownership over shares; (ii) any corporation or organization of which any such person is an officer, director, manager or partner or as to which any such person performs a similar function; (iii) any other person having direct or indirect beneficial ownership of 10 percent or more of any class of equity securities of any such person; (iv) any trust or estate in which any such person has a beneficial interest or as to which any such person serves as trustee or in a similar fiduciary capacity; and (v) any relative or spouse of any such person, or any relative of such spouse, any one of whom has the same residence as any such person. See Virginia Code 13.1-728.1
Association: means the National Association of Insurance Commissioners. See Virginia Code 55.1-1000
Association: means the property owners' association. See Virginia Code 55.1-1800
Association: means the association organized under the provisions of § Virginia Code 55.1-2200
Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
Attorney: means the person designated and authorized by subscribers as the attorney-in-fact having authority to obligate them on reciprocal insurance contracts. See Virginia Code 38.2-1201
Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
Authorized fiduciary: means (i) a trustee or other fiduciary, other than a settlor, that has discretion to distribute or direct a trustee to distribute part or all of the income or principal of the first trust to one or more current beneficiaries and that is not (a) a current beneficiary of the first trust or a beneficiary to which the net income or principal of the first trust would be distributed if the first trust were terminated, (b) a trustee of the first trust that may be removed and replaced by a current beneficiary who has the power to remove the existing trustee of the first trust and designate as successor trustee a person that may be a related or subordinate party, as defined in Virginia Code 64.2-701
Authorized occupant: means a person entitled to occupy a dwelling unit with the consent of the landlord, but who has not signed the rental agreement and therefore does not have the financial obligations as a tenant under the rental agreement. See Virginia Code 55.1-1200
Authorized shares: means the shares of all classes a domestic or foreign corporation is authorized to issue. See Virginia Code 13.1-603
Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
Bail bondsman: means any person who is licensed by the Department who engages in the business of bail bonding and is thereby authorized to conduct business in all courts of the Commonwealth. See Virginia Code 9.1-185
Bail recovery: means an act whereby a person arrests a bailee with the object of surrendering the bailee to the appropriate court, jail, or police department, for the purpose of discharging the bailee's surety from liability on his bond. See Virginia Code 9.1-186
Bailee: means a person who has been released on bail, and who is or has been subject to a bond, as defined in § Virginia Code 9.1-186
Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
Base year: means the most recent fiscal year for which comparable data are available for: (i) population estimates by the Center for Public Service or the United States Bureau of the Census, adjusted for annexation as determined by the Department, (ii) actual state expenditures for salaries and expenses of sheriffs as reported by the Compensation Board, (iii) number of persons eligible for Temporary Assistance to Needy Families as defined in § Virginia Code 9.1-165
Beneficial owner: means any person who, directly or indirectly, through any contract, arrangement, or understanding, other than a revocable proxy, has or shares the power to vote, or to direct the voting of, shares; except that a member of a national securities exchange is not deemed to be a beneficial owner of securities held directly or indirectly by it on behalf of another person solely because the member is the record holder of the securities if the member is precluded by the rules of the exchange from voting without instruction on contested matters or matters that may affect substantially the rights or privileges of the holders of the securities to be voted. See Virginia Code 13.1-729
Beneficial ownership: means the sole or shared power to dispose or direct the disposition of shares, or the sole or shared power to vote or direct the voting of shares, or the sole or shared power to acquire shares, including any such power that is not immediately exercisable, whether such power is direct or indirect or through any contract, arrangement, understanding, relationship or otherwise. See Virginia Code 13.1-728.1
Beneficial shareholder: means a person that owns the beneficial interest in shares, which may be a record shareholder or a person on whose behalf shares are registered in the name of an intermediary as nominee. See Virginia Code 13.1-603
Beneficial shareholder: means a person who is the beneficial owner of shares held in a voting trust or by a nominee on the beneficial owner's behalf. See Virginia Code 13.1-729
Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
Beneficiary: means a person that (i) has a present or future, vested or contingent, beneficial interest in a trust; (ii) holds a power of appointment over trust property; or (iii) is an identified charitable organization that will or may receive distributions under the terms of the trust. See Virginia Code 64.2-701
Beneficiary: means a person that receives property under a transfer on death deed. See Virginia Code 64.2-621
Beneficiary form: means a registration of a security that indicates the present owner of the security and the intention of the owner regarding the person who will become the owner of the security upon the death of the owner. See Virginia Code 64.2-612
Bequest: Property gifted by will.
Board: means the Criminal Justice Services Board. See Virginia Code 9.1-101
Board: means the Criminal Justice Services Board. See Virginia Code 9.1-185
Board: means the Common Interest Community Board. See Virginia Code 55.1-2200
Board of directors: means the executive body of a property owners' association or a committee that is exercising the power of the executive body by resolution or bylaw. See Virginia Code 55.1-1800
Board of directors: means an executive and administrative entity, by whatever name denominated, designated in a time-share instrument as the governing body of the time-share estate owners' association. See Virginia Code 55.1-2200
Body-worn camera system: means the same as that term is defined in § Virginia Code 9.1-193
Building or housing code: means any law, ordinance, or governmental regulation concerning fitness for habitation or the construction, maintenance, operation, occupancy, use, or appearance of any structure or that part of a structure that is used as a home, residence, or sleeping place by one person who maintains a household or by two or more persons who maintain a common household. See Virginia Code 55.1-1200
Bureau of Insurance: means the division of the Commission established to administer the insurance laws of the Commonwealth. See Virginia Code 38.2-100
business of insurance: include solicitation, negotiations preliminary to execution, execution of an insurance contract, and the transaction of matters subsequent to execution of the contract and arising out of it. See Virginia Code 38.2-100
Capital components: means those items, whether or not a part of the common area, for which the association has the obligation for repair, replacement, or restoration and for which the board of directors determines funding is necessary. See Virginia Code 55.1-1800
Capital components: means those items, whether or not a part of the common elements, for which the unit owners' association has the obligation for repair, replacement, or restoration and for which the executive board determines funding is necessary. See Virginia Code 55.1-1900
Certificate: means a certificate issued by a judge on or before June 30, 2005, pursuant to former § Virginia Code 9.1-185
Chambers: A judge's office.
Charitable organization: means (i) a person, other than an individual, organized and operated exclusively for charitable purposes or (ii) a government or governmental subdivision, agency, or instrumentality, to the extent that it holds funds exclusively for a charitable purpose. See Virginia Code 64.2-701
Charitable purpose: means the relief of poverty, the advancement of education or religion, the promotion of health, a municipal or other governmental purpose, or another purpose the achievement of which is beneficial to the community. See Virginia Code 64.2-701
Charitable trust: means a trust, or portion of a trust, created for a charitable purpose described in § Virginia Code 64.2-701
Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
classification: means the plan, system, or arrangement for grouping risks with similar characteristics or a specified class of risk by recognizing differences in exposure to hazards. See Virginia Code 38.2-1901
Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
Closing disclosure: means the combined mortgage loan disclosure statement of final loan terms and closing costs prescribed under the Real Estate Settlement Procedures Act of 1974 (RESPA)(Virginia Code 55.1-1000
Commercial real estate: means any real estate other than (i) real estate containing one to four residential units or (ii) real estate classified for assessment purposes under the provisions of Article 4 (§ Virginia Code 55.1-1100
Commission: means the State Corporation Commission. See Virginia Code 38.2-100
Commission: means the State Corporation Commission. See Virginia Code 55.1-1000
Commission: means the State Corporation Commission of Virginia. See Virginia Code 13.1-603
Commissioner of Insurance: means the administrative or executive officer of the Bureau. See Virginia Code 38.2-100
Common area: means property within a development which is owned, leased, or required by the declaration to be maintained or operated by a property owners' association for the use of its members and designated as a common area in the declaration. See Virginia Code 55.1-1800
Common elements: means all portions of the condominium other than the units. See Virginia Code 55.1-1900
Common elements: means the real estate, improvements on such real estate, and the personalty situated within the time-share project that are subject to the time-share program. See Virginia Code 55.1-2200
Common expenses: means all expenditures lawfully made or incurred by or on behalf of the unit owners' association, together with all funds lawfully assessed for the creation or maintenance of reserves pursuant to the provisions of the condominium instruments. See Virginia Code 55.1-1900
Common interest community: means the same as that term is defined in § Virginia Code 55.1-1800
Common interest community manager: means the same as that term is defined in § Virginia Code 55.1-1800
Common interest community manager: means the same as that term is defined in § Virginia Code 55.1-1900
Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
Community care team: means the same as that term is defined in § Virginia Code 9.1-193
Community land trust: means a community housing development organization whose (i) corporate membership is open to any adult resident or organization of a particular geographic area specified in the bylaws of the organization and (ii) board of directors includes a majority of members who are elected by the corporate membership and are composed of tenants, corporate members who are not tenants, and any other category of persons specified in the bylaws of the organization and that:
1. See Virginia Code 55.1-1200
Company: means any association, aggregate of individuals, business, corporation, individual, joint-stock company, Lloyds type of organization, organization, partnership, receiver, reciprocal or interinsurance exchange, trustee or society. See Virginia Code 38.2-100
Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
Comprehensive crisis system: means the same as that term is defined in § Virginia Code 9.1-193
Condominium: means real property, and any incidents to or interests in such real property, lawfully subject to this chapter by the recordation of condominium instruments pursuant to the provisions of this chapter. See Virginia Code 55.1-1900
Condominium instruments: means , collectively, the declaration, bylaws, and plats and plans recorded pursuant to the provisions of this chapter. See Virginia Code 55.1-1900
Condominium unit: means a unit together with the undivided interest in the common elements appertaining to that unit. See Virginia Code 55.1-1900
Conspicuous: means so written, displayed, or presented that a reasonable person against whom the writing is to operate should have noticed it. See Virginia Code 13.1-603
Contact information: means any information that can be used to contact an owner, including the owner's name, address, telephone number, email address, or user identity on any electronic networking service. See Virginia Code 55.1-2200
Continuance: Putting off of a hearing ot trial until a later time.
contract: means any insurance contract or agreement whereby a person undertakes for a specified period of time and for a predetermined fee to furnish, arrange for or indemnify for service, repair, or replacement of any and all of the structural components, parts, appliances, or systems of any covered residential dwelling necessitated by wear and tear, deterioration, inherent defect, or by the failure of an inspection to detect the likelihood of failure. See Virginia Code 38.2-2600
Contractable condominium: means a condominium from which one or more portions of the submitted land may be withdrawn in accordance with the provisions of the declaration and of this chapter. See Virginia Code 55.1-1900
control: shall mean the possession, direct or indirect, of the power to direct or to cause the direction of the management or policies of a person, whether through the ownership of voting securities, by contract, arrangement or understanding, or otherwise. See Virginia Code 13.1-728.1
Control share acquisition: means the direct or indirect acquisition, other than in an excepted acquisition, by any person of beneficial ownership of shares of a public corporation that, except for this article, would have voting rights and would, when added to all other shares of such public corporation which then have voting rights and are beneficially owned by such person, would cause such person to become entitled, immediately upon acquisition of such shares, to vote or direct the vote of, shares having voting power within any of the following ranges of the votes entitled to be cast in an election of directors: (i) one-fifth or more but less than one-third of such votes; (ii) one-third or more but less than a majority of such votes; or (iii) a majority or more of such votes. See Virginia Code 13.1-728.1
Conversion: means a transaction pursuant to this article. See Virginia Code 13.1-722.8
Conversion condominium: means a condominium containing structures that before the recording of the declaration were wholly or partially occupied by persons other than those who have contracted for the purchase of condominium units and those who occupy with the consent of such purchasers. See Virginia Code 55.1-1900
Conversion time-share project: means a real estate improvement that, prior to the disposition of any time-share, was wholly or partially occupied by persons as their permanent residence or on a transient pay-as-you-go basis other than those who have contracted for the purchase of a time-share and those who occupy with the consent of such purchasers. See Virginia Code 55.1-2200
Converted entity: means the converting entity as it continues in existence after a conversion. See Virginia Code 13.1-722.8
Convertible land: means a portion of the common elements within which additional units or limited common elements may be created in accordance with the provisions of this chapter. See Virginia Code 55.1-1900
Convertible space: means a portion of a structure within the condominium that a declarant may convert into one or more units or common elements, including limited common elements, in accordance with the provisions of the declaration and this chapter. See Virginia Code 55.1-1900
Converting entity: means the domestic corporation or eligible entity that approves a plan of conversion pursuant to § Virginia Code 13.1-722.8
Conviction: A judgement of guilt against a criminal defendant.
Corporate action: means any action taken by or on behalf of the corporation, including any action taken by the incorporator, the board of directors, a committee, an officer or agent of the corporation, or the shareholders. See Virginia Code 13.1-614.1
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.
Corporation: includes any corporation and any domestic or foreign predecessor entity of a corporation in a merger or other transaction in which the predecessor's existence ceased upon consummation of the transaction. See Virginia Code 13.1-696
Corporation: means the domestic corporation that is the issuer of the shares held by a shareholder demanding appraisal and, for matters covered by §§ Virginia Code 13.1-729
Cost of ownership: means all of the owner's expenses related to a resale time-share due between the date of a resale transfer contract and the transfer of the resale time-share. See Virginia Code 55.1-2200
Counterclaim: A claim that a defendant makes against a plaintiff.
County: means any existing county or such unit hereafter created. See Virginia Code 15.2-102
Court: means the court of the Commonwealth having jurisdiction in matters related to trusts. See Virginia Code 64.2-701
Courts of record: means the Supreme Court of Virginia, the Court of Appeals of Virginia, and the circuit courts. See Virginia Code 1-212
Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. ^{Source: OCC}
Credit Score: A number, roughly between 300 and 800, that measures an individual's credit worthiness. The most well-known type of credit score is the FICO score. This score represents the answer from a mathematical formula that assigns numerical values to various pieces of information in your credit report. ^{Source: OCC}
Criminal history record information: means records and data collected by criminal justice agencies on adult individuals consisting of identifiable descriptions and notations of arrests, detentions, indictments, informations, or other formal charges, and any disposition arising therefrom. See Virginia Code 9.1-101
Criminal justice agency: includes any program certified by the Commission on VASAP pursuant to § Virginia Code 9.1-101
Current beneficiary: includes the holder of a presently exercisable general power of appointment but does not include a person that is a beneficiary only because the person holds any other power of appointment. See Virginia Code 64.2-701
Damage insurance: means a bond or commercial insurance coverage as specified in the rental agreement to secure the performance by the tenant of the terms and conditions of the rental agreement and to replace all or part of a security deposit. See Virginia Code 55.1-1200
Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
Date of the defective corporate action: means the date, or the approximate date if the exact date is unknown, the defective corporate action was purported to have been taken. See Virginia Code 13.1-614.1
Decanting power: means the power of an authorized fiduciary under the Uniform Trust Decanting Act (§ Virginia Code 64.2-701
Decedent: A deceased person.
Declarant: means the person or entity signing the declaration and its successors or assigns who may submit property to a declaration. See Virginia Code 55.1-1800
Declarant: means any person, or group of persons acting in concert, that (i) offers to dispose of its interest in a condominium unit not previously disposed of, including an institutional lender that may not have succeeded to or accepted any special declarant rights pursuant to § Virginia Code 55.1-1900
Declaration: includes any amendment or supplement to the instruments described in this definition. See Virginia Code 55.1-1800
Deed: The legal instrument used to transfer title in real property from one person to another.
Deed: means the instrument by which title to a time-share estate is transferred from one person to another person. See Virginia Code 55.1-2200
Deed of trust: means the instrument conveying the time-share estate that is given as security for the payment of the note. See Virginia Code 55.1-2200
Default: means either a failure to have made any payment in full and on time or a violation of a performance obligation required by a consumer document for a period of no less than 60 days. See Virginia Code 55.1-2200
Defective corporate action: means (i) any corporate action purportedly taken that is, and at the time such corporate action was purportedly taken would have been, within the power of the corporation, but is void or voidable due to a failure of authorization, or (ii) an over-issuance of shares. See Virginia Code 13.1-614.1
Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
Defense attorney: Represent defendants in criminal matters.
delivery: means any method of delivery used in conventional commercial practice, including delivery by hand, mail, commercial delivery, and, if authorized in accordance with § Virginia Code 13.1-603
Department: means the Department of Criminal Justice Services. See Virginia Code 9.1-101
Department: means the Department of Criminal Justice Services. See Virginia Code 9.1-185
Dependent: A person dependent for support upon another.
Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
Derivative proceeding: means a civil suit in the right of a domestic corporation or, to the extent provided in Article 8. See Virginia Code 13.1-603
Designated beneficiary: means a person designated to receive property in a transfer on death deed. See Virginia Code 64.2-621
Developer: means any person who offers, directly or indirectly, for disposition, any lot in a subdivision, but does not include a trustee under a deed of trust securing an indebtedness or other obligation who sells lots within such subdivision under foreclosure proceedings, provided that the purpose in so doing is not to evade the provisions of this chapter. See Virginia Code 55.1-2300
Developer: means any person or group of persons acting in concert that (i) offers to dispose of a time-share or its interest in a time-share unit for which there has not been a previous disposition or (ii) applies for registration of the time-share program. See Virginia Code 55.1-2200
Developer control period: means a period of time during which the developer or a managing agent selected by the developer manages and controls the time-share project and the common elements and units it comprises. See Virginia Code 55.1-2200
Development: means real property located within the Commonwealth subject to a declaration which contains both lots, at least some of which are residential or are occupied for recreational purposes, and common areas with respect to which any person, by virtue of ownership of a lot, is a member of an association and is obligated to pay assessments provided for in a declaration. See Virginia Code 55.1-1800
Development right: means any right reserved by the developer to create additional units that may be dedicated to the time-share program. See Virginia Code 55.1-2200
Developmental services: means the same as that term is defined in § Virginia Code 9.1-193
Devise: To gift property by will.
Disbursement of loan funds: means the delivery of the loan funds by the lender to the settlement agent in one or more of the following forms:
1. See Virginia Code 55.1-900
Disbursement of settlement proceeds: means the payment of all proceeds of the transaction by the settlement agent to the persons entitled to such proceeds. See Virginia Code 55.1-900
Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
Disinterested director: means , except with respect to Article 14 (§ Virginia Code 13.1-603
Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
disposition: refers to any voluntary transfer of a legal or equitable interest in a condominium unit to a purchaser, but does not include the transfer or release of security for a debt. See Virginia Code 55.1-1900
disposition: means a transfer of a legal or equitable interest in a time-share, other than a transfer or release of security for a debt. See Virginia Code 55.1-2200
Distribution: means a direct or indirect transfer of cash or other property, except the corporation's own shares, or incurrence of indebtedness by a corporation to or for the benefit of its shareholders in respect of any of its shares. See Virginia Code 13.1-603
Distribution formula: means that linear equation derived biennially by the Department, using standard statistical procedures, which best predicts average crime rates in all cities and eligible counties in the Commonwealth on the basis of the following factors in their simplest form:
1. See Virginia Code 9.1-165
Document: means (i) any tangible medium on which information is inscribed, and includes handwritten, typed, printed, or similar instruments and copies of such instruments, or (ii) an electronic record. See Virginia Code 13.1-603
domestic corporation: means a corporation authorized by law to issue shares, irrespective of the nature of the business to be transacted, organized under this chapter or existing pursuant to the laws of the Commonwealth on January 1, 1986, or which, by virtue of articles of incorporation, amendment, or merger, has become a domestic corporation of the Commonwealth, even though also being a corporation organized under laws other than the laws of the Commonwealth, or that has become a domestic corporation of the Commonwealth pursuant to Article 12. See Virginia Code 13.1-603
Domestic partnership: means an association of two or more persons to carry on as co-owners a business for profit formed under § Virginia Code 13.1-603
Domesticated corporation: means the domesticating corporation as it continues in existence after a domestication. See Virginia Code 13.1-722.1:1
Domesticating corporation: means the domestic corporation that approves a plan of domestication pursuant to § Virginia Code 13.1-722.1:1
Domestication: means a transaction pursuant to this article, including domestication of a foreign corporation as a domestic corporation or domestication of a domestic corporation in another jurisdiction, where the other jurisdiction authorizes such a transaction even if by another name. See Virginia Code 13.1-722.1:1
Donee: The recipient of a gift.
Donor: The person who makes a gift.
Dwelling unit: means a structure or part of a structure that is used as a home or residence by one or more persons who maintain a household, including a manufactured home, as defined in § Virginia Code 55.1-1200
Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See Virginia Code 13.1-603
Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
Electronic means: means any form of communication, not directly involving the physical transmission of paper, that creates a record that may be retained, retrieved, and reviewed by a recipient of such communication. See Virginia Code 55.1-1800
Electronic means: means any form of communication, not directly involving the physical transmission of paper, that creates a record that may be retained, retrieved, and reviewed by a recipient of such communication. See Virginia Code 55.1-1900
Electronic record: means information that is stored in an electronic or other nontangible medium and is retrievable in paper form through an automated process used in conventional commercial practice, unless otherwise authorized in accordance with subdivision A 10 of § Virginia Code 13.1-603
electronically transmitted: means any form or process of communication, not directly involving the physical transfer of paper or another tangible medium, that (i) is suitable for the retention, retrieval, and reproduction of information by the recipient, and (ii) is retrievable in paper form by the recipient through an automated process used in conventional commercial practice, unless otherwise authorized in accordance with subdivision A 10 of § Virginia Code 13.1-603
Eligible county: means any county which operates a police department. See Virginia Code 9.1-165
Eligible entity: means a domestic or foreign unincorporated entity or a domestic or foreign nonstock corporation. See Virginia Code 13.1-603
Eligible interests: means interests or memberships. See Virginia Code 13.1-603
Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. ^{Source: OCC}
Employee: includes , unless otherwise provided in the bylaws, an officer but not a director. See Virginia Code 13.1-603
Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
Entity: includes any domestic or foreign corporation; any domestic or foreign nonstock corporation; any domestic or foreign unincorporated entity; any estate or trust; and any state, the United States and any foreign government. See Virginia Code 13.1-603
Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
Escrow: Money given to a third party to be held for payment until certain conditions are met.
Escrow: means written instruments, money, or other items deposited by a party with a settlement agent for delivery to other persons upon the performance of specified conditions or the happening of a certain event. See Virginia Code 55.1-1000
Essential service: includes heat, running water, hot water, electricity, and gas. See Virginia Code 55.1-1200
Excepted acquisition: means the acquisition of shares of a public corporation in any of the following circumstances:
1. See Virginia Code 13.1-728.1
exchange company: means a person that exchanges or offers to exchange time-shares in an exchange program with other time-shares. See Virginia Code 55.1-2200
Exchange program: means any opportunity or procedure for the assignment or exchange of time-shares among owners in other time-share programs as evidenced by a past or present written agreement executed between an exchange company and the developer or the time-share estate association; however, an "exchange program" shall not be either an incidental benefit or an opportunity or procedure by which a time-share owner can exchange his time-share for another time-share within either the same time-share project or another time-share project owned in part by the developer. See Virginia Code 55.1-2200
Executive board: means an executive and administrative entity, by whatever name denominated, designated in the condominium instruments as the governing body of the unit owners' association. See Virginia Code 55.1-1900
Executive session: A portion of the Senate's daily session in which it considers executive business.
Executor: A male person named in a will to carry out the decedent
Expandable condominium: means a condominium to which additional land may be added in accordance with the provisions of the declaration and this chapter. See Virginia Code 55.1-1900
Expenses: means reasonable expenses of any kind that are incurred in connection with a matter. See Virginia Code 13.1-603
Experience rating: means a statistical procedure utilizing past risk experience to produce a prospective premium credit, debit, or unity modification. See Virginia Code 38.2-1901
Facility: means something that is built, constructed, installed, or established to perform some particular function. See Virginia Code 55.1-1200
Failure of authorization: means the failure to authorize, approve, or otherwise effect a corporate action in compliance with the provisions of this chapter, the articles of incorporation or bylaws, a corporate resolution, or any plan or agreement to which the corporation is a party, if and to the extent such failure would render such corporate action voidable. See Virginia Code 13.1-614.1
Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. ^{Source: OCC}
Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
Fair value: means the value of the corporation's shares determined:
1. See Virginia Code 13.1-729
farm: means any person that obtains at least 51 percent of its annual gross income from agricultural operations and produces the agricultural waste used as feedstock for the waste-to-energy technology, (ii) "agricultural waste" means biomass waste materials capable of decomposition that are produced from the raising of plants and animals during agricultural operations, including animal manures, bedding, plant stalks, hulls, and vegetable matter, and (iii) "waste-to-energy technology" means any technology, including but not limited to a methane digester, that converts agricultural waste into gas, steam, or heat that is used to generate electricity on-site. See Virginia Code 1-222.1
Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
Fiduciary: A trustee, executor, or administrator.
Fiduciary: includes a guardian, committee, trustee, executor, conservator, or personal representative. See Virginia Code 64.2-100
Filing entity: means an unincorporated entity other than a general partnership. See Virginia Code 13.1-603
First trust: means a trust over which an authorized fiduciary may exercise the decanting power. See Virginia Code 64.2-701
Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
Foreign corporation: means a corporation authorized by law to issue shares, organized under laws other than the laws of the Commonwealth. See Virginia Code 13.1-603
Foreign nonstock corporation: means a corporation that is incorporated under a law other than the law of the Commonwealth and would, based on its public organic record, be a nonstock corporation if incorporated under the law of the Commonwealth. See Virginia Code 13.1-603
Foreign partnership: means an association of two or more persons to carry on as co-owners of a business for profit formed under the laws of any state or jurisdiction other than the Commonwealth, and includes, for all purposes of the laws of the Commonwealth, a foreign registered limited liability partnership. See Virginia Code 13.1-603
Foreign unincorporated entity: means a foreign partnership, foreign limited liability company, foreign limited partnership, or foreign business trust. See Virginia Code 13.1-603
Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. ^{Source: OCC}
Fronting company: means a licensed insurer or licensed home protection company which generally transfers to one or more unlicensed insurers or unlicensed home protection companies by reinsurance or otherwise all or substantially all of the risk of loss under all of the home protection contracts written by it in this Commonwealth. See Virginia Code 38.2-2600
Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
General power of appointment: means a power of appointment exercisable in favor of a powerholder, the powerholder's estate, a creditor of the powerholder, or a creditor of the powerholder's estate. See Virginia Code 64.2-701
Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
Good faith: means honesty in fact in the conduct of the transaction concerned. See Virginia Code 55.1-1200
Governing body: means the board of supervisors of a county, council of a city, or council of a town, as the context may require. See Virginia Code 15.2-102
Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. ^{Source: Federal Reserve}
Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
Grantor: The person who establishes a trust and places property into it.
Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
Guest or invitee: means a person, other than the tenant, who has the permission of the tenant to visit but not to occupy the premises. See Virginia Code 55.1-1300
Guest or invitee: means a person, other than the tenant or an authorized occupant, who has the permission of the tenant to visit but not to occupy the premises. See Virginia Code 55.1-1200
Health services plan: means any arrangement for offering or administering health services or similar or related services by a corporation licensed under Virginia Code 38.2-100
Heirs: means those persons, including the surviving spouse, who are entitled under the laws of intestate succession to the property of a decedent. See Virginia Code 64.2-612
Home protection company: means any person who performs, or arranges to perform, services pursuant to a home protection insurance contract. See Virginia Code 38.2-2600
Identifying number: means one or more letters or numbers that identify only one unit in the condominium. See Virginia Code 55.1-1900
in writing: include any representation of words, letters, symbols, numbers, or figures, whether (i) printed or inscribed on a tangible medium or (ii) stored in an electronic or other medium and retrievable in a perceivable form and whether an electronic signature authorized by Virginia Code 1-257
Incidental benefit: means anything valued in excess of $100 provided by the developer that is acquired by a purchaser upon acquisition of a time-share and includes exchange rights, travel insurance, bonus weeks, upgrade entitlements, travel coupons, referral awards, and golf and tennis packages. See Virginia Code 55.1-2200
Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
Individual: means a natural person. See Virginia Code 13.1-603
inhabitants: means with reference to any county, city, town, political subdivision of the Commonwealth or any combination thereof, the natural persons in such county, city, town, political subdivision or combination as shown by the unadjusted United States decennial census last preceding the time at which any provision dependent upon population is being applied or the time as of which it is being construed. See Virginia Code 1-235
Inherent risks of project activity: means those dangers or conditions that are an integral part of a project activity, including certain hazards, such as surface and subsurface conditions; natural conditions of land, vegetation, and waters; the behavior of wild or domestic animals; and ordinary dangers of structures or equipment ordinarily used in association or time-share project operations. See Virginia Code 55.1-2200
Institutional lender: means one or more commercial or savings banks, savings and loan associations, trust companies, credit unions, industrial loan associations, insurance companies, pension funds, or business trusts, including real estate investment trusts, any other lender regularly engaged in financing the purchase, construction, or improvement of real estate, or any assignee of loans made by such a lender, or any combination of any of the foregoing entities. See Virginia Code 55.1-1900
Insurance company: means any company engaged in the business of making contracts of insurance. See Virginia Code 38.2-100
insurance policies: shall include contracts of fidelity, indemnity, guaranty and suretyship. See Virginia Code 38.2-100
Insurer: means an insurance company. See Virginia Code 38.2-100
Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
Inter vivos: Transfer of property from one living person to another living person.
Interest: means either or both of the following rights under the organic law governing an unincorporated entity:
1. See Virginia Code 13.1-603
Interest: means interest from the date the corporate action becomes effective until the date of payment, at the average rate currently paid by the corporation on its principal bank loans or, if none, at a rate that is fair and equitable under all the circumstances. See Virginia Code 13.1-729
Interest holder: means a person who holds of record an interest. See Virginia Code 13.1-603
Interest holder liability: means :
1. See Virginia Code 13.1-603
Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
Interested person: means a person, or an affiliate of a person, who at any time during the one-year period immediately preceding approval by the board of directors of the corporate action:
a. See Virginia Code 13.1-729
Interested shares: means the shares of a public corporation the voting of which in an election of directors may be exercised or directed by any of the following persons: (i) an acquiring person with respect to a control share acquisition; (ii) any officer of such public corporation; or (iii) any employee of such public corporation who is also a director of the corporation. See Virginia Code 13.1-728.1
Interested transaction: means a corporate action described in subsection A of § Virginia Code 13.1-729
Interests of the beneficiaries: means the beneficial interests provided in the terms of the trust. See Virginia Code 64.2-701
Interior of the dwelling unit: means the inside of the dwelling unit, consisting of interior walls, floor, and ceiling, that enclose the dwelling unit as conditioned space from the outside air. See Virginia Code 55.1-1200
Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
Intestate: Dying without leaving a will.
issuer: means the person or persons performing the acts and assuming the duties of manager;
2. See Virginia Code 13.1-501
Joint owner: includes a joint tenant with the right of survivorship and tenant by the entirety with the right of survivorship. See Virginia Code 64.2-621
Judgement: The official decision of a court finally determining the respective rights and claims of the parties to a suit.
Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
Jurisdiction of formation: means the state or country the law of which includes the organic law governing a domestic or foreign corporation or eligible entity. See Virginia Code 13.1-603
Juror: A person who is on the jury.
Land: is a three-dimensional concept and includes parcels with upper or lower boundaries, or both upper and lower boundaries, as well as parcels extending ab solo usque ad coelum. See Virginia Code 55.1-1500
Land: is a three-dimensional concept and includes parcels with upper or lower boundaries, or both upper and lower boundaries, as well as parcels extending ab solo usque ad coelum. See Virginia Code 55.1-1900
Landlord: means the manufactured home park owner or the lessor or sublessor of a manufactured home park. See Virginia Code 55.1-1300
Landlord: means the owner, lessor, or sublessor of the dwelling unit or the building of which such dwelling unit is a part. See Virginia Code 55.1-1200
Law-enforcement officer: means any full-time or part-time employee of a police department or sheriff's office which is a part of or administered by the Commonwealth or any political subdivision thereof, or any full-time or part-time employee of a private police department, and who is responsible for the prevention and detection of crime and the enforcement of the penal, traffic or highway laws of the Commonwealth, and shall include any (i) special agent of the Virginia Alcoholic Beverage Control Authority; (ii) police agent appointed under the provisions of § 56-353; (iii) officer of the Virginia Marine Police; (iv) conservation police officer who is a full-time sworn member of the enforcement division of the Department of Wildlife Resources; (v) investigator who is a sworn member of the security division of the Virginia Lottery; (vi) conservation officer of the Department of Conservation and Recreation commissioned pursuant to § Virginia Code 9.1-101
Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
Lay real estate settlement agent: means a person who (i) is not licensed as an attorney under Chapter 39 of Virginia Code 55.1-1000
Lead dealer: means a person that sells or otherwise provides to any other person contact information concerning five or more owners to be used for a resale service. See Virginia Code 55.1-2200
Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
lease agreement: means all rental agreements, written or oral, and valid rules and regulations adopted under § Virginia Code 55.1-1200
Leasehold condominium: means a condominium in all or any portion of which each unit owner owns an estate for years in his unit, or in the land within which that unit is situated, or both, with all such leasehold interests due to expire naturally at the same time. See Virginia Code 55.1-1900
Legacy: A gift of property made by will.
Legatee: A beneficiary of a decedent
Lender: means any person regularly engaged in making loans secured by mortgages or deeds of trust on real estate. See Virginia Code 55.1-900
Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Liability: means the obligation to pay a judgment, settlement, penalty, fine, including any excise tax assessed with respect to an employee benefit plan, or expenses incurred with respect to a proceeding. See Virginia Code 13.1-696
Licensing authority: means the (i) Commission acting pursuant to this chapter, Virginia Code 55.1-1000
Lien: A claim against real or personal property in satisfaction of a debt.
Lien holder: means either a person that holds an interest in an encumbrance that is not released of record as to a purchaser or such person's successor in interest that acquires title to the time-share project at foreclosure, by deed in lieu of foreclosure, or by any other instrument however denominated. See Virginia Code 55.1-2200
Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
Limited common element: means a portion of the common elements reserved for the exclusive use of those entitled to the use of one or more, but less than all, of the units. See Virginia Code 55.1-1900
Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
Loan closing: means the time agreed upon by the borrower and lender, when the execution of the loan documents by the borrower occurs. See Virginia Code 55.1-900
Loan documents: means the note evidencing the debt due the lender, the deed of trust, or the mortgage securing the debt due the lender and any other documents required by the lender to be executed by the borrower as a part of the transaction. See Virginia Code 55.1-900
Loan funds: means the gross or net proceeds of the loan to be disbursed by the lender at loan closing. See Virginia Code 55.1-900
local government: shall be construed to mean a county, city, or town as the context may require. See Virginia Code 15.2-102
Lot: means any unit, parcel, division, piece of land, or interest in land except utility easements if such interest carries with it the exclusive right to use a specific portion of property. See Virginia Code 55.1-2300
Lot: means (i) any plot or parcel of land designated for separate ownership or occupancy shown on a recorded subdivision plat for a development or the boundaries of which are described in the declaration or in a recorded instrument referred to or expressly contemplated by the declaration, other than a common area, and (ii) a unit in a condominium association or a unit in a real estate cooperative if the condominium or cooperative is a part of a development. See Virginia Code 55.1-1800
Lot owner: means one or more persons who own a lot, including any purchaser of a lot at a foreclosure sale, regardless of whether the deed is recorded in the land records where the lot is located. See Virginia Code 55.1-1800
Managing agent: means the person authorized by the landlord to act as the property manager on behalf of the landlord pursuant to the written property management agreement. See Virginia Code 55.1-1200
Managing agent: means a person that undertakes the duties, responsibilities, and obligations of the management of a time-share project. See Virginia Code 55.1-2200
Managing entity: means the managing agent or, if there is no managing agent, the time-share owners' association in a time-share estate project and the developer in a time-share use project. See Virginia Code 55.1-2200
Manufactured home: means a structure, transportable in one or more sections, that in the traveling mode is eight body feet or more in width or 40 body feet or more in length, or, when erected on site, is 320 or more square feet, and that is built on a permanent chassis and designed to be used as a dwelling with or without a permanent foundation when connected to the required utilities, and includes the plumbing, heating, air-conditioning, and electrical systems contained in the structure. See Virginia Code 55.1-1300
Manufactured home lot: means a parcel of land within the boundaries of a manufactured home park provided for the placement of a single manufactured home and the exclusive use of its occupants. See Virginia Code 55.1-1300
Manufactured home park: means a parcel of land under single or common ownership upon which five or more manufactured homes are located on a continual, nonrecreational basis together with any structure, equipment, road, or facility intended for use incidental to the occupancy of the manufactured homes. See Virginia Code 55.1-1300
Manufactured home park operator: means a person employed or contracted by a manufactured home park owner or landlord to manage a manufactured home park. See Virginia Code 55.1-1300
Manufactured home park owner: means a person who owns land that accommodates a manufactured home park. See Virginia Code 55.1-1300
Marcus alert system: means the same as that term is defined in § Virginia Code 9.1-193
Market segment: means any line or class of insurance or, if it is described in general terms, any subdivision of insurance or any class of risks or combination of classes. See Virginia Code 38.2-1901
Material change: means a change in any information or document disclosed in or attached to the public offering statement that renders inaccurate, incomplete, or misleading any information or document in such a way as to affect substantially a purchaser's rights or obligations, but does not include a change (i) in the real estate tax assessment or rate, utility charges or deposits, maintenance fees, association dues, assessments, special assessments, or any recurring time-share expense item, provided that such change is made known (a) immediately to the prospective purchaser by a written addendum in the public offering statement and (b) to the Board by filing with the developer's annual report copies of the updated changes occurring over the immediately preceding 12 months; (ii) that is an aspect or result of the orderly development of the time-share project in accordance with the time-share instrument; (iii) resulting from new, updated, or amended information contained in the annual report prepared and distributed pursuant to § Virginia Code 55.1-2200
Medicare: means the "Health Insurance for the Aged Act" Title XVIII of the Social Security Amendment of 1965, as amended. See Virginia Code 38.2-100
Member: means an individual who has been accepted for membership in, and owns a membership share issued by, a worker cooperative. See Virginia Code 13.1-346
Membership: means the rights of a member in a domestic or foreign nonstock corporation or limited liability company. See Virginia Code 13.1-603
Membership fee: means an initial payment, if required by the articles of incorporation or bylaws of the worker cooperative, made by a worker to a worker cooperative as a condition of becoming a member. See Virginia Code 13.1-346
Merger: means a transaction pursuant to § Virginia Code 13.1-603
Merger: means a business combination pursuant to § Virginia Code 13.1-715.1
Mobile crisis response: means the same as that term is defined in § Virginia Code 9.1-193
Mold remediation in accordance with professional standards: means mold remediation of that portion of the dwelling unit or premises affected by mold, or any personal property of the tenant affected by mold, performed consistent with guidance documents published by the U. See Virginia Code 55.1-1200
Month: means a calendar month and "year" means a calendar year. See Virginia Code 1-223
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
Mortgagee: The person to whom property is mortgaged and who has loaned the money.
Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
Multifamily dwelling unit: means more than one single-family dwelling unit located in a building. See Virginia Code 55.1-1200
National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
New interest holder liability: means interest holder liability of a person, resulting from a merger or share exchange, that is (i) in respect of an entity which is different from the entity in which the person held shares or eligible interests immediately before the merger or share exchange became effective or (ii) in respect of the same entity as the one in which the person held shares or eligible interests immediately before the merger or share exchange became effective if (a) the person did not have interest holder liability immediately before the merger or share exchange became effective or (b) the person had interest holder liability immediately before the merger or share exchange became effective, the terms and conditions of which were changed when the merger or share exchange became effective. See Virginia Code 13.1-715.1
Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
Nonbinding reservation agreement: means an agreement between the declarant and a prospective purchaser that is in no way binding on the prospective purchaser and that may be canceled without penalty at the sole discretion of the prospective purchaser. See Virginia Code 55.1-1900
nonresidential tenancy: means the rental of any real estate for purposes other than residential use, including business, industrial, or agricultural purposes. See Virginia Code 55.1-1400
Notary: means notary public. See Virginia Code 1-226
Note: means the instrument that evidences the debt occasioned by the deferred purchase of a time-share. See Virginia Code 55.1-2200
Notice: means notice given in writing by either regular mail or hand delivery, with the sender retaining sufficient proof of having given such notice in the form of a certificate of service confirming such mailing prepared by the sender. See Virginia Code 55.1-1200
Notification: means a statement acknowledging that the purchaser has been advised of any disclosures required by this chapter on the Real Estate Board's website or delivery of any such disclosures to the purchaser. See Virginia Code 55.1-700
Oath: A promise to tell the truth.
Oath: includes affirmation. See Virginia Code 1-228
Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Obligee: means any person or entity to whom a residential ground rent is owed. See Virginia Code 55.1-1500
Obligor: means one or more individuals who are obligated to pay a residential ground rent. See Virginia Code 55.1-1500
Offer: means any inducement, solicitation, or attempt to encourage any person to acquire any legal or equitable interest in a condominium unit, except as security for a debt. See Virginia Code 55.1-1900
offer: means any act that originates in the Commonwealth to sell, solicit, induce, or advertise, whether by radio, television, telephone, newspaper, magazine, or mail, during which a person is given an opportunity to acquire a time-share. See Virginia Code 55.1-2200
officer: includes , unless the context requires otherwise, the estate or personal representative of a director or officer. See Virginia Code 13.1-696
Officer: means any member of the executive board or official of the unit owners' association. See Virginia Code 55.1-1900
Official capacity: means (i) when used with respect to a director, the office of director in a corporation and (ii) when used with respect to an officer, as contemplated in § Virginia Code 13.1-696
Organic law: means the statute governing the internal affairs of a domestic or foreign corporation or eligible entity. See Virginia Code 13.1-603
Organic rules: means the public organic record and private organic rules of a domestic or foreign corporation or eligible entity. See Virginia Code 13.1-603
Organization: means a corporation, government, governmental subdivision or agency, business trust, estate, trust, partnership, or association; two or more persons having a joint or common interest; any combination thereof; and any other legal or commercial entity. See Virginia Code 55.1-1200
Over-issuance of shares: means the purported issuance of:
1. See Virginia Code 13.1-614.1
Oversight: Committee review of the activities of a Federal agency or program.
Owner: includes a mortgagee in possession. See Virginia Code 55.1-1300
Owner: means one or more persons or entities, jointly or severally, including a mortgagee in possession, in whom is vested:
1. See Virginia Code 55.1-1200
owner: means a person that is an owner or co-owner of a time-share other than as security for an obligation. See Virginia Code 55.1-2200
Par value: means a number of dollars or points assigned to each unit by the declaration. See Virginia Code 55.1-1900
Participant: means any person, other than a project professional, that engages in a project activity. See Virginia Code 55.1-2200
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.
Party: means an individual who was, is, or is threatened to be made a defendant or respondent in a proceeding. See Virginia Code 13.1-696
Party to a merger: means any domestic or foreign corporation or eligible entity that will merge under a plan of merger. See Virginia Code 13.1-715.1
Party to a share exchange: means any domestic or foreign corporation or eligible entity that is an acquired entity or an acquiring entity under a plan of share exchange. See Virginia Code 13.1-715.1
Party to the real estate transaction: means , with respect to that real estate transaction, a lender, seller, purchaser, or borrower and, with respect to a corporate purchaser, any entity that is a subsidiary of or under common ownership with that corporate purchaser. See Virginia Code 55.1-1000
Patronage: means the amount of work performed for a worker cooperative, measured in accordance with criteria set forth in the articles of incorporation or bylaws of the worker cooperative. See Virginia Code 13.1-346
Per stirpes: The legal means by which the children of a decedent, upon the death of an ancestor at a level above that of the decedent, receive by right of representation the share of the ancestor
Person: means any association, aggregate of individuals, business, company, corporation, individual, joint-stock company, Lloyds type of organization, organization, partnership, receiver, reciprocal or interinsurance exchange, trustee or society. See Virginia Code 38.2-100
Person: means any individual, corporation, government or governmental agency, business trust, estate, trust, partnership, unincorporated association, two or more of any of the foregoing having a joint or common interest, or any other legal or commercial entity. See Virginia Code 55.1-2300
Person: includes an individual and an entity. See Virginia Code 13.1-603
Person: includes an associate of any person. See Virginia Code 13.1-728.1
Person: means any individual, group of individuals, corporation, partnership, business trust, association, or other legal entity, or any combination thereof. See Virginia Code 55.1-1200
Person: means a natural person, corporation, partnership, association, trust, or other entity capable of holding title to real property, or any combination thereof. See Virginia Code 55.1-1900
person: means the beneficiary of the trust rather than the trust or the trustee. See Virginia Code 55.1-2100
Person: means one or more natural persons, corporations, partnerships, associations, trustees of a trust, limited liability companies, or other entities, or any combination thereof, capable of holding title to real property. See Virginia Code 55.1-2200
Person: means an individual; estate; business or nonprofit entity; government; governmental subdivision, agency, or instrumentality; public corporation; or other legal entity. See Virginia Code 64.2-701
Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Virginia Code 64.2-621
Personal property: All property that is not real property.
Personal representative: includes the executor under a will or the administrator of the estate of a decedent, the administrator of such estate with the will annexed, the administrator of such estate unadministered by a former representative, whether there is a will or not, any person who is under the order of a circuit court to take into his possession the estate of a decedent for administration, and every other curator of a decedent's estate, for or against whom suits may be brought for causes of action that accrued to or against the decedent. See Virginia Code 64.2-100
Personal representative: includes an executor, administrator, successor, personal representative, special administrator, and a person who performs substantially the same function under the law governing his status. See Virginia Code 64.2-612
Personal representative: includes the executor of a will or the administrator of the estate of a decedent, the administrator of such estate with the will annexed, the administrator of such estate unadministered by a former representative, whether there is a will or not, any person who is under the order of a circuit court to take into his possession the estate of a decedent for administration, and every other curator of a decedent's estate, for or against whom suits may be brought for causes of action that accrued to or against the decedent. See Virginia Code 1-234
Plaintiff: The person who files the complaint in a civil lawsuit.
Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
Police department: means that organization established by ordinance by a local governing body that is responsible for the prevention and detection of crime, the apprehension of criminals, the safeguard of life and property, the preservation of peace and the enforcement of state and local laws, regulations, and ordinances. See Virginia Code 9.1-165
Population served by police departments: means the total base year population of the Commonwealth less the population served by sheriffs only. See Virginia Code 9.1-165
Population served by sheriffs only: means the total base year population of those counties without a police department, less the latest available estimate from the United States Bureau of the Census of the total population of towns, or portions of towns, having police departments, located in such counties. See Virginia Code 9.1-165
Possibility of reverter: means a provision contained in a reverter deed by which the time-share estate automatically reverts or transfers back to the developer upon satisfaction of the requirements imposed by § Virginia Code 55.1-2200
Potential crime rate: means the number of crimes per 100,000 persons in the base year population for each city or eligible county, as derived from the distribution formula. See Virginia Code 9.1-165
Power of appointment: means a power that enables a powerholder acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over the appointive property. See Virginia Code 64.2-701
Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
Power of direction: means a power over a trust granted to a person by the terms of the trust to the extent the power is exercisable while the person is not serving as a trustee. See Virginia Code 64.2-701
Powerholder: means a person in which a donor creates a power of appointment. See Virginia Code 64.2-701
Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
Preferred shares: means a class or series of shares whose holders have preference over any other class or series of shares with respect to distributions. See Virginia Code 13.1-729
Preliminary hearing: A hearing where the judge decides whether there is enough evidence to make the defendant have a trial.
Premises: means a dwelling unit and the structure of which it is a part, facilities and appurtenances contained therein, and grounds, areas, and facilities held out for the use of tenants generally or whose use is promised to the tenant. See Virginia Code 55.1-1200
Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
Principal broker: means the same as that term is defined in regulations promulgated by the Real Estate Board. See Virginia Code 55.1-1100
Principal office: means the office, in or out of the Commonwealth, where the principal executive offices of a domestic or foreign corporation are located, or, if there are no such offices, the office, in or out of the Commonwealth, so designated by the board of directors. See Virginia Code 13.1-603
Private organic rules: means (i) the bylaws of a domestic or foreign corporation or nonstock corporation or (ii) the rules, regardless of whether in writing, that govern the internal affairs of an unincorporated entity, are binding on all its interest holders, and are not part of its public organic record. See Virginia Code 13.1-603
Pro se: A Latin term meaning "on one's own behalf"; in courts, it refers to persons who present their own cases without lawyers.
Probate: Proving a will
Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
Proceeding: includes civil suit and criminal, administrative, and investigatory action. See Virginia Code 13.1-603
Proceeding: means any threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, arbitrative, or investigative and whether formal or informal. See Virginia Code 13.1-696
Product: means each time-share program and all alternative purchases. See Virginia Code 55.1-2200
Professional employer services: means services provided to a client company pursuant to a written agreement with a professional employer organization, including, at a minimum, the payment of wages of the coemployees, the reservation of the right of direction and control over the coemployees, and the responsibility for the withholding and payment of payroll taxes of the coemployees. See Virginia Code 38.2-1901
program: means any arrangement of time-shares in one or more time-share projects by which the use, occupancy, or possession of real property has been made subject to either a time-share estate or time-share use in which such use, occupancy, or possession circulates among owners of the time-shares according to a fixed or floating time schedule on a periodic basis occurring over any period of time in excess of five years. See Virginia Code 55.1-2200
project: means all of the real property subject to a time-share program created by the execution of a time-share instrument. See Virginia Code 55.1-2200
Project activity: includes swimming pools, spas, sporting venues, and cultural, historical, or harvest-your-own activities; other amenities and events; or natural activities and attractions for recreational, entertainment, educational, or social purposes. See Virginia Code 55.1-2200
project instrument: means any document, however denominated, that creates the time-share project and program and that may contain restrictions or covenants regulating the use, occupancy, or disposition of time-shares in a project. See Virginia Code 55.1-2200
Project professional: means any person that is engaged in the business of providing one or more project activities, whether or not for compensation. See Virginia Code 55.1-2200
Property: means anything that may be the subject of ownership, whether real or personal, legal or equitable, or any interest therein. See Virginia Code 64.2-701
Property: includes both real and personal property or any interest therein and means anything that may be the subject of ownership. See Virginia Code 64.2-612
Property: means an interest in real property located in the Commonwealth that is transferable on the death of the owner. See Virginia Code 64.2-621
Property bail bondsman: means a person licensed pursuant to this article who, for compensation, enters into a bond or does so through his agent and who pledges real property, cash or certificates of deposit issued by a federally insured institution, or any combination thereof as security for a bond as defined in § Virginia Code 9.1-185
Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
Prospective loss costs: means historical aggregate losses and loss adjustment expenses projected through development to their ultimate value and through trending to a future point in time. See Virginia Code 38.2-1901
Public corporation: means a corporation that has shares listed on a national securities exchange or regularly traded in a market maintained by one or more members of a national or affiliated securities association. See Virginia Code 13.1-603
Public corporation: means the Commonwealth of Virginia or any political subdivision thereof or any incorporated municipality therein or any public agency of the Commonwealth or of any political subdivision thereof or of any municipality therein. See Virginia Code 1-219.1
Public defender: Represent defendants who can't afford an attorney in criminal matters.
Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
Public offering statement: means the statement required by § Virginia Code 55.1-2200
Public organic record: means (i) the articles of incorporation of a domestic or foreign corporation or nonstock corporation or (ii) the document, the filing of which is required to create an unincorporated entity. See Virginia Code 13.1-603
Purchaser: means a person who acquires or attempts to acquire any lot in a subdivision. See Virginia Code 55.1-2300
Purchaser: means any person, other than a declarant, that acquires by means of a voluntary transfer a legal or equitable interest in a condominium unit, other than (i) a leasehold interest, including renewal options, of less than 20 years or (ii) as security for a debt. See Virginia Code 55.1-1900
Purchaser: means any person other than a developer or lender that owns or acquires a product or that otherwise enters into a contract for the purchase of a product. See Virginia Code 55.1-2200
Putative shares: means the shares of any class or series of the corporation, including shares issued upon exercise of rights, options, warrants, or other securities convertible into shares of the corporation, or interests with respect to such shares, that were created or issued as a result of a defective corporate action, that (i) but for any failure of authorization would constitute valid shares or (ii) cannot be determined by the board of directors to be valid shares. See Virginia Code 13.1-614.1
Qualified beneficiary: means a beneficiary who, on the date the beneficiary's qualification is determined, (i) is a distributee or permissible distributee of trust income or principal; (ii) would be a distributee or permissible distributee of trust income or principal if the interests of the distributees described in clause (i) terminated on that date without causing the trust to terminate; or (iii) would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date. See Virginia Code 64.2-701
Quorum: The number of legislators that must be present to do business.
Rate service organization: means any entity, including its affiliates or subsidiaries, which either has two or more member insurers or is controlled either directly or indirectly by two or more insurers, other than a joint underwriting association under § Virginia Code 38.2-1901
Rate service organization: means any organization or person, other than a joint underwriting association under § Virginia Code 38.2-100
rates: means any rate of premium, policy fee, membership fee or any other charge made by an insurer for or in connection with a contract or policy of insurance. See Virginia Code 38.2-100
Ratification: means the full execution of a real estate purchase contract by all parties. See Virginia Code 55.1-700
Readily accessible: means areas within the interior of the dwelling unit available for observation at the time of the move-in inspection that do not require removal of materials, personal property, equipment, or similar items. See Virginia Code 55.1-1200
Real estate: includes (i) parcels with or without upper or lower boundaries and (ii) spaces that may be filled with air or water. See Virginia Code 55.1-2100
real estate: includes lands, tenements and hereditaments, and all rights and appurtenances thereto and interests therein, other than a chattel interest. See Virginia Code 1-219
Real estate contract: means a contract for the sale, exchange, or lease with the option to buy of residential real estate subject to this chapter. See Virginia Code 55.1-700
Real Estate Settlement Procedures Act: Federal law that, among other things, requires lenders to provide "good faith" estimates of settlement costs and make other disclosures regarding the mortgage loan. RESPA also limits the amount of funds held in escrow for real estate taxes and insurance. ^{Source: OCC}
Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Reasonable charges in addition to rent: means any routine maintenance and utility charges for which the tenant is liable under the rental agreement. See Virginia Code 55.1-1300
Reasonably definite standard: means a clearly measurable standard under which a holder of a power of distribution is legally accountable within the meaning of § 674(b)(5)(A) of the Internal Revenue Code of 1986 and any applicable regulations. See Virginia Code 64.2-701
Recess: A temporary interruption of the legislative business.
Reciprocal: means the aggregation of subscribers under a common name. See Virginia Code 38.2-1201
Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Virginia Code 64.2-701
Record date: means the date fixed for determining the identity of the corporation's shareholders and their shareholdings for purposes of this chapter. See Virginia Code 13.1-603
Record shareholder: means (i) the person in whose name shares are registered in the records of the corporation or (ii) the person identified as the beneficial owner of shares in a beneficial ownership certificate pursuant to § Virginia Code 13.1-603
Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
Registering entity: means a person who originates or transfers a security title by registration, and includes a broker maintaining security accounts for customers and a transfer agent or other person acting for or as an issuer of securities. See Virginia Code 64.2-612
Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
Rent: means payments made by the tenant to the landlord for use of a manufactured home lot and other facilities or services provided by the landlord. See Virginia Code 55.1-1300
Rent: means all money, other than a security deposit, owed or paid to the landlord under the rental agreement, including prepaid rent paid more than one month in advance of the rent due date. See Virginia Code 55.1-1200
Rental agreement: means any agreement, written or oral, and valid rules and regulations adopted in conformance with § Virginia Code 55.1-1300
Rental application: means the written application or similar document used by a landlord to determine if a prospective tenant is qualified to become a tenant of a dwelling unit. See Virginia Code 55.1-1200
Resale certificate: means a certificate issued by an association pursuant to §§ Virginia Code 55.1-1800
Resale purchase contract: means an agreement negotiated by a reseller by which an owner or a reseller agrees to sell, and a subsequent purchaser agrees to buy, a resale time-share. See Virginia Code 55.1-2200
Resale service: means engaging, directly or indirectly, for compensation, in any of the following either in person or by any medium of communication: (i) selling or offering to sell or list for sale for the owner a resale time-share, (ii) buying or offering to buy a resale time-share for transfer to a subsequent purchaser, (iii) transferring a resale time-share acquired from an owner to a subsequent purchaser or offering to assist in such transfer, (iv) invalidating or offering to invalidate for an owner the title of a resale time-share, or (v) advertising or soliciting to advertise or promote the transfer or invalidation of a resale time-share. See Virginia Code 55.1-2200
Resale time-share: means a time-share, wherever located, that has previously been sold to an owner who is a natural person for personal, family, or household use and that is transferred, or is intended to be transferred, through a resale service. See Virginia Code 55.1-2200
Resale transfer contract: means an agreement between a reseller and the owner by which the reseller agrees to transfer or assist in the transfer of the owner's resale time-share. See Virginia Code 55.1-2200
Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
Reseller: means any person who, directly or indirectly, engages in a resale service. See Virginia Code 55.1-2200
Reserve study: means a capital budget planning tool used to determine the physical status and estimated repair or replacement cost of capital components and an analysis of association funding capacity to maintain, repair, and replace capital components. See Virginia Code 55.1-1800
Reserve study: means a capital budget planning tool used to determine the physical status and estimated repair or replacement cost of capital components and an analysis of association funding capacity to maintain, repair, and replace capital components. See Virginia Code 55.1-1900
Residential ground rent: means a rent or charge paid for the use of land, whether or not title to such land is transferred to the user, or a lease of land, for personal residential purposes, (i) which is assignable by the obligor without the obligee's consent; (ii) which is for a term in excess of 15 years, including any rights of renewal at the option of the obligor; (iii) where the obligor has a present or future right to terminate such ground rent and to acquire the entire interest of the obligee in the land by the payment of a determined or determinable amount; and (iv) where the obligee's interest in the land is primarily a security interest to protect his right to be paid the rent or charge. See Virginia Code 55.1-1500
Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
Reverter deed: means the deed from a developer to a grantee that contains a possibility of reverter. See Virginia Code 55.1-2200
Right of rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, who receives a full refund of all fees paid. The right of rescission is guaranteed by the Truth in Lending Act (TILA). ^{Source: OCC}
Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
Roomer: means a person occupying a dwelling unit that lacks a major bathroom or kitchen facility, in a structure where one or more major facilities are used in common by occupants of the dwelling unit and other dwelling units. See Virginia Code 55.1-1200
sale: means any lease, assignment, or exchange, or any interest in any lot that is a part of or included in a subdivision. See Virginia Code 55.1-2300
Second trust: means (i) a first trust after modification, including a restatement of the first trust, under the Uniform Trust Decanting Act (§ Virginia Code 64.2-701
Secretary: means the corporate officer or other individual to whom the board of directors has delegated responsibility under subsection C of § Virginia Code 13.1-603
Secured party: means the same as that term is defined in § Virginia Code 55.1-1300
Security: means a share, participation, or other interest in property, in a business, or in an obligation of an enterprise or other issuer, and includes a certificated security, an uncertificated security, and a security account. See Virginia Code 64.2-612
Security account: means (i) a reinvestment account associated with a security, a securities account with a broker, a cash balance in a brokerage account, cash, interest, earnings, or dividends earned or declared on a security in an account, a reinvestment account, or a brokerage account, whether or not credited to the account before the owner's death, or (ii) a cash balance or other property held for or due to the owner of a security as a replacement for or product of an account security, whether or not credited to the account before the owner's death. See Virginia Code 64.2-612
Security deposit: means any refundable deposit of money that is furnished by a tenant to a landlord to secure the performance of the terms and conditions of a rental agreement, as a security for damages to the leased premises, or as a pet deposit. See Virginia Code 55.1-1200
Security interest: means the same as that term is defined in § Virginia Code 55.1-1300
Security interest: includes a mortgage, deed of trust, trust deed, security deed, contract for deed, land sales contract, lease intended as security, assignment of lease or rents intended as security, pledge of an ownership interest in an association, and any other consensual lien or title retention contract intended as security for an obligation. See Virginia Code 55.1-2100
Senior executive: means the chief executive officer, chief operating officer, chief financial officer and anyone in charge of a principal business unit or function. See Virginia Code 13.1-729
Service of process: The service of writs or summonses to the appropriate party.
Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
Settlement: means the time when the settlement agent has received the duly executed deed, loan funds, loan documents, and other documents and funds required to carry out the terms of the contract between the parties and the settlement agent reasonably determines that prerecordation conditions of such contracts have been satisfied. See Virginia Code 55.1-900
Settlement agent: means the person responsible for conducting the settlement and disbursement of the settlement proceeds and includes any individual, corporation, partnership, or other entity conducting the settlement and disbursement of loan proceeds. See Virginia Code 55.1-900
Settlement agent: means a person, other than a party to the real estate transaction, that provides escrow, closing, or settlement services in connection with a transaction related to real estate in the Commonwealth and that is listed as the settlement agent on the settlement statement or closing disclosure for such transaction. See Virginia Code 55.1-1000
Settlement service provider: means any person providing settlement services, as that term is defined under the federal Real Estate Settlement Procedures Act (Virginia Code 55.1-900
Settlement statement: means the statement of receipts and disbursements for a transaction related to real estate, including a statement prescribed under the Real Estate Settlement Procedures Act of 1974 (RESPA)(Virginia Code 55.1-1000
Settlor: except as otherwise provided in § Virginia Code 64.2-701
Share exchange: means a transaction pursuant to § Virginia Code 13.1-603
Shareholder: means a record shareholder. See Virginia Code 13.1-603
shareholder: means a record shareholder, a beneficial shareholder, and a voting trust beneficial owner whose entitlement to bring the proceeding under this article is not inconsistent with the voting trust agreement. See Virginia Code 13.1-672.7
Shareholder: means a record shareholder, a beneficial shareholder, and a voting trust beneficial owner. See Virginia Code 13.1-729
Shares: means the units into which the proprietary interests in a corporation are divided. See Virginia Code 13.1-603
signature: means , with present intent to authenticate or adopt a document: (i) to execute or adopt a tangible symbol to a document, and includes any manual, facsimile, or conformed signature; or (ii) to attach to or logically associate with an electronic transmission an electronic sound, symbol, or process, and includes an electronic signature in an electronic transmission. See Virginia Code 13.1-603
Single-family residence: means a structure, other than a multifamily residential structure, maintained and used as a single dwelling unit, condominium unit, or any other dwelling unit that has direct access to a street or thoroughfare and does not share heating facilities, hot water equipment, or any other essential facility or essential service with any other dwelling unit. See Virginia Code 55.1-1200
Situs: means the place outside the Commonwealth where a developer's time-share project is located. See Virginia Code 55.1-2200
Size: means the number of cubic feet, or the number of square feet of ground or floor space, within each unit as computed by reference to the plat and plans and rounded to the nearest whole number. See Virginia Code 55.1-1900
Sole ownership: The type of property ownership in which one individual holds legal title to the property and has full control of it.
Special declarant rights: means any right reserved for the benefit of a declarant, or of a person or group of persons that becomes a declarant, to (i) expand an expandable condominium; (ii) contract a contractable condominium; (iii) convert convertible land or convertible space or both; (iv) appoint or remove any officers of the unit owners' association or the executive board pursuant to subsection A of § Virginia Code 55.1-1900
Spendthrift provision: means a term of a trust that restrains both voluntary and involuntary transfer of a beneficiary's interest. See Virginia Code 64.2-701
State: means any commonwealth, state, territory, district or insular possession of the United States. See Virginia Code 38.2-100
State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Virginia Code 64.2-701
State aid to localities with police: means that amount which bears the same relationship to the population served by police departments as state aid to sheriff-only localities bears to the population served by sheriffs only. See Virginia Code 9.1-165
State aid to sheriff-only localities: means the estimated total amount for salaries and expenses to be paid by the Commonwealth, pursuant to Article 3 (§ Virginia Code 9.1-165
Statistical plan: means the plan, system, or arrangement used in collecting data for rate making or other purposes. See Virginia Code 38.2-1901
Statute: A law passed by a legislature.
Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
Structural component: means the roof, foundation, basement, walls, ceilings, or floors of a home. See Virginia Code 38.2-2600
Subdivision: means :
1. See Virginia Code 55.1-2300
Subpoena: A command to a witness to appear and give testimony.
Subpoena duces tecum: A command to a witness to produce documents.
Subscriber: means a person obligated under a reciprocal insurance agreement. See Virginia Code 38.2-1201
Subscriber: means a person who subscribes for shares in a corporation, whether before or after incorporation. See Virginia Code 13.1-603
Subsequent purchaser: means the purchaser or transferee of a resale time-share. See Virginia Code 55.1-2200
Subsidiary: means , as to any corporation, any other corporation of which it owns, directly or indirectly, voting shares entitled to cast a majority of the votes entitled to be cast generally in an election of directors of such other corporation. See Virginia Code 13.1-603
Substance abuse: means the same as that term is defined in § Virginia Code 9.1-193
Summons: Another word for subpoena used by the criminal justice system.
Supervisor: means a member of the board of supervisors of a county. See Virginia Code 15.2-102
Supplementary rate information: includes any manual or plan of rates, experience rating plan, statistical plan, classification, rating schedule, minimum premium, or minimum premium rule, policy fee, rating rule, rate-related underwriting rule, and any other information not otherwise inconsistent with the purposes of this chapter required by the Commission. See Virginia Code 38.2-1901
Supporting data: includes :
1. See Virginia Code 38.2-1901
Surety bail bondsman: means a person licensed pursuant to this article who is also licensed by the State Corporation Commission as a property and casualty insurance agent, and who sells, solicits, or negotiates surety insurance as defined in § Virginia Code 9.1-185
sworn: means "affirm" or "affirmed. See Virginia Code 1-250
Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent
Tenant: means a person entitled as under a rental agreement to occupy a manufactured home lot to the exclusion of others. See Virginia Code 55.1-1300
Tenant: means a person entitled only under the terms of a rental agreement to occupy a dwelling unit to the exclusion of others and includes a roomer. See Virginia Code 55.1-1200
Tenant records: means all information, including financial, maintenance, and other records about a tenant or prospective tenant, whether such information is in written or electronic form or any other medium. See Virginia Code 55.1-1200
Terms of a trust: means :
1. See Virginia Code 64.2-701
Testator: A male person who leaves a will at death.
Testify: Answer questions in court.
Testimony: Evidence presented orally by witnesses during trials or before grand juries.
Tier-city: means an incorporated community within a consolidated county that (i) has within defined boundaries a population of 5,000 or more, (ii) has been designated as a tier-city by the General Assembly, and (iii) has both the powers of a town and such additional powers as may be granted tier-cities by the General Assembly. See Virginia Code 1-252
Time-share: means either a time-share estate or a time-share use plus its incidental benefits. See Virginia Code 55.1-2200
Time-share estate: means a right to occupy a time-share unit or any of several time-share units during five or more separated time periods over a period of at least five years, including renewal options, coupled with a freehold estate or an estate for years in one or more time-share units or a specified portion of such time-share units. See Virginia Code 55.1-2200
Time-share expense: means (i) expenditures, fees, charges, or liabilities incurred with respect to the operation, maintenance, administration, or insuring of the time-shares, units, and common elements comprising the entire time-share project, whether or not incurred for the repair, renovation, upgrade, refurbishing, or capital improvements, and (ii) any allocations of reserves. See Virginia Code 55.1-2200
Time-share use: means a right to occupy a time-share unit or any of several time-share units during five or more separated time periods over a period of at least five years, including renewal options, not coupled with a freehold estate or an estate for years in a time-share project or a specified portion of such time-share project. See Virginia Code 55.1-2200
Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
Town: means any existing town or an incorporated community within one or more counties which became a town before noon, July one, nineteen hundred seventy-one, as provided by law or which has within defined boundaries a population of 1,000 or more and which has become a town as provided by law. See Virginia Code 15.2-102
Town: means any existing town or an incorporated community within one or more counties which became a town before noon, July 1, 1971, as provided by law or which has within defined boundaries a population of 1,000 or more and which has become a town as provided by law. See Virginia Code 1-254
Transfer: means a voluntary conveyance of a resale time-share to a person other than the developer, association, or managing entity of the time-share program of which the resale time-share is a part or to a person taking ownership by gift, foreclosure, or deed in lieu of foreclosure. See Virginia Code 55.1-2200
Transfer on death deed: means a deed or conveyance of a cooperative interest authorized under this article. See Virginia Code 64.2-621
Transferor: means an individual who makes a transfer on death deed. See Virginia Code 64.2-621
Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
Trust director: means a person that is granted a power of direction by the terms of a trust to the extent the power is exercisable while the person is not serving as a trustee. See Virginia Code 64.2-701
Trust instrument: means a record executed by the settlor to create a trust or by any person to create a second trust that contains some or all of the terms of the trust, including any amendments. See Virginia Code 64.2-701
Trustee: A person or institution holding and administering property in trust.
Trustee: means a trustee under a probated will or an inter vivos trust instrument. See Virginia Code 64.2-100
Trustee: includes an original, additional, and successor trustee and a cotrustee. See Virginia Code 64.2-701
Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on ^{Source: OCC}
Unit: means a portion of the condominium designed and intended for individual ownership and use. See Virginia Code 55.1-1900
unit: means the real property or real property improvement in a project that is divided into time-shares and designated for separate occupancy and use. See Virginia Code 55.1-2200
United States: includes district, authority, bureau, commission, department, and any other agency of the United States. See Virginia Code 13.1-603
Unrestricted voting trust beneficial owner: means , with respect to any shareholder rights, a voting trust beneficial owner whose entitlement to exercise the shareholder right in question is not inconsistent with the voting trust agreement. See Virginia Code 13.1-603
User fees: Fees charged to users of goods or services provided by the government. In levying or authorizing these fees, the legislature determines whether the revenue should go into the treasury or should be available to the agency providing the goods or services.
Utility: means electricity, natural gas, or water and sewer provided by a public service corporation or such other person providing utility services as permitted under § Virginia Code 55.1-1200
Valid shares: means the shares of any class or series of the corporation that have been duly authorized and validly issued in accordance with this chapter, including as a result of ratification or validation under this article. See Virginia Code 13.1-614.1
Verdict: The decision of a petit jury or a judge.
Visible evidence of mold: means the existence of mold in the dwelling unit that is visible to the naked eye by the landlord or tenant in areas within the interior of the dwelling unit readily accessible at the time of the move-in inspection. See Virginia Code 55.1-1200
Voting group: means all shares of one or more classes or series that under the articles of incorporation or this chapter are entitled to vote and be counted together collectively on a matter at a meeting of shareholders. See Virginia Code 13.1-603
Voting power: means the current power to vote in the election of directors. See Virginia Code 13.1-603
Voting trust beneficial owner: means an owner of a beneficial interest in shares of the corporation held in a voting trust established pursuant to subsection A of § Virginia Code 13.1-603
Worker: means an individual employed by a worker cooperative. See Virginia Code 13.1-346
Worker cooperative: means a corporation incorporated under the provisions of Article 3 (§ Virginia Code 13.1-346
written: means any information in the form of a document. See Virginia Code 13.1-603
Written notice: means notice given in accordance with § Virginia Code 55.1-1200

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Virginia Code > Title 15.2 > Subtitle II > Chapter 9 – General Powers of Local Governments

Terms Used In Virginia Code > Title 15.2 > Subtitle II > Chapter 9 - General Powers of Local Governments

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