Terms Used In Virginia Code > Title 22.1 > Chapter 19.1 - College Partnership Laboratory Schools

• 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.
• 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
• Authority: means the Virginia Commonwealth University Health System Authority. See Virginia Code 23.1-2400
• Bank: means any national bank, any bank organized under Chapter 8 (§ Virginia Code 6.2-300
• Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
• Bequest: Property gifted by will.
• Case law: The law as laid down in cases that have been decided in the decisions of the courts.
• College partnership laboratory school: means a public, nonsectarian, nonreligious school in the Commonwealth established by a public institution of higher education; public higher education center, institute, or authority; or an eligible institution as defined in § Virginia Code 22.1-349.1
• Commission: means the State Corporation Commission. See Virginia Code 6.2-100
• Credit union: means any credit union organized under Chapter 13 (§ Virginia Code 6.2-300
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Devise: To gift property by will.
• Entity: means any corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or other legal or commercial entity. See Virginia Code 6.2-100
• Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. ^{Source: OCC}
• Finance charge: has the meaning assigned to it in Consumer Financial Protection Bureau Regulation Z, Virginia Code 6.2-100
• 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.
• Governing board: means the board of a college partnership laboratory school that is responsible for creating, managing, and operating the college partnership laboratory school and whose members have been selected by the institution of higher education that establishes the college partnership laboratory school. See Virginia Code 22.1-349.1
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• 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}
• Loan: means a loan or forbearance of money. See Virginia Code 6.2-300
• Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) ^{Source: OCC}
• open-end credit plan: means consumer credit extended by a creditor under a plan in which: (i) the creditor reasonably contemplates repeated transactions; (ii) the creditor may impose a finance charge from time to time on an outstanding unpaid balance; and (iii) the amount of credit that may be extended to the consumer during the term of the plan, up to any limit set by the creditor, is generally made available to the extent that any outstanding balance is repaid. See Virginia Code 6.2-300
• parents: means any parent, guardian, legal custodian, or other person having control or charge of a child. See Virginia Code 22.1-1
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or other legal or commercial entity. See Virginia Code 6.2-100
• President pro tempore: A constitutionally recognized officer of the Senate who presides over the chamber in the absence of the Vice President. The President Pro Tempore (or, "president for a time") is elected by the Senate and is, by custom, the Senator of the majority party with the longest record of continuous service.
• 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
• Recess: A temporary interruption of the legislative business.
• Savings institution: means any savings institution, as defined in § Virginia Code 6.2-300
• School board: means the school board that governs a school division. See Virginia Code 22.1-1
• 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.
• Superintendent: means the Superintendent of Public Instruction. See Virginia Code 22.1-1
• University: means Virginia Commonwealth University. See Virginia Code 23.1-2400
• Uphold: The decision of an appellate court not to reverse a lower court decision.
• Usury: Charging an illegally high interest rate on a loan. ^{Source: OCC}