Terms Used In Virginia Code > Title 22.1 > Chapter 20.2 - Northern Neck-Middle Peninsula Public Education Consortium

• Appraisal: A determination of property value.
• Bank: means any national bank, any bank organized under Chapter 8 (§ Virginia Code 6.2-300
• Case law: The law as laid down in cases that have been decided in the decisions of the courts.
• 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 union: means any credit union organized under Chapter 13 (§ Virginia Code 6.2-300
• Department: means the Department of Education. See Virginia Code 22.1-1
• Devise: To gift property by will.
• Donor: The person who makes a gift.
• Loan: means a loan or forbearance of money. See Virginia Code 6.2-300
• Savings institution: means any savings institution, as defined in § Virginia Code 6.2-300
• Subordinate mortgage or deed of trust: means a mortgage or deed of trust that is subject to a prior mortgage or deed of trust in existence at the time of the making of the loan secured by such subordinate mortgage or deed of trust. See Virginia Code 6.2-300
• Usury: Charging an illegally high interest rate on a loan. ^{Source: OCC}