Virginia Code > Title 3.2 > Subtitle II > Part C – Other Commodity-Related Boards, Councils, and Foundations

		Sections
Chapter 26	Aquaculture Advisory Board	3.2-2600 – 3.2-2603
Chapter 27	Marine Products Board	3.2-2700 – 3.2-2705
Chapter 28	Plant Pollination Fund	3.2-2800 – 3.2-2806
Chapter 29	Agricultural Council	3.2-2900 – 3.2-2905
Chapter 30	Wine Board	3.2-3000 – 3.2-3006
Chapter 30.1	Virginia Spirits Board	3.2-3007 – 3.2-3013

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Terms Used In Virginia Code > Title 3.2 > Subtitle II > Part C - Other Commodity-Related Boards, Councils, and Foundations

Abuse: means any act or failure to act by an employee or other person responsible for the care of an individual in a facility or program operated, licensed, or funded by the Department, excluding those operated by the Department of Corrections, that was performed or was failed to be performed knowingly, recklessly, or intentionally, and that caused or might have caused physical or psychological harm, injury, or death to an individual receiving care or treatment for mental illness, developmental disabilities, or substance abuse. See Virginia Code 37.2-100
Account: means any account with a savings institution and includes a checking, time, interest, or savings account. See Virginia Code 6.2-1100
Acquire: means :
1. See Virginia Code 6.2-1148
Acquisition of a trust office: means the acquisition of a trust office located in a host state, without acquiring the trust institution of such office. See Virginia Code 6.2-1065
Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
Adjournment sine die: The end of a legislative session "without day." These adjournments are used to indicate the final adjournment of an annual or the two-year session of legislature.
Adult: means a person 18 years of age or more. See Virginia Code 1-203
Advisory agency: means any board, commission, committee or post which does not exercise any sovereign power or duty, but is appointed by a governmental agency or officer or is created by law for the purpose of making studies or recommendations, or advising or consulting with a governmental agency. See Virginia Code 2.2-3101
advisory board: means the board appointed pursuant to this chapter. See Virginia Code 33.2-2000
advisory board: means the board appointed pursuant to § Virginia Code 33.2-2100
Affected locality or public entity: means any county, city, or town in which all or a portion of a qualifying transportation facility is located and any other responsible public entity directly affected by the qualifying transportation facility. See Virginia Code 33.2-1800
Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
Affiliate: means , with respect to an association, a bank holding company, as defined in Virginia Code 6.2-1081
Affiliated business entity relationship: means a relationship, other than a parent-subsidiary relationship, that exists when (i) one business entity has a controlling ownership interest in the other business entity, (ii) a controlling owner in one entity is also a controlling owner in the other entity, or (iii) there is shared management or control between the business entities. See Virginia Code 2.2-3101
Affiliated trust company: means a trust company that is controlled by a trust company holding company. See Virginia Code 6.2-1000
agency: means any agency, authority, board, department, division, commission, institution, bureau, or like governmental entity of the Commonwealth and includes any entity, public or private, with which any of the foregoing has entered into a contractual relationship to accomplish an agency program. See Virginia Code 30-65
Agency: means any authority, commission, instrumentality, officer, board or other unit of the state government empowered by the basic laws to make regulations or decide cases. See Virginia Code 30-73.1
Agent: has the meaning assigned to it in § Virginia Code 6.2-1013
Allegation: something that someone says happened.
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.
Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. ^{Source: FDIC}
Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
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.
Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
Applicant: means a customer who applies for a refund anticipation loan through a facilitator. See Virginia Code 6.2-2500
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
Aquaculture: means the propagation, rearing, enhancement, and harvest of aquatic organisms in controlled or selected environments, conducted in marine, estuarine, brackish, or fresh water. See Virginia Code 3.2-2600
Arrest: Taking physical custody of a person by lawful authority.
Asset management: means a systematic process of operating and maintaining the systems of state highways by combining engineering practices and analysis with sound business practices and economic theory to achieve cost-effective outcomes. See Virginia Code 33.2-100
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Association: means a corporation organized as an industrial loan association under the provisions of the Virginia Stock Corporation Act (§ Virginia Code 6.2-1400
Association: means a savings and loan association or building and loan association that is authorized by law to accept deposits and to hold itself out to the public as engaged in the savings and loan business. See Virginia Code 6.2-1100
Association: has the meaning assigned to it in § Virginia Code 6.2-1081
Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
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.
authority: means a public body and a body corporate and politic organized in accordance with the provisions of Chapter 6 (§ Virginia Code 37.2-100
Authority: means the Richmond Metropolitan Transportation Authority created by § Virginia Code 33.2-2900
Authority: means the Central Virginia Transportation Authority. See Virginia Code 33.2-3700
Authority: means a regional passenger rail station authority created pursuant to this chapter. See Virginia Code 33.2-3800
Authority facility: means all facilities purchased, constructed, or otherwise acquired by the Authority pursuant to the provisions of this chapter and all extensions and improvements thereof. See Virginia Code 33.2-2900
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.
Bailiff: a court officer who enforces the rules of behavior in courtrooms.
Bank: has the meaning assigned to it in § Virginia Code 6.2-1047
Bank: has the meaning assigned to it in Virginia Code 6.2-1065
Bank holding company: has the meaning assigned to it in § Virginia Code 6.2-1047
Bank supervisory agency: means : (i) any agency of another state with primary responsibility for chartering and supervising a trust institution and (ii) the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, or the Board of Governors of the Federal Reserve System and any successor to these agencies. See Virginia Code 6.2-1065
Bank under common ownership: means a bank of which 80 percent or more of its common stock is owned, directly or indirectly through a subsidiary, by the same Virginia bank holding company as owns, directly or indirectly through a subsidiary, at least 80 percent of the stock of the subsidiary bank substituted as fiduciary. See Virginia Code 6.2-1047
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.
Beekeeper: means any person who keeps and manages bees for profit, and shall include those growers who keep bees for pollinating crops. See Virginia Code 3.2-2800
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}
Bequest: Property gifted by will.
Board: means the Board of Housing and Community Development. See Virginia Code 27-95
Board: means the Commonwealth Transportation Board. See Virginia Code 33.2-100
Board: means the State Board of Behavioral Health and Developmental Services. See Virginia Code 37.2-100
Board: means the Commonwealth Transportation Board, or if the Commonwealth Transportation Board is abolished, any board, commission, or officer succeeding to the principal functions thereof or upon whom the powers given by this chapter to the Board shall be given by law. See Virginia Code 33.2-1700
Board: means the board of directors of the authority. See Virginia Code 33.2-3800
Board: means the Board of Agriculture and Consumer Services. See Virginia Code 3.2-100
Board: means the Virginia Spirits Board. See Virginia Code 3.2-3007
Bonds: means bonds, notes, bond anticipation notes, or other obligations of the District, notwithstanding any contrary provision in this chapter, which may be issued in certificated or uncertificated form as current interest or capital appreciation bonds, or a hybrid thereof, and may bear interest at a rate, which may be fixed, zero, or at a floating or variable rate of interest established by reference to indices or formulae, that may be in excess of the rate now permitted by law and payable at such times as the Commission may determine. See Virginia Code 33.2-2200
Borrower: means an applicant who receives a refund anticipation loan through a facilitator. See Virginia Code 6.2-2500
borrower: means (i) any current resident of the Commonwealth who has received or agreed to pay a qualified education loan or (ii) any person who is contractually obligated with such resident for repaying the qualified education loan. See Virginia Code 6.2-2600
Branch office: means an office of a savings institution where, in addition to conducting other business activities of the institution, the institution accepts deposits. See Virginia Code 6.2-1100
Broker-dealer: has the meaning assigned to it in § Virginia Code 6.2-1013
bus stop: means that area within 150 feet of a MetroBus bus stop sign, excluding the interior of any building not owned, controlled or operated by the Washington Metropolitan Area Transit Authority. See Virginia Code 33.2-3100
Business: means a corporation, partnership, sole proprietorship, firm, enterprise, franchise, association, trust or foundation, or any other individual or entity carrying on a business or profession, whether or not for profit. See Virginia Code 2.2-3101
Candidate: means a person who seeks or campaigns for an office of the Commonwealth or one of its governmental units in a general, primary, or special election and who is qualified to have his name placed on the ballot for the office. See Virginia Code 2.2-3101
Capital: means the sum of share accounts, reserves, and undivided earnings of a credit union. See Virginia Code 6.2-1300
Chambers: A judge's office.
Chief: means the Chief of the Division of Mines of the Department of Energy. See Virginia Code 45.2-100
Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
City: has the meaning assigned to it in § 1-208. See Virginia Code 33.2-100
City: means an independent incorporated community which became a city as provided by law before noon on July 1, 1971, or which has within defined boundaries a population of 5,000 or more and which has become a city as provided by law. See Virginia Code 1-208
Civil forfeiture: The loss of ownership of property used to conduct illegal activity.
Coal refuse: means waste material resulting from the mining and screening or processing of coal. See Virginia Code 45.2-617
Coal slurry: means waste water and impurities produced as the result of coal washing and preparation of coal for market, containing a combination of coal, shale, claystone, siltstone, sandstone, limestone, or related materials that are excavated, moved, and disposed of from underground workings. See Virginia Code 45.2-617
Code: means the Statewide Fire Prevention Code. See Virginia Code 27-95
Code provisions: means the provisions of the Fire Prevention Code as adopted and promulgated by the Board, and the amendments thereof as adopted and promulgated from time to time by such Board. See Virginia Code 27-95
Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
Collegial body: means a governmental entity whose power or authority is vested within its membership. See Virginia Code 1-209
Commission: means the State Corporation Commission. See Virginia Code 33.2-1800
Commission: means the governing body of a local transportation district created pursuant to this chapter. See Virginia Code 33.2-2000
Commission: means the governing body of a local transportation improvement district created pursuant to this chapter. See Virginia Code 33.2-2100
Commission: means the governing body of the District known as the Chesapeake Bay Bridge and Tunnel Commission. See Virginia Code 33.2-2200
Commission: means the governing body of the local transportation district created pursuant to this chapter. See Virginia Code 33.2-2700
Commission: means the Metro Reform Commission. See Virginia Code 33.2-3100.1
Commission: means the State Corporation Commission. See Virginia Code 6.2-100
Commissioner: means the Commissioner of Agriculture and Consumer Services. See Virginia Code 3.2-100
Commissioner: means the Commissioner of Financial Institutions. See Virginia Code 6.2-100
Commissioner of Highways: means the individual who serves as the chief executive officer of the Department of Transportation. See Virginia Code 33.2-100
Committee: means the Interstate 81 Committee established pursuant to § Virginia Code 33.2-3600
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.
Common trust funds: means common trust funds that are described under § 584 of the Internal Revenue Code of 1954, as well as any other type of collective investment fund that is exempt from federal income taxation under any other provision of the Internal Revenue Code or regulations issued pursuant thereto. See Virginia Code 6.2-1081
Community services board: means the public body established pursuant to § Virginia Code 37.2-100
company: shall mean all corporations created by acts of the General Assembly of Virginia, or under the general incorporation laws of this Commonwealth, or doing business therein, and shall exclude all municipal corporations, other political subdivisions, and public institutions owned or controlled by the Commonwealth; and the term "the Commission" shall mean the State Corporation Commission. See Virginia Code 12.1-1
Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
Comprehensive agreement: means the comprehensive agreement between the private entity and the responsible public entity required by § Virginia Code 33.2-1800
Concession: means any lease, license, franchise, easement, or other binding agreement transferring rights for the use or control, in whole or in part, of a qualifying transportation facility by a responsible public entity to a private entity for a definite term during which the private entity will provide transportation-related services, including operations and maintenance, revenue collection, toll-collection enforcement, design, construction, and other activities that enhance throughput, reduce congestion, or otherwise manage the facility, in return for the right to receive all or a portion of the revenues of the qualifying transportation facility. See Virginia Code 33.2-1800
Concurrent resolution: A legislative measure, designated "S. Con. Res." and numbered consecutively upon introduction, generally employed to address the sentiments of both chambers, to deal with issues or matters affecting both houses, such as a concurrent budget resolution, or to create a temporary joint committee. Concurrent resolutions are not submitted to the President/Governor and thus do not have the force of law.
Conference committee: A temporary, ad hoc panel composed of conferees from both chamber of a legislature which is formed for the purpose of reconciling differences in legislation that has passed both chambers. Conference committees are usually convened to resolve bicameral differences on major and controversial legislation.
Continuance: Putting off of a hearing ot trial until a later time.
Contract: A legal written agreement that becomes binding when signed.
contract: as used in this chapter , shall not be held to include the depositing of funds in, the borrowing of funds from, or the serving as agent or trustee by any bank in which any member, agent, or employee of the Authority may be a director, officer, or employee or have a security interest, nor shall such term include contracts or agreements with the Commonwealth Transportation Board or the purchase of services from, or other transactions in the ordinary course of business with, public service corporations. See Virginia Code 33.2-2917
Contract: includes a subcontract only when the contract of which it is a part is with the officer's or employee's own governmental agency. See Virginia Code 2.2-3101
Control: means (i) ownership by a person of 25 percent or more of the voting stock of a trust company; (ii) control as defined in the Bank Holding Company Act of 1956 (Virginia Code 6.2-1013
Conviction: A judgement of guilt against a criminal defendant.
Cooper: means a commercial producer of wooden casks, barrels, and other staved wooden containers who sells at least $10,000 worth of such wooden containers of a type used for the production of spirits. See Virginia Code 3.2-3007
Corporate credit union: means a credit union whose field of membership consists primarily of other credit unions. See Virginia Code 6.2-1300
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: means a corporation organized in accordance with this article. See Virginia Code 6.2-1331
Cost: means all or any part of the cost of the following:
1. See Virginia Code 33.2-2000
Cost: means all or any part of the following:
1. See Virginia Code 33.2-2100
Council: means the Virginia Conflict of Interest and Ethics Advisory Council established in § 30-355. See Virginia Code 2.2-3101
Counterclaim: A claim that a defendant makes against a plaintiff.
County: means any county having a population of more than 500,000. See Virginia Code 33.2-2100
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 bureau: An agency that collects individual credit information and sells it for a fee to creditors so they can make a decision on granting loans. Typical clients include banks, mortgage lenders, credit card companies, and other financing companies. (Also commonly referred to as consumer-reporting agency or credit-reporting agency.) ^{Source: OCC}
Credit union: means a cooperative, nonprofit corporation organized under the laws of the Commonwealth and authorized to do business under this chapter for the purposes of encouraging thrift among its members, creating a source of credit at fair and reasonable rates of interest, providing an opportunity for its members to use and control their own money on a democratic basis in order to improve their economic and social condition, and conducting any other business, engaging in any other activity, and providing any other service that may be of benefit to its members, consistent with the provisions of this chapter and any regulations adopted by the Commission under this chapter. See Virginia Code 6.2-1300
credit union member: means any person holding a share account in accordance with standards specified by the credit union. See Virginia Code 6.2-1300
Credit union service organization: means any organization, corporation, or association, if (i) the membership or ownership, as the case may be, of such organization, corporation, or association is primarily confined or restricted to credit unions or organizations of credit unions and (ii) the purpose for which such organization, corporation, or association is organized is to strengthen or advance the development of credit unions or credit union organizations. See Virginia Code 6.2-1300
Cross pollination: means the transfer of pollen from the anthers of blossoms to the stigmas of other blossoms of the same crops or a variety of the same crop. See Virginia Code 3.2-2800
Customer: means an individual for whom tax preparation services are performed. See Virginia Code 6.2-2500
Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
Decedent: A deceased person.
Deed: The legal instrument used to transfer title in real property from one person to another.
Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
Department: means the Department of Transportation. See Virginia Code 33.2-100
Department: means the Department of Behavioral Health and Developmental Services. See Virginia Code 37.2-100
Department: means the Department of Agriculture and Consumer Services. See Virginia Code 3.2-100
Dependent: A person dependent for support upon another.
Designated relative: means the individual to or through whom the family members are related. See Virginia Code 6.2-1074
development: means to plan, design, develop, finance, lease, acquire, install, construct, or expand. See Virginia Code 33.2-1800
Developmental disability: means a severe, chronic disability of an individual that (i) is attributable to a mental or physical impairment, or a combination of mental and physical impairments, other than a sole diagnosis of mental illness; (ii) is manifested before the individual reaches 22 years of age; (iii) is likely to continue indefinitely; (iv) results in substantial functional limitations in three or more of the following areas of major life activity: self-care, receptive and expressive language, learning, mobility, self-direction, capacity for independent living, or economic self-sufficiency; and (v) reflects the individual's need for a combination and sequence of special interdisciplinary or generic services, individualized supports, or other forms of assistance that are of lifelong or extended duration and are individually planned and coordinated. See Virginia Code 37.2-100
Developmental services: means planned, individualized, and person-centered services and supports provided to individuals with developmental disabilities for the purpose of enabling these individuals to increase their self-determination and independence, obtain employment, participate fully in all aspects of community life, advocate for themselves, and achieve their fullest potential to the greatest extent possible. See Virginia Code 37.2-100
Devise: To gift property by will.
Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
District: means any district created pursuant to this chapter. See Virginia Code 33.2-2000
District: means any transportation improvement district created pursuant to this chapter. See Virginia Code 33.2-2100
District: means the political subdivision of the Commonwealth known as the Chesapeake Bay Bridge and Tunnel District. See Virginia Code 33.2-2200
District: means the district created pursuant to this chapter. See Virginia Code 33.2-2700
Docket: A log containing brief entries of court proceedings.
Donee: The recipient of a gift.
Donor: The person who makes a gift.
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}
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: means all persons employed by a governmental or advisory agency, unless otherwise limited by the context of its use. See Virginia Code 2.2-3101
Enforcement agency: means the agency or agencies of any local governing body or the State Fire Marshal charged with the administration or enforcement of the Fire Prevention Code. See Virginia Code 27-95
Enrolled bill: The final copy of a bill or joint resolution which has passed both chambers in identical form. It is printed on parchment paper, signed by appropriate officials, and submitted to the President/Governor for signature.
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: 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
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.
Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
Ex officio: Literally, by virtue of one's office.
Ex officio: means service by virtue of one's office and includes voting privileges for ex officio members unless otherwise provided. See Virginia Code 1-215
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
Facilitator: means a person who receives or accepts for delivery an application for a refund anticipation loan, delivers a check in payment of refund anticipation loan proceeds, or in any other manner acts to allow the making of a refund anticipation loan. See Virginia Code 6.2-2500
Facility: means a state or licensed hospital, training center, psychiatric hospital, or other type of residential or outpatient mental health or developmental services facility. See Virginia Code 37.2-100
Facility: includes structures that are not owned by the authority or its members but are subject to a cooperative arrangement pursuant to subdivision 13 of § Virginia Code 33.2-3800
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.
Family: means a designated relative and family members of that designated relative. See Virginia Code 6.2-1074
Family member: means an immediate family member of an individual receiving services or the principal caregiver of that individual. See Virginia Code 37.2-100
Family member: means the designated relative and:
1. See Virginia Code 6.2-1074
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
Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
Federal financial institution: means a financial institution incorporated or organized in accordance with the laws of the United States. See Virginia Code 6.2-1100
Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
Federal savings institution: means a savings institution incorporated or organized in accordance with the laws of the United States. See Virginia Code 6.2-1100
Fiduciary: A trustee, executor, or administrator.
Fiduciary: shall include any one or more of the following:
a. See Virginia Code 8.01-2
Fiduciary: means executor, administrator, conservator, guardian of a minor, committee, or trustee. See Virginia Code 6.2-1013
Fiduciary: means executor, administrator, conservator, guardian, committee, or trustee. See Virginia Code 6.2-1074
Fiduciary: means the status resulting from an association's undertaking to act alone, through an affiliate, or jointly with others, primarily for the benefit of another, and includes an association's acting as trustee, executor, administrator, committee, guardian, conservator, receiver, managing agent, registrar of stocks and bonds, escrow, transfer, or paying agent, trustee of employee pension, welfare and profit sharing trusts, and in any other similar capacity. See Virginia Code 6.2-1081
Fiduciary capacity: means every capacity in which a trust institution is granted the right to act pursuant to § Virginia Code 6.2-1047
Fiduciary records: means all matters which are written, transcribed, recorded, received, or otherwise come into the possession of an association and are necessary to preserve information concerning the actions and events relevant to the fiduciary activities of an association. See Virginia Code 6.2-1081
Financial institution: means any bank, trust company, savings institution, industrial loan association, consumer finance company, or credit union. See Virginia Code 6.2-100
Financial institution holding company: has the meaning assigned to it in § Virginia Code 6.2-1100
fire marshal: as used in this chapter may include the local fire official and local arson investigator when appointed pursuant to this section. See Virginia Code 27-30
Fire Services Board: means the Virginia Fire Services Board as provided for in § Virginia Code 27-95
Fireworks: means any firecracker, torpedo, skyrocket, or other substance or object, of whatever form or construction, that contains any explosive or inflammable compound or substance, and is intended, or commonly known as fireworks, and which explodes, rises into the air or travels laterally, or fires projectiles into the air. See Virginia Code 27-95
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.
Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
- You are late making a payment or commit some other default, triggering an increase to a penalty rate
- The bank changes the terms of your account and you do not reject the change.
- The rate expires (if the rate was fixed for only a certain period of time).
Floor leaders: The Majority Leader and Minority Leader are elected by their respective party conferences to serve as the chief Senate spokesmen for their parties and to manage and schedule the legislative and executive business of the Senate. By custom, the Presiding Officer gives the floor leaders priority in obtaining recognition to speak on the floor of the Senate.
Forbearance: A means of handling a delinquent loan. A
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 judgment: means any judgment, decree, or order of a court of the United States or of any other court which is entitled to full faith and credit in this state. See Virginia Code 8.01-465.1
Foreign savings institution: means a savings institution incorporated under the laws of a state other than the Commonwealth, the principal business office of which is located outside the Commonwealth. See Virginia Code 6.2-1100
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}
Fraud: Intentional deception resulting in injury to another.
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}
functional area: means that grouping of state governmental activities, programs, and agencies which constitute a single budget function as identified and classified in the Virginia State Government Program Structure. See Virginia Code 30-65
Fund: means the Washington Metropolitan Area Transit Authority Capital Fund. See Virginia Code 33.2-3400
Fund: means the Interstate 81 Corridor Improvement Fund. See Virginia Code 33.2-3600
Fund: means the Central Virginia Transportation Fund. See Virginia Code 33.2-3700
Fund: means the Virginia Spirits Promotion Fund. See Virginia Code 3.2-3007
Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
Gift: means any gratuity, favor, discount, entertainment, hospitality, loan, forbearance, or other item having monetary value. See Virginia Code 2.2-3101
Governing bodies: means the county boards of supervisors, city and town councils, and boards of visitors of institutions of higher education that are members of the authority. See Virginia Code 33.2-3800
Governing body: means the governing body of a county. See Virginia Code 33.2-2100
Governing instrument: means the written document or documents pursuant to which an association undertakes to act in a fiduciary capacity, and includes a will, codicil, deed of trust, trust deed, and other similar instruments. See Virginia Code 6.2-1081
Governmental agency: means each component part of the legislative, executive or judicial branches of state and local government, including each office, department, authority, post, commission, committee, and each institution or board created by law to exercise some regulatory or sovereign power or duty as distinguished from purely advisory powers or duties. See Virginia Code 2.2-3101
Grape grower: means a commercial grower who: (i) sells at least $10,000 worth of grapes annually; or (ii) has planted and maintains at least three acres of vines of a type used for the production of wine. See Virginia Code 3.2-3000
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.
Habeas corpus: A writ that is usually used to bring a prisoner before the court to determine the legality of his imprisonment. It may also be used to bring a person in custody before the court to give testimony, or to be prosecuted.
Highway: means the entire width between the boundary lines of every way or place open to the use of the public for purposes of vehicular travel in the Commonwealth. See Virginia Code 33.2-100
highway construction: means highway, passenger and freight rail, or public transportation purposes. See Virginia Code 33.2-100
Home loan: means a real estate loan the security for which is a lien on real estate comprising a single-family dwelling or a dwelling unit for four or fewer families in the aggregate. See Virginia Code 6.2-1100
Home state: means (i) with respect to a federally chartered trust institution, the state where such institution maintains its principal office and (ii) with respect to any other trust institution, the state that chartered such institution. See Virginia Code 6.2-1065
Home state regulator: means the bank supervisory agency with primary responsibility for chartering and supervising an out-of-state trust institution. See Virginia Code 6.2-1065
Host state: means a state, other than the home state of a trust institution, in which the trust institution maintains or seeks to acquire or establish an office. See Virginia Code 6.2-1065
Household: means those individuals who are related by blood, marriage, or other recognized family relationship and who live in the same house or other place of residence. See Virginia Code 6.2-1300
Immediate family: means the individuals in a household who are related by blood, marriage, or other recognized family relationship. See Virginia Code 6.2-1300
Immediate family: means (i) a spouse and (ii) any other person who resides in the same household as the officer or employee and who is a dependent of the officer or employee. See Virginia Code 2.2-3101
Impeachment: (1) The process of calling something into question, as in "impeaching the testimony of a witness." (2) The constitutional process whereby the House of Representatives may "impeach" (accuse of misconduct) high officers of the federal government for trial in the Senate.
Improvements: means those repairs to, replacements of, additions to, and betterments of a project acquired by purchase or by condemnation as are deemed necessary to place it in a safe and efficient condition for the use of the public, if such repairs, replacements, additions, and betterments are ordered prior to the sale of any bonds for the acquisition of such project. See Virginia Code 33.2-1700
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
Includes: means includes, but not limited to. See Virginia Code 1-218
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 current direct recipient of public or private mental health, developmental, or substance abuse treatment, rehabilitation, or habilitation services and includes the terms "consumer" "patient" "resident" "recipient" or "client. See Virginia Code 37.2-100
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
Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
insolvency: means that (i) a credit union is incapable of meeting the current demands of creditors or (ii) the current value of a credit union's assets is less than the current value of the sum of its share accounts and liabilities. See Virginia Code 6.2-1313
Inspection warrant: means an order in writing, made in the name of the Commonwealth, signed by any judge or magistrate whose territorial jurisdiction encompasses the building, structure or premises to be inspected or entered, and directed to a state or local official, commanding him to enter and to conduct any inspection, examination, testing or collection of samples for testing required or authorized by the Virginia Statewide Fire Prevention Code. See Virginia Code 27-95
Insured savings institution: means a savings institution whose accounts are insured by the Federal Deposit Insurance Corporation or other federal insurance agency. See Virginia Code 6.2-1100
Insuring organization: means an organization that provides aid and financial assistance to credit unions that are in the process of liquidation or are incurring financial difficulty in order that the share accounts in the credit unions shall be protected or guaranteed against loss up to a specified limit for each account, such as the National Credit Union Administration Share Insurance Fund, a corporation organized under Article 5 (§ Virginia Code 6.2-1300
Intellectual disability: means a disability, originating before the age of 18 years, characterized concurrently by (i) significant subaverage intellectual functioning as demonstrated by performance on a standardized measure of intellectual functioning, administered in conformity with accepted professional practice, that is at least two standard deviations below the mean and (ii) significant limitations in adaptive behavior as expressed in conceptual, social, and practical adaptive skills. See Virginia Code 37.2-100
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}
Interim agreement: means an agreement, including a memorandum of understanding or binding preliminary agreement, between the private entity and the responsible public entity that provides for completion of studies and any other activities to advance the development and/or operation of a qualifying transportation facility. See Virginia Code 33.2-1800
Interstate System: means the same as that term is defined in Virginia Code 33.2-100
Investment advisor: has the meaning assigned to it in § Virginia Code 6.2-1013
Investment advisor representative: has the meaning assigned to it in § Virginia Code 6.2-1013
Investment authority: means the responsibility conferred by action of law or a provision of a governing instrument to make, select, or change investments, review investment decisions made by others, or to provide investment advice or counsel to others. See Virginia Code 6.2-1081
Investment company: has the meaning assigned to it in the Investment Company Act of 1940 (Virginia Code 6.2-1013
Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
Joint resolution: A legislative measure which requires the approval of both chambers.
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.
landowner: means the person that has the usufruct, control, or occupation of the taxable real property as determined, pursuant to § Virginia Code 33.2-2000
landowner: means the person that is assessed with real property taxes pursuant to § Virginia Code 33.2-2100
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}
Legislative branch employee: means (i) a General Assembly member; (ii) a General Assembly member's legislative assistant or other legislative staff compensated in whole, or in part, with state appropriations, working full-time for the member; and (iii) all other full-time employees of each legislative branch agency of the Commonwealth. See Virginia Code 30-129.4
Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
licensed: means a state hospital and a licensed hospital that provides care and treatment for persons with mental illness. See Virginia Code 37.2-100
Licensed hospital: means a hospital or institution, including a psychiatric unit of a general hospital, that is licensed pursuant to the provisions of this title. See Virginia Code 37.2-100
Licensee: means a person to whom a license has been issued under this chapter. See Virginia Code 6.2-2600
Lien: A claim against real or personal property in satisfaction of a debt.
Limited access highway: means a highway specially designed for through traffic over or to which owners or occupants of abutting property or other persons have no easement of or right to light, air, view, or access by reason of the fact that their property abuts upon such highway, and access to which highway is controlled by the Authority, the Commonwealth, the City of Richmond, the County of Henrico, or the County of Chesterfield so as to give preference to through traffic by providing access connections with selected public highways only and by prohibiting crossings at grade or direct private driveway connections. See Virginia Code 33.2-2900
Lineal descendant: Direct descendant of the same ancestors.
Liquid assets: means (i) cash on hand; (ii) cash on deposit in Federal Home Loan Banks, Federal Reserve Banks, savings institutions, or in commercial banks that is withdrawable upon not more than 30 days' notice and that is not pledged as security for indebtedness; (iii) the liquid asset fund of the United States League of Saving Institutions; (iv) obligations of, or obligations that are fully guaranteed as to principal and interest by, the United States; or (v) any other asset that the Commissioner designates as a liquid asset. See Virginia Code 6.2-1100
Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
loan servicer: means any person, wherever located, that:
1. See Virginia Code 6.2-2600
Local government: means the governing body of any city, county or town in this Commonwealth. See Virginia Code 27-95
Locality: has the meaning assigned to it in § 1-221. See Virginia Code 33.2-100
Locality: means any county or city. See Virginia Code 33.2-2000
Locality: means the City of Charlottesville or the County of Albemarle. See Virginia Code 33.2-2700
Locality: means a county, city, or town as the context may require. See Virginia Code 1-221
Main office: means the office where a savings institution first commences to do business or, if the savings institution has more than one office, the office designated by the institution's board of directors as the institution's main office. See Virginia Code 6.2-1100
Maintenance: means (i) ordinary maintenance; (ii) maintenance replacement; (iii) operations that include traffic signal synchronization, incident management, and other intelligent transportation system functions; and (iv) any other categories of maintenance that may be designated by the Commissioner of Highways. See Virginia Code 33.2-100
Maltster: means a commercial producer of malt who (i) sells at least $10,000 worth of malt annually or (ii) has planted and maintains at least three acres of grains of a type used for the production of spirits. See Virginia Code 3.2-3007
Managing agent: means the fiduciary relationship assumed by an association upon the creation of an account that names the association as agent and confers investment authority upon the association. See Virginia Code 6.2-1081
Manufactured building: means a manufactured home or other structure designed for use as a dwelling or business facility that is manufactured and assembled at a location other than the site where such manufactured home or other structure is placed for use as a dwelling or business facility, or both. See Virginia Code 6.2-1100
mass transit: means passenger transportation by rubber-tired, rail, or other surface conveyance that provides shared ride services open to the general public on a regular and continuing basis. See Virginia Code 33.2-100
Material default: means any default by the private entity in the performance of its duties under subsection E of § Virginia Code 33.2-1800
Member: includes such persons with a joint and survivorship or other multiple owner or borrower relationship, which persons shall constitute a single membership for purposes of this chapter. See Virginia Code 6.2-1100
Member credit union: means a credit union which is a member of the corporation. See Virginia Code 6.2-1331
Members: means the counties, cities, towns, and institutions of higher education that comprise the authority. See Virginia Code 33.2-3800
Mental illness: means a disorder of thought, mood, emotion, perception, or orientation that significantly impairs judgment, behavior, capacity to recognize reality, or ability to address basic life necessities and requires care and treatment for the health, safety, or recovery of the individual or for the safety of others. See Virginia Code 37.2-100
Mine refuse impoundment: means a mine refuse pile that retains water that has been used in carrying out any part of the process necessary in the production or preparation of coal. See Virginia Code 45.2-617
Mine refuse pile: means a pile of coarse or fine coal refuse that is a result of the mining or screening process that may be stacked, spread, or graded and covers 20 acre-feet or more. See Virginia Code 45.2-617
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.
Multimodal transportation facility: means a transportation facility consisting of multiple modes of transportation. See Virginia Code 33.2-1800
Municipality: has the meaning assigned to it in § 1-224. See Virginia Code 33.2-100
Mutual association: means an association that is organized and operated exclusively for the benefit of its members and that does not issue shares of capital stock. See Virginia Code 6.2-1100
Mutual savings institution: means a savings institution that is organized and operated exclusively for the benefit of its members and that does not issue shares of capital stock. See Virginia Code 6.2-1100
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}
National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) ^{Source: OCC}
New trust office: means a trust office located in a host state that (i) is originally established by the trust institution as a trust office and (ii) does not become a trust office of the trust institution as a result of (a) the acquisition of another trust institution or trust office of another trust institution or (b) a merger, consolidation, or conversion involving any such trust institution or trust office. See Virginia Code 6.2-1065
Nonlegislative citizen member: means any natural person who is not a member of the General Assembly of Virginia. See Virginia Code 1-225
NVTC: means the Northern Virginia Transportation Commission. See Virginia Code 33.2-3400
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.
Office: means the Office of the State Inspector General. See Virginia Code 2.2-307
officer: includes members of the judiciary. See Virginia Code 2.2-3101
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}
Operating plan: means a plan submitted by an applicant for a certificate of authority, which plan establishes the policies and procedures a trust company will have in effect when the institution opens for business and thereafter (i) to avoid or resolve conflicts of interests, (ii) to prevent improper influences from affecting the actions of the trustee, (iii) to ensure that trust accounts are handled in accordance with recognized standards of fiduciary conduct, and (iv) to assure compliance with applicable laws and regulations. See Virginia Code 6.2-1013
Operating plan: means a plan that establishes the policies and procedures a private trust company will have in effect when the institution opens for business and thereafter (i) to ensure that trust accounts are handled in accordance with recognized standards of fiduciary conduct and (ii) to assure compliance with applicable laws and regulations. See Virginia Code 6.2-1074
operation: means to finance, maintain, improve, equip, modify, repair, or operate. See Virginia Code 33.2-1800
Operator: means any person who operates, controls, or supervises a retaining dam or a mine refuse impoundment. See Virginia Code 45.2-617
Oral argument: An opportunity for lawyers to summarize their position before the court and also to answer the judges' questions.
Out-of-state savings institution: means a savings institution that:
1. See Virginia Code 6.2-1148
Out-of-state trust institution: means a trust institution whose home state is a state other than the Commonwealth. See Virginia Code 6.2-1065
Oversight: Committee review of the activities of a Federal agency or program.
Owner: includes all individuals, incorporated companies, partnerships, societies, and associations having any title or interest in any property rights, easements, or franchises authorized to be acquired by this chapter. See Virginia Code 33.2-1700
Owner: includes all persons as defined in § 1-230 having any interest or title in and to property, rights, franchises, easements, and interests authorized to be acquired by this chapter. See Virginia Code 33.2-2200
Owner: includes all individuals, partnerships, associations, organizations, and corporations, the City of Richmond, the County of Henrico, the County of Chesterfield, and all public agencies and instrumentalities having any title to or interest in any property, rights, easements, and interests authorized to be acquired by this chapter. See Virginia Code 33.2-2900
Owning bank: means a bank owning 10 percent or more of the shares of a trust subsidiary. See Virginia Code 6.2-1047
Parent-subsidiary relationship: means a relationship that exists when one corporation directly or indirectly owns shares possessing more than 50 percent of the voting power of another corporation. See Virginia Code 2.2-3101
Participating town: means a town that has real property within its boundaries included within a district created pursuant to this chapter. See Virginia Code 33.2-2100
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.
Permissible fireworks: means any fountains that do not emit sparks or other burning effects to a distance greater than five meters (16. See Virginia Code 27-95
Person: shall include individuals, a trust, an estate, a partnership, an association, an order, a corporation, or any other legal or commercial entity;
6. See Virginia Code 8.01-2
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
Person: includes any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or any other legal or commercial entity and any successor, representative, agent, agency, or instrumentality thereof. See Virginia Code 1-230
Person under a disability: shall include :
a. See Virginia Code 8.01-2
Personal interest: means a financial benefit or liability accruing to an officer or employee or to a member of his immediate family. See Virginia Code 2.2-3101
Personal interest in a contract: means a personal interest that an officer or employee has in a contract with a governmental agency, whether due to his being a party to the contract or due to a personal interest in a business that is a party to the contract. See Virginia Code 2.2-3101
Personal interest in a transaction: means a personal interest of an officer or employee in any matter considered by his agency. See Virginia Code 2.2-3101
Personal property: All property that is not real property.
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.
Plan: means the Interstate 81 Corridor Improvement Plan adopted by the Board on December 5, 2018, and any updates or amendments made thereto in accordance with the provisions of this chapter. See Virginia Code 33.2-3600
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.
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.
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.
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.
Primary highway: means any highway in or component of the primary state highway system. See Virginia Code 33.2-100
Principal: means any person who, directly or indirectly, owns or controls (i) 10 percent or more of the outstanding stock of a stock corporation or (ii) a 10 percent or greater interest in any other type of entity. See Virginia Code 6.2-2600
Principal: means any person who, directly or indirectly, owns or controls (i) 10 percent or more of the outstanding stock of a stock corporation or (ii) a 10 percent or greater interest in a nonstock corporation or a limited liability company. See Virginia Code 6.2-1013
Private entity: means any natural person, corporation, general partnership, limited liability company, limited partnership, joint venture, business trust, public benefit corporation, nonprofit entity, or other business entity. See Virginia Code 33.2-1800
Private trust business: means acting as or performing the duties of a fiduciary in the regular course of its business for family members. See Virginia Code 6.2-1074
Private trust company: means a corporation or limited liability company that is organized to engage in private trust business under this article with one or more family members and that does not transact business with the general public. See Virginia Code 6.2-1074
Probable cause: A reasonable ground for belief that the offender violated a specific law.
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.
Process: includes subpoenas, the summons and complaint in a civil action, and process in statutory actions. See Virginia Code 1-237
Program: means an Interstate 81 Corridor Improvement Program. See Virginia Code 33.2-3600
Project: means any one or more of the following:
1. See Virginia Code 33.2-1700
Project: means a bridge or tunnel or a bridge and tunnel project, including the existing bridge and tunnel crossing operated by the Commission and all or a part of an additional and generally parallel bridge and tunnel crossing, from any point within the boundaries of the District to a point in the County of Northampton, including such approaches and approach highways as the Commission deems necessary to facilitate the flow of traffic in the vicinity of such project or to connect such project with the highway system or other traffic facilities in the Commonwealth, and including all overpasses, underpasses, interchanges, entrance plazas, toll houses, service stations, garages, restaurants, and administration, storage, and other buildings and facilities that the Commission may deem necessary for the operation of such project, together with all property, rights, franchises, easements, and interests that may be required by the Commission for the construction or the operation of such project. See Virginia Code 33.2-2200
Project: means any single facility constituting an Authority facility, as described in the resolution or trust agreement providing for its construction, including extensions and improvements thereof. See Virginia Code 33.2-2900
Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
Public entity: means the Commonwealth and any agency or authority thereof; any county, city, or town; and any other political subdivision of any of the foregoing, but does not include any public service company. See Virginia Code 33.2-1800
Public facilities: means (i) airports, landing fields, and air navigation facilities; (ii) educational facilities; (iii) flood control, bank and shore protection, watershed protection, and dams; (iv) hospital facilities; (v) judicial and court facilities; (vi) correctional facilities, including jails and penitentiaries; (vii) library facilities; (viii) military installations; (ix) parks so designated by the Commonwealth or by the locality in its comprehensive plan; (x) properties of historical significance so designated by the Commonwealth; (xi) law enforcement, fire, emergency medical, and rescue facilities; (xii) sanitary sewer, water or stormwater facilities; (xiii) transportation facilities including highways, roads, streets, and bridges, traffic signals, related easements and rights-of-way, mass transit, ports, and any components of federal, state, or local transportation facilities; (xiv) waste management facilities for hazardous, radioactive, or other waste; (xv) office facilities occupied by a public corporation; and (xvi) such other facilities that are necessary to the construction, maintenance, or operation of a public facility as listed in clauses (i) through (xv) and directly related thereto. See Virginia Code 1-219.1
Public highways: shall include public highways, roads, and streets, whether maintained by the Commonwealth or the City of Richmond or the County of Henrico or Chesterfield. See Virginia Code 33.2-2900
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 uses: means the mining, production, or marketing of coal for the purpose of providing and furnishing heat or power to the people of the Commonwealth. See Virginia Code 45.2-608
pyrotechnician: means any person engaged in the design, setup, and firing of any fireworks other than permissible fireworks either inside a building or structure or outdoors. See Virginia Code 27-95
Qualified education loan: includes a loan made to refinance a qualified education loan. See Virginia Code 6.2-2600
Qualifying transportation facility: means one or more transportation facilities developed and/or operated by a private entity pursuant to this chapter. See Virginia Code 33.2-1800
Quorum: The number of legislators that must be present to do business.
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 loan: means :
1. See Virginia Code 6.2-1100
Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Recess: A temporary interruption of the legislative business.
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}
Refund anticipation loan: means a loan, whether provided through a facilitator or by another entity such as a financial institution, in anticipation of, and whose payment is secured by, a customer's federal or state income tax refund or by both. See Virginia Code 6.2-2500
Refund anticipation loan fee: means any fee, charge, or other consideration imposed by a lender or a facilitator for a refund anticipation loan. See Virginia Code 6.2-2500
Refund anticipation loan fee schedule: means a list or table of refund anticipation loan fees that (i) includes three or more representative refund anticipation loan amounts; (ii) lists separately each fee or charge imposed, as well as a total of all fees imposed, related to the making of a refund anticipation loan; and (iii) includes, for each representative loan amount, the estimated annual percentage rate calculated under the guidelines established by the federal Truth in Lending Act (Virginia Code 6.2-2500
Region: means Planning District 4. See Virginia Code 33.2-3800
Registry: means the nationwide multistate licensing system and registry created by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators. See Virginia Code 6.2-2600
regulation: means any statement of general application, having the force of law, affecting the rights or conduct of any person, adopted by an agency in accordance with the authority conferred on it by applicable basic laws. See Virginia Code 30-73.1
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.
Remand: When an appellate court sends a case back to a lower court for further proceedings.
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.
Reserves: means the total of allowances for loan losses, regular, special, and any other type of funds held in reserve. See Virginia Code 6.2-1300
Responsible public entity: means a public entity, including local governments and regional authorities, that has the power to develop and/or operate the qualifying transportation facility. See Virginia Code 33.2-1800
Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
Retained earnings: means undivided earnings, regular reserve, reserve for contingencies, supplemental reserves, reserves for losses, and other appropriations from undivided earnings as designated by management or the Bureau. See Virginia Code 6.2-1300
Retaining dam: means an artificial barrier or obstruction that is designed to impound water, coal slurry, or silt (i) to an elevation of five feet or more above the upstream toe of the structure and has a storage volume of 20 acre-feet or more or (ii) to an elevation of 20 feet or more measured at the open channel spillway or from the crest of the dam in a closed system, regardless of storage volume. See Virginia Code 45.2-617
Revenue: means any or all fees, tolls, rents, receipts, assessments, taxes, money, and income derived by the district, including any cash contribution or payments made to the district by the Commonwealth, any political subdivision thereof, or any other source. See Virginia Code 33.2-2000
Revenue: means any or all fees, tolls, rents, receipts, assessments, taxes, money, and income derived by the district, including any cash contribution or payments made to the district by the Commonwealth, any political subdivision thereof, or any other source. See Virginia Code 33.2-2100
revenue bonds: means revenue bonds or revenue refunding bonds of the Authority issued under the provisions of this chapter. See Virginia Code 33.2-2900
Revenues: includes tolls and any other moneys received or pledged by the Board pursuant to this chapter, including legally available Transportation Trust Fund revenues and any federal highway reimbursements and any other federal highway assistance received by the Commonwealth. See Virginia Code 33.2-1700
Revenues: means all revenues, including income; earnings; user fees; lease payments; allocations; federal, state, regional, and local appropriations or the appropriations or other funds available to any political subdivision, authority, or instrumentality thereof; bond proceeds; equity investments, service payments, or any combination thereof arising out of or in connection with supporting the development and/or operation of a qualifying transportation facility, including money received as grants or otherwise from the United States of America, from any public entity, or from any agency or instrumentality of the foregoing in aid of such facility. See Virginia Code 33.2-1800
Revenues: means all fees, tolls, rents, rates, receipts, moneys, and income derived by the Authority through the ownership and operation of Authority facilities, and includes all cash contributions made to the Authority by the Commonwealth or any agency or department thereof, the City of Richmond, and the Counties of Henrico and Chesterfield not specifically dedicated by the contributor for a capital improvement. See Virginia Code 33.2-2900
Right of offset: Banks' legal right to seize funds that a guarantor or debtor may have on deposit to cover a loan in default. It is also known as the right of set-off. ^{Source: OCC}
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}
Roadway: means that portion of a highway improved, designed, or ordinarily used for vehicular travel. See Virginia Code 33.2-100
Savings account: means an interest-bearing account not subject to withdrawal by check or other negotiable instrument. See Virginia Code 6.2-1100
Savings bank: means a savings institution specifically chartered under the laws of the Commonwealth, another state or a territory of the United States, the District of Columbia, or the United States as a savings bank. See Virginia Code 6.2-1100
Savings institution: means a savings and loan association, a building and loan association, or savings bank, whether organized as a capital stock corporation or a nonstock corporation, that is authorized by law to accept deposits and to hold itself out to the public as engaged in the savings institution business. See Virginia Code 6.2-1100
Savings institution holding company: means any person who, directly or indirectly, or acting in concert with one or more other companies or with one or more subsidiaries or affiliates, acquires, owns, controls or holds with power to vote 25 percent or more of the voting shares of a stock savings institution, or which controls in any manner the election of a majority of the directors of such institution. See Virginia Code 6.2-1100
Secondary state highway system: consists of all public highways, causeways, bridges, landings, and wharves in the counties of the Commonwealth not included in the primary state highway system and that have been accepted by the Department of Transportation for supervision and maintenance. See Virginia Code 33.2-100
Secretary: means the Secretary of Transportation. See Virginia Code 33.2-100
Securitization transaction: means a transaction relating to the issuance or transfer by a special purpose entity of beneficial interests or undivided interests, which entitle their holders to receive payments or other distributions that depend primarily on the cash flow from assets, including financial assets and other credit exposures, in which that special purpose entity has rights or the power to transfer rights. See Virginia Code 6.2-2400
Service contract: means a contract entered into between a public entity and the private entity pursuant to § Virginia Code 33.2-1800
Service corporation: means a stock corporation, all of the stock of which is owned (i) directly by one or more savings institutions or (ii) indirectly through a subsidiary or subsidiaries of one or more savings institutions. See Virginia Code 6.2-1100
Service of process: The service of writs or summonses to the appropriate party.
Service payments: means payments to the private entity in connection with the development and/or operation of a qualifying transportation facility pursuant to a service contract. See Virginia Code 33.2-1800
Servicing: means :
1. See Virginia Code 6.2-2600
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.
Sexual harassment: means unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature when such conduct explicitly or implicitly affects an individual's employment, unreasonably interferes with an individual's work performance, or creates an intimidating, hostile, or offensive work environment. See Virginia Code 30-129.4
Share account: means a balance held by a credit union and established by a member in accordance with standards specified by the credit union, including balances designated as shares, share certificates, share draft accounts, or other names. See Virginia Code 6.2-1300
Shares: means the interest of a member having an account in a credit union. See Virginia Code 6.2-1300
Shares: means the interest of a member having a savings account in a member credit union. See Virginia Code 6.2-1331
Silt: means fine particles resulting from a mining operation, suspended in or deposited by water. See Virginia Code 45.2-617
Spirits: means the same as that term is defined in § Virginia Code 3.2-3007
State: includes District of Columbia;
(f) "Transit facilities" means all real and personal property located in the Zone, necessary or useful in rendering transit service between points within the Zone, by means of rail, bus, water or air and any other mode of travel, including, without limitation, tracks, rights-of-way, bridges, tunnels, subways, rolling stock for rail, motor vehicle, marine and air transportation, stations, terminals and ports, areas for parking and all equipment, fixtures, buildings and structures and services incidental to or required in connection with the performance of transit service;
(g) "Transit services" means the transportation of persons and their packages and baggage by means of transit facilities between points within the Zone including the transportation of newspapers, express and mail between such points, and charter service which originates within the Zone but does not include taxicab service or individual-ticket-sales sightseeing operations;
(h) "Transit Zone" or "Zone" means the Washington Metropolitan Area Transit Zone created and described in Section 3 as well as any additional area that may be added pursuant to Section 83(a) of this Compact; and
(i) "WMATC" means Washington Metropolitan Area Transit Commission. See Virginia Code 33.2-3100
State: means the Commonwealth of Virginia. See Virginia Code 33.2-1800
State: when applied to a part of the United States, includes any of the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the United States Virgin Islands. See Virginia Code 1-245
State agency: means any agency, institution, board, bureau, commission, council, or instrumentality of state government in the executive branch listed in the appropriation act. See Virginia Code 2.2-307
state agency: means the same as that term is defined in § Virginia Code 1-206
State association: means an association incorporated under the laws of the Commonwealth. See Virginia Code 6.2-1100
State bank: means a bank incorporated under the laws of the Commonwealth and that has its principal business office in the Commonwealth. See Virginia Code 6.2-1100
State Fire Marshal: means the State Fire Marshal as provided for by § Virginia Code 27-95
State hospital: means a hospital, psychiatric institute, or other institution operated by the Department that provides care and treatment for persons with mental illness. See Virginia Code 37.2-100
State savings bank: means a savings bank organized and incorporated under the provisions of this chapter. See Virginia Code 6.2-1100
State savings institution: means a savings institution incorporated under the laws of the Commonwealth. See Virginia Code 6.2-1100
State trust company: means a corporation organized or reorganized as a trust company under Article 2 (§ Virginia Code 6.2-1065
State trust institution: means a trust institution having its principal office in the Commonwealth. See Virginia Code 6.2-1065
Statute: A law passed by a legislature.
Stock association: means an association that issues shares of capital stock. See Virginia Code 6.2-1100
Stock institution: means a savings institution that issues shares of capital stock. See Virginia Code 6.2-1100
Subpoena: A command to a witness to appear and give testimony.
Subsidiary bank: means a bank authorized to exercise trust powers, at least 80 percent of the outstanding shares of which are owned directly or indirectly through a subsidiary by a Virginia bank holding company. See Virginia Code 6.2-1047
subsidiary trust company: means a corporation organized under Virginia Code 6.2-1000
Substance abuse: means the use of drugs, enumerated in the Virginia Drug Control Act (§ Virginia Code 37.2-100
Summons: Another word for subpoena used by the criminal justice system.
Supreme Court: means the Supreme Court of Virginia. See Virginia Code 1-249
sworn: means "affirm" or "affirmed. See Virginia Code 1-250
Tax: includes , but is not limited to, federal, state or local income, gift, estate, generation-skipping transfer, or inheritance tax. See Virginia Code 6.2-1074
Tax return: means a return, declaration, statement, refund claim, or other document required to be made or filed in connection with state or federal income taxes. See Virginia Code 6.2-2500
Testify: Answer questions in court.
Testimony: Evidence presented orally by witnesses during trials or before grand juries.
Toll project: means a project financed in whole or in part through the issuance of revenue bonds that are secured by toll revenues generated by the project. See Virginia Code 33.2-1700
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 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
Training center: means a facility operated by the Department that provides training, habilitation, or other individually focused supports to persons with intellectual disability. See Virginia Code 37.2-100
Transaction: means any matter considered by any governmental or advisory agency, whether in a committee, subcommittee, or other entity of that agency or before the agency itself, on which official action is taken or contemplated. See Virginia Code 2.2-3101
Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
Transportation facility: means any road, bridge, tunnel, overpass, ferry, airport, mass transit facility, vehicle parking facility, port facility, or similar commercial facility used for the transportation of persons or goods, together with any buildings, structures, parking areas, appurtenances, and other property needed to operate such facility; however, "transportation facility" does not include a commercial or retail use or enterprise not essential to the transportation of persons or goods. See Virginia Code 33.2-1800
Transportation improvements: means any real or personal property acquired, constructed, improved, or used in constructing or improving any (i) public mass transit system or (ii) highway, or portion or interchange thereof, including parking facilities located within a district created pursuant to this chapter. See Virginia Code 33.2-2000
Transportation improvements: includes public mass transit systems, public highways, and all buildings, structures, approaches, and facilities thereof and appurtenances thereto, rights-of-way, bridges, tunnels, stations, terminals, and all related equipment and fixtures. See Virginia Code 33.2-2100
Transportation improvements: includes public highways and all buildings, structures, approaches, and facilities thereof and appurtenances thereto, rights-of-way, bridges, tunnels, and all related equipment and fixtures. See Virginia Code 33.2-2700
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 account: means the account established pursuant to a trust, estate, or other fiduciary relationship that has been established with an association. See Virginia Code 6.2-1081
Trust business: means the holding out by a person or legal entity to the public at large by advertising, solicitation or other means that the person or legal entity is available to act as a fiduciary in the Commonwealth or is accepting and undertaking to perform the duties of a fiduciary in the regular course of its business. See Virginia Code 6.2-1000
Trust company: means a corporation, including an affiliated trust company, that is authorized to engage in the trust business under Article 2 (§ Virginia Code 6.2-1000
Trust company: means a state trust company or any other entity chartered to act as a fiduciary that is not a bank. See Virginia Code 6.2-1065
Trust company holding company: means a corporation that controls a trust company. See Virginia Code 6.2-1000
Trust department: means that group or groups of officers and employees of an association, or of an affiliate of an association, to whom are assigned the performance of fiduciary services by the association. See Virginia Code 6.2-1081
Trust institution: means any (i) bank authorized to engage in the trust business, (ii) trust company, or (iii) trust subsidiary. See Virginia Code 6.2-1000
Trust institution: means a bank or trust company chartered by a state bank supervisory agency or by the Office of the Comptroller of Currency. See Virginia Code 6.2-1065
Trust office: means an office at which a trust institution engages in a trust business and not in the banking business. See Virginia Code 6.2-1065
Trust subsidiary under common ownership: means a trust subsidiary at least 80 percent or more of which is owned, directly or indirectly through a subsidiary, by the same Virginia bank holding company as owns, directly or indirectly through a subsidiary, at least 80 percent of the stock of the subsidiary bank substituted as fiduciary. See Virginia Code 6.2-1047
Trustee: A person or institution holding and administering property in trust.
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}
Undertaking: means all of the projects authorized to be acquired or constructed under this chapter. See Virginia Code 33.2-1700
Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
Uniform Transfers to Minors Act: means Chapter 19 of Virginia Code 6.2-1081
United States: includes the 50 states, the District of Columbia the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands and the United States Virgin Islands. See Virginia Code 1-255
Urban highway system: consists of those public highways, or portions thereof, not included in the systems of state highways, to which the Commonwealth Transportation Board directs payments pursuant to § Virginia Code 33.2-100
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.
Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
Venue: The geographical location in which a case is tried.
Verdict: The decision of a petit jury or a judge.
Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.
Virginia bank holding company: means a bank holding company that, directly or indirectly through a subsidiary, owns or controls a bank the main office of which is located in the Commonwealth. See Virginia Code 6.2-1047
Virginia savings institution: means a savings institution, including a state savings bank, that:
1. See Virginia Code 6.2-1148
Virginia savings institution holding company: means a savings institution holding company, including the holding company of a state savings bank, that:
1. See Virginia Code 6.2-1148
Virginia state bank: means a bank chartered under the laws of the Commonwealth and permitted to engage in the trust business pursuant to § Virginia Code 6.2-1065
Viticulture: means the cultivation and study of grapes and grapevines. See Virginia Code 3.2-3000
Water: means liquid or slurry resulting from the processing of coal in mining operations. See Virginia Code 45.2-617
Wine: means an alcoholic beverage as defined in § Virginia Code 3.2-3000
winery: means an "establishment" as defined in § Virginia Code 3.2-3000
Withdrawal value: means the amount credited to an account less lawful deductions therefrom, as shown by the records of the savings institution. See Virginia Code 6.2-1100
WMATA: means the Washington Metropolitan Area Transit Authority. See Virginia Code 33.2-3100.1
WMATA: means the Washington Metropolitan Area Transit Authority. See Virginia Code 33.2-3400
Writ: A formal written command, issued from the court, requiring the performance of a specific act.

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Virginia Code > Title 3.2 > Subtitle II > Part C – Other Commodity-Related Boards, Councils, and Foundations

Terms Used In Virginia Code > Title 3.2 > Subtitle II > Part C - Other Commodity-Related Boards, Councils, and Foundations

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