Terms Used In Virginia Code > Title 33.2 > Subtitle IV > Chapter 32 - Metropolitan Planning Organizations

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Board: means the Commonwealth Transportation Board. See Virginia Code 33.2-100
• Commission: means the State Corporation Commission. See Virginia Code 6.2-100
• 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
• Department: means the Department of Transportation. See Virginia Code 33.2-100
• Financial institution: means any bank, trust company, savings institution, industrial loan association, consumer finance company, or credit union. See Virginia Code 6.2-100
• 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}
• 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
• 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
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Process: includes subpoenas, the summons and complaint in a civil action, and process in statutory actions. See Virginia Code 1-237
• Shares: means the interest of a member having an account in a credit union. See Virginia Code 6.2-1300
• 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