§ 46.2-1527.1 Motor Vehicle Transaction Recovery Fund established.
§ 46.2-1527.2 Bonding requirements for applicants for an original license.
§ 46.2-1527.3 Recovery from Fund, generally.
§ 46.2-1527.4 Opportunity to intervene.
§ 46.2-1527.5 Limitations on recovery from Fund.
§ 46.2-1527.6 Assignment of claimant’s rights to the Board; payment of claims.
§ 46.2-1527.7 Revocation of license or certificate of registration on payment from the Fund.
§ 46.2-1527.8 No waiver by the Board of disciplinary action against licensee or registrant.

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Terms Used In Virginia Code > Title 46.2 > Subtitle IV > Chapter 15 > Article 3.1 - . Motor Vehicle Transaction Recovery Fund.

  • 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.
  • 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
  • Board: means the Motor Vehicle Dealer Board. See Virginia Code 46.2-1500
  • Contract: A legal written agreement that becomes binding when signed.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • 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.
  • Fraud: Intentional deception resulting in injury to another.
  • Fund: means the Motor Vehicle Dealer Board Fund. See Virginia Code 46.2-1500
  • 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
  • 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.
  • 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
  • motor vehicle: includes trailers, as defined in this section, and does not include (i) manufactured homes, sales of which are regulated under Virginia Code 46.2-1500
  • Motorcycle: means every motor vehicle designed to travel on not more than three wheels in contact with the ground, except any vehicle within the term "farm tractor" or "moped" as defined in § Virginia Code 46.2-1500
  • Original license: means a motor vehicle dealer license issued to an applicant who has never been licensed as a motor vehicle dealer in Virginia or whose Virginia motor vehicle dealer license has been expired for more than 30 days. See Virginia Code 46.2-1500
  • 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
  • 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.
  • salesperson: means (i) any person who is hired as an employee by a motor vehicle dealer to sell or exchange motor vehicles and who receives or expects to receive a commission, fee, or any other consideration from the dealer; (ii) any person who supervises salespersons employed by a motor vehicle dealer, whether compensated by salary or by commission; (iii) any person, compensated by salary or commission by a motor vehicle dealer, who negotiates with or induces a customer to enter into a security agreement on behalf of a dealer; or (iv) any person who is licensed as a motor vehicle dealer and who sells or exchanges motor vehicles. See Virginia Code 46.2-1500
  • Service of process: The service of writs or summonses to the appropriate party.
  • 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
  • Trailer: means every vehicle without motive power designed for carrying property or passengers wholly on its own structure and for being drawn by another motor vehicle, including semitrailers but not manufactured homes, watercraft trailers, camping trailers, or travel trailers. See Virginia Code 46.2-1500
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Vehicle: means every device in, on or by which any person or property is or may be transported or drawn on a highway, except personal delivery devices and devices moved by human power or used exclusively on stationary rails or tracks. See Virginia Code 46.2-100