Terms Used In Virginia Code > Title 6.2 > Subtitle II > Chapter 10 - Entities Conducting Trust Business

• 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
• 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 trust company: means a trust company that is controlled by a trust company holding company. See Virginia Code 6.2-1000
• Agent: has the meaning assigned to it in § Virginia Code 6.2-1013
• Agreement: means the bargain of the parties in fact, as found in their language or inferred from other circumstances and from rules, regulations, and procedures given the effect of agreements under laws otherwise applicable to a particular transaction. See Virginia Code 59.1-480
• 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.
• 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.
• 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
• Assistive device dealer: means a person or company that is in the business of selling assistive devices, including a manufacturer who sells assistive technology devices directly to consumers. See Virginia Code 59.1-470
• Assistive device lessor: means a person or company that leases an assistive device to a consumer, or who holds the lessor's rights, under a written lease. See Virginia Code 59.1-470
• Association: has the meaning assigned to it in § Virginia Code 6.2-1081
• 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.
• Authorized dealer: means any seller of an assistive device that (i) has, within a specified geographic area, an exclusive distribution arrangement with any person or entity that manufacturers or assembles such device or (ii) is designated by the person or company that manufactures or assembles such device to repair or accept for repair such device. See Virginia Code 59.1-470
• Automated transaction: means a transaction conducted or performed, in whole or in part, by electronic means or electronic records, in which the acts or records of one or both parties are not reviewed by an individual in the ordinary course in forming a contract, performing under an existing contract, or fulfilling an obligation required by the transaction. See Virginia Code 59.1-480
• 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.
• 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.
• 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 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
• Broker-dealer: has the meaning assigned to it in § Virginia Code 6.2-1013
• City: has the meaning assigned to it in § 1-208. See Virginia Code 33.2-100
• 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.
• Collateral costs: means expenses incurred by a consumer in connection with the repair of a nonconformity, including the reasonable costs of obtaining an alternative assistive device. See Virginia Code 59.1-470
• Commission: means compensation accruing to a sales representative for payment by a principal, the rate of which is expressed as a percentage of the total dollar amount of orders or sales or as a specified amount per order or per sale. See Virginia Code 59.1-455
• 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 State Corporation Commission. See Virginia Code 6.2-100
• Commissioner: means the Commissioner of the Department of Agriculture and Consumer Services or his designee. See Virginia Code 59.1-445
• 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
• 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
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Component governments: means the counties and cities composing a transportation district and the various departments, bureaus, and divisions of such counties and cities. See Virginia Code 33.2-1901
• Comprehensive agreement: means the comprehensive agreement between the private entity and the responsible public entity required by § Virginia Code 33.2-1800
• Computer program: means a set of statements or instructions to be used directly or indirectly in an information processing system in order to bring about a certain result. See Virginia Code 59.1-480
• 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
• Consumer: means :

  1. See Virginia Code 59.1-470

• Contract: means the total legal obligation resulting from the parties' agreement as affected by this chapter and other applicable law. See Virginia Code 59.1-480
• 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.
• Copyright owner: means the owner of a copyright of a nondramatic musical or similar work recognized and enforceable under the copyright laws of the United States pursuant to Title 17 of the United States Code, P. See Virginia Code 59.1-460
• 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

• County: means any county having a population of more than 500,000. See Virginia Code 33.2-2100
• 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.
• Demonstrator: means an assistive device used primarily for the purpose of demonstration to the public. See Virginia Code 59.1-470
• Department: means the Department of Transportation. See Virginia Code 33.2-100
• 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
• device: means any new device, including a demonstrator, that a consumer purchases or accepts transfer of in this Commonwealth which is used for a major life activity or any other assistive device that enables a person with a disability to communicate, see, hear, or maneuver. See Virginia Code 59.1-470
• 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 a transportation district authorized to be created by this chapter. See Virginia Code 33.2-1901
• district commission: means the governing body of a district. See Virginia Code 33.2-1901
• Docket: A log containing brief entries of court proceedings.
• Donor: The person who makes a gift.
• Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See Virginia Code 59.1-480
• Electronic agent: means a computer program or an electronic or other automated means used independently to initiate an action or respond to electronic records or performances in whole or in part, without review or action by an individual. See Virginia Code 59.1-480
• Electronic record: means a record created, generated, sent, communicated, received, or stored by electronic means. See Virginia Code 59.1-480
• Electronic signature: means an electronic sound, symbol, or process attached to or logically associated with a record and executed or adopted by a person with the intent to sign the record. See Virginia Code 59.1-480
• 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}
• 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
• 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.
• Event: means any professional concert, live entertainment event, professional sporting or athletic event, or professional theatrical production open to the public for which tickets are ordinarily sold. See Virginia Code 59.1-466.5
• 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
• Executor: A male person named in a will to carry out the decedent
• facilities: means all those matters and things utilized in rendering transportation service by means of rail, bus, water, or air and any other mode of travel, including tracks, rights-of-way, bridges, tunnels, subways, and rolling stock for rail, motor vehicle, marine, and air transportation; stations, terminals, and ports; areas for parking; buildings; structures; and all equipment, fixtures, and business activities reasonably required for the performance of transportation service, but does not include any such facilities owned by any person, company, association, or corporation the major part of whose transportation service extends beyond a transportation district created in this chapter. See Virginia Code 33.2-1901
• 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 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 highway reimbursements: means all federal-aid highway construction reimbursements and any other federal highway assistance received from time to time by the Commonwealth under or in accordance with Title 23 of the United States Code or any successor program established under federal law from the Federal Highway Administration and any successor or additional federal agencies. See Virginia Code 33.2-1511
• 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}
• Fiduciary: A trustee, executor, or administrator.
• 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
• 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.
• 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}
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Governing bodies: means the boards of supervisors of counties and councils of cities composing a transportation district. See Virginia Code 33.2-1901
• 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
• 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.
• 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 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
• 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
• Information: means data, text, images, sounds, codes, computer programs, software, databases, or the like. See Virginia Code 59.1-480
• Information processing system: means an electronic system for creating, generating, sending, receiving, storing, displaying, or processing information. See Virginia Code 59.1-480
• 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.
• 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
• 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
• Internet ticketing platform: means a marketplace or exchange that enables consumers to purchase and sell tickets to events. See Virginia Code 59.1-466.5
• 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
• 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
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• 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 a county, city, or town as the context may require. See Virginia Code 1-221
• 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
• 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
• Manufacturer: means a person or company that manufactures or assembles assistive devices and agents of that person or company, including an authorized dealer, an importer, a distributor, factory branch, distributor branch and any warrantors of the manufacturer's assistive device, but does not include a professional who fabricates, without charge, a device for use in the course of treatment. See Virginia Code 59.1-470
• 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
• Metropolitan area: means a metropolitan statistical area as defined by the U. See Virginia Code 33.2-1901
• 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
• 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}
• 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
• Nonconformity: means a condition or defect that significantly impairs the use, value, function or safety of an assistive device or any of its components, but does not include a condition or defect of the device that is the result of (i) abuse, misuse or neglect by a consumer, (ii) modifications or alterations not authorized by the manufacturer, (iii) normal wear, (iv) normal use which may be resolved through a fitting adjustment, routine maintenance, preventative maintenance or proper care, or (v) a consumer's failure to follow any manufacturer's written service and maintenance guidelines furnished to the customer at the time of purchase. See Virginia Code 59.1-470
• Notes: means those notes authorized and issued pursuant to § Virginia Code 33.2-1511
• Oath: A promise to tell the truth.
• Oath: includes affirmation. See Virginia Code 1-228
• 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 a person or subsidiary thereof that owns, operates, or controls a place of entertainment. See Virginia Code 59.1-466.5
• Oral argument: An opportunity for lawyers to summarize their position before the court and also to answer the judges' questions.
• 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
• Owning bank: means a bank owning 10 percent or more of the shares of a trust subsidiary. See Virginia Code 6.2-1047
• 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
• Performing group: means a vocal or instrumental group seeking to use the name of another group that has previously released a commercial sound recording under that name. See Virginia Code 59.1-466.1
• Performing rights society: means an association or corporation that licenses the public performance of nondramatic musical works on behalf of copyright owners, such as the American Society of Composers, Authors and Publishers (ASCAP), Broadcast Music, Inc. See Virginia Code 59.1-460
• 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 an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public body, public corporation, or any other legal or commercial entity. See Virginia Code 59.1-480
• 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: means an individual, partnership, association, or corporation or any governmental agency or authority. See Virginia Code 33.2-1901
• 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.
• 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.
• 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
• Primary ticket provider: means a provider of ticketing services, or an agent of such provider, that engages in the original sale of tickets for an event. See Virginia Code 59.1-466.5
• Principal: means a person who manufactures, produces, imports or distributes a product for wholesale and who contracts with a sales representative to solicit orders or sales for such product and compensates the sales representative, in whole or in part, by commission. See Virginia Code 59.1-455
• 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
• Process: includes subpoenas, the summons and complaint in a civil action, and process in statutory actions. See Virginia Code 1-237
• Project: means any one or more of the following:

  1. See Virginia Code 33.2-1700

• Project-specific reimbursements: means the federal highway reimbursements received by the Commonwealth only with respect to the project or projects to be financed by the Notes or any series thereof. See Virginia Code 33.2-1511
• Proprietor: means the owner of a retail establishment, restaurant, inn, bar, tavern, sports or entertainment facility or any other similar place of business or professional office located in the Commonwealth in which the public may assemble and in which nondramatic musical works or similar copyrighted works may be performed, broadcast, or otherwise transmitted for the enjoyment of members of the public there assembled. See Virginia Code 59.1-460
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Public corporation: means the Commonwealth of Virginia or any political subdivision thereof or any incorporated municipality therein or any public agency of the Commonwealth or of any political subdivision thereof or of any municipality therein. See Virginia Code 1-219.1
• 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
• Purchaser: means any person who enters into an agreement in whole or in part within this Commonwealth with a travel club for travel services. See Virginia Code 59.1-445
• Purchaser: means an individual who purchases a ticket to an event. See Virginia Code 59.1-466.5
• 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
• 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
• 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 property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Reasonable attempt to repair: means that within one year after the date of first delivery of the assistive device:

  1. See Virginia Code 59.1-470

• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Virginia Code 59.1-480
• Recording group: means a vocal or instrumental group at least one of whose members has previously released a commercial sound recording under that group's name and in which the member or members have a legal right by virtue of use or operation under the group name without having abandoned the name or affiliation with the group. See Virginia Code 59.1-466.1
• Resale: means the sale of a ticket other than the original sale of a ticket by a primary ticket provider. See Virginia Code 59.1-466.5
• Reseller: means a person that sells or offers to sell tickets for resale. See Virginia Code 59.1-466.5
• 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.
• 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
• 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
• Rights holder: means any person or entity that has the initial ownership rights to sell a ticket to an event for which tickets for entry by the public are required and does not include a primary ticket provider unless the primary ticket provider is also the rights holder. See Virginia Code 59.1-466.5
• royalties: means the fees payable to a copyright owner or performing rights society for the public performance of nondramatic musical or other similar works. See Virginia Code 59.1-460
• Sales representative: means a person other than an employee who contracts with a principal to solicit wholesale orders or sales and who is compensated, in whole or in part, by commission, but shall not include a person who purchases exclusively for his own account for resale. See Virginia Code 59.1-455
• Secretary: means the Secretary of Transportation. See Virginia Code 33.2-100
• Security procedure: means a procedure employed for the purpose of verifying that an electronic signature, record, or performance is that of a specific person or for detecting changes or errors in the information in an electronic record. See Virginia Code 59.1-480
• Seller: means any person on whose behalf or for whose benefit a telephone solicitation call offering or advertising the person's property, goods, or services is made or initiated. See Virginia Code 59.1-510
• Series: means any grouping of Notes issued as designated as such by the Board as necessary or desirable for administrative convenience, satisfaction of federal tax or securities law requirements, or any similar purpose. See Virginia Code 33.2-1511
• Service contract: means a contract entered into between a public entity and the private entity pursuant to § Virginia Code 33.2-1800
• 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
• 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.
• Sound recording: means a work that results from the fixation on a material object of a series of musical, spoken, or other sounds regardless of the nature of the material object, such as a disk, tape, or other phono-record, in which the sounds are embodied. See Virginia Code 59.1-466.1
• State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Virginia Code 59.1-480
• 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 and the District of Columbia. See Virginia Code 33.2-1901
• state agency: means the same as that term is defined in § Virginia Code 1-206
• State Fire Marshal: means the State Fire Marshal as provided for by § Virginia Code 27-95
• 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.
• 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
• such agency: means an agency authorized by, or arising from action of, the General Assembly to plan for or provide transportation facilities and service for a metropolitan area located wholly or in part in the Commonwealth. See Virginia Code 33.2-1901
• 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
• Telephone solicitation call: means (i) any telephone call made or initiated to any natural person's residence in the Commonwealth, to any landline or wireless telephone with a Virginia area code, or to a landline or wireless telephone registered to any natural person who is a resident of the Commonwealth or (ii) any text message sent to any wireless telephone with a Virginia area code or to a wireless telephone registered to any natural person who is a resident of the Commonwealth, for the purpose of offering or advertising any property, goods, or services for sale, lease, license, or investment, including offering or advertising an extension of credit or for the purpose of fraudulent activity, including engaging in any conduct that results in the display of false or misleading caller identification information on the called person's telephone. See Virginia Code 59.1-510
• Telephone solicitor: means any person who makes or initiates, or causes another person to make or initiate, a telephone solicitation call on its own behalf or for its own benefit or on behalf of or for the benefit of a seller. See Virginia Code 59.1-510
• Testify: Answer questions in court.
• 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
• Transaction: means an action or set of actions occurring between two or more persons relating to the conduct of business, commercial, or governmental affairs. See Virginia Code 59.1-480
• 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
• Travel club: means a for-profit organization that provides, in return for either an advance fee for membership or an annual charge for membership of more than $100, the privilege for its members or participants to arrange or obtain future travel services through or from the organization. See Virginia Code 59.1-445
• Travel services: means transportation by carrier; accommodations; rental of motor vehicles; or any other service related to travel. See Virginia Code 59.1-445
• 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.
• Undertaking: means all of the projects authorized to be acquired or constructed under this chapter. See Virginia Code 33.2-1700
• 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
• URL: means the Uniform Resource Locator associated with an online website. See Virginia Code 59.1-466.5
• 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.
• Venue: The geographical location in which a case is tried.
• Verdict: The decision of a petit jury or a judge.
• 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 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
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.