Terms Used In Virginia Code > Title 6.2 > Subtitle II > Chapter 10 > Article 3 - Trust Subsidiaries.

• 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
• 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.
• 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.
• 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
• 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.
• Bank: has the meaning assigned to it in § Virginia Code 6.2-1047
• Bank holding company: has the meaning assigned to it in § Virginia Code 6.2-1047
• 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
• Board: means the Commonwealth Transportation Board. 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
• Commission: means the State Corporation Commission. See Virginia Code 33.2-1800
• Commission: means the State Corporation Commission. See Virginia Code 6.2-100
• Commissioner: means the Commissioner of Financial Institutions. See Virginia Code 6.2-100
• 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
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• 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
• development: means to plan, design, develop, finance, lease, acquire, install, construct, or expand. See Virginia Code 33.2-1800
• 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
• 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.
• Fiduciary: A trustee, executor, or administrator.
• Fiduciary capacity: means every capacity in which a trust institution is granted the right to act pursuant to § Virginia Code 6.2-1047
• 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
• 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.
• 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
• 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
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• 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
• 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}
• Lien: A claim against real or personal property in satisfaction of a debt.
• Locality: has the meaning assigned to it in § 1-221. See Virginia Code 33.2-100
• 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
• Material default: means any default by the private entity in the performance of its duties under subsection E of § Virginia Code 33.2-1800
• 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
• 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.
• operation: means to finance, maintain, improve, equip, modify, repair, or operate. See Virginia Code 33.2-1800
• Oversight: Committee review of the activities of a Federal agency or program.
• Owning bank: means a bank owning 10 percent or more of the shares of a trust subsidiary. See Virginia Code 6.2-1047
• 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
• 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.
• 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
• Process: includes subpoenas, the summons and complaint in a civil action, and process in statutory actions. See Virginia Code 1-237
• 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
• 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 property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• 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
• 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
• Secretary: means the Secretary of Transportation. See Virginia Code 33.2-100
• 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
• 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: means the Commonwealth of Virginia. See Virginia Code 33.2-1800
• 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
• 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
• 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
• 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.
• 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
• 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 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 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
• 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
• 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.
• 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