West Virginia Code 46A-6D-2 – Definitions
Current as of: 2023 | Check for updates
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Terms Used In West Virginia Code 46A-6D-2
- 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.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- item: means any item or service with monetary value. See West Virginia Code 46A-6D-2
- 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.
- Person: means any natural person, corporation, trust, partnership, association and any other legal entity. See West Virginia Code 46A-6D-2
(a) "Anything of value", "item of value" or "item" means any item or service with monetary value.
(b) "Handling charge" means any charge, fee or sum of money which is paid by a consumer to receive a prize, gift or any item of value, including, but not limited to, promotional fees, redemption fees, registration fees or delivery costs.
(c) "Person" means any natural person, corporation, trust, partnership, association and any other legal entity.