Terms Used In Virginia Code > Title 8.2 > Part 4 - Title, Creditors and Good Faith Purchasers

• Act: means the federal Secure and Fair Enforcement for Mortgage Licensing Act, Title V (§ 1501 et seq. See Virginia Code 6.2-1700
• Agency: means any person that provides or offers to provide debt management plans for consumers. See Virginia Code 6.2-2000
• Animal: means any organism of the kingdom Animalia, other than a human being. See Virginia Code 3.2-5900
• Animal food manufacturer: means any person engaged in the business of preparing animal (including poultry) food derived wholly or in part from livestock or poultry carcasses or parts or products of such carcasses. See Virginia Code 3.2-5400
• 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}
• Appraisal: A determination of property value.
• 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
• Authorized delegate: means a person designated or appointed by a licensee to sell money orders or provide money transmission services on behalf of the licensee. See Virginia Code 6.2-1900
• 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.
• Bequest: Property gifted by will.
• Board: means the Virginia Waste Management Board. See Virginia Code 10.1-1400
• Broker: means any person engaged in the business of buying or selling livestock products or poultry products on commission, or otherwise negotiating purchases or sales of such articles other than for his own account or as an employee of another person. See Virginia Code 3.2-5400
• Buyer: means a person who buys or contracts to buy goods. See Virginia Code 8.2-103
• Certification form: means a certification form or declaration completed by a certifying agency that is required by federal immigration law certifying that a person is a victim of qualifying criminal activity. See Virginia Code 9.1-1500
• Certifying agency: means a state or local law-enforcement agency, an attorney for the Commonwealth, the Attorney General, or any other agency or department employing law-enforcement officers as defined in § 9. See Virginia Code 9.1-1500
• Certifying official: means the head of the certifying agency, a law-enforcement officer as defined in § 9. See Virginia Code 9.1-1500
• Check: means a draft drawn on the account of an individual at a depository institution. See Virginia Code 6.2-1800
• Chief: means the Chief of the Division of Mines of the Department of Energy. See Virginia Code 45.2-100
• Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
• company: shall mean all corporations created by acts of the General Assembly of Virginia, or under the general incorporation laws of this Commonwealth, or doing business therein, and shall exclude all municipal corporations, other political subdivisions, and public institutions owned or controlled by the Commonwealth; and the term "the Commission" shall mean the State Corporation Commission. See Virginia Code 12.1-1
• Composting: means the manipulation of the natural aerobic process of decomposition of organic materials to increase the rate of decomposition. See Virginia Code 10.1-1400
• Composting: means the natural process in which beneficial microbes reduce dead poultry into a biologically safe by-product. See Virginia Code 3.2-6024
• Consumer: means an individual residing in the Commonwealth who owes money to one or more creditors, for personal, family, or household purposes, including an individual who owes money jointly with one or more other individuals. See Virginia Code 6.2-2000
• Contract for sale: includes both a present sale of goods and a contract to sell goods at a future time. See Virginia Code 8.2-106
• Conviction: A judgement of guilt against a criminal defendant.
• Courts of record: means the Supreme Court of Virginia, the Court of Appeals of Virginia, and the circuit courts. See Virginia Code 1-212
• Dead poultry: means poultry, exclusive of those intentionally slaughtered, that die as a result of disease, injury, or of natural causes, upon any premises in the Commonwealth. See Virginia Code 3.2-6024
• Debt collector: means a person defined as a debt collector under 15 U. See Virginia Code 6.2-2000
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the Department of Environmental Quality. See Virginia Code 10.1-1400
• Dependent: A person dependent for support upon another.
• Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
• Depository institution: means a bank, savings institution, or credit union. See Virginia Code 6.2-1800
• Disposal: means the discharge, deposit, injection, dumping, spilling, leaking, or placing of any solid waste into or on any land or water so that such solid waste or any constituent thereof may enter the environment or be emitted into the air or discharged into any waters, including ground waters. See Virginia Code 10.1-1400
• Disposal: means to put dead poultry into a landfill or the complete destruction of dead poultry in an incinerator or a disposal pit, or by rendering or composting. See Virginia Code 3.2-6024
• Disposal pit: means an opening dug in the ground to a minimum depth of six feet, containing a minimum capacity of 150 cubic feet, covered with a minimum of 12 inches of dirt, and provided with one or more openings for the introduction of poultry therein. See Virginia Code 3.2-6024
• DMP: means a program whereby a person agrees to engage in debt pooling and distribution services on behalf of a consumer, or multiple consumers if a joint account. See Virginia Code 6.2-2000
• Docket: A log containing brief entries of court proceedings.
• Employee: means an individual (i) whose manner and means of performance of work are subject to the right of control of, or are controlled by, a person and (ii) whose compensation for federal income tax purposes is reported, or required to be reported, on a W-2 form issued by the controlling person. See Virginia Code 6.2-1700
• enclosure: means any fenced area open commercially to the public or any private facility where animals are held for the purpose of being shot. See Virginia Code 3.2-6035
• Fair Debt Collection Practices Act: The Fair Debt Collection Practices Act is a set of United States statutes added as Title VIII of the Consumer Credit Protection Act. Its purpose is to ensure ethical practices in the collection of consumer debts and to provide consumers with an avenue for disputing and obtaining validation of debt information in order to ensure the information's accuracy. It is often used in conjunction with the Fair Credit Reporting Act. ^{Source: OCC}
• 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.
• Federal acts: means the Federal Meat Inspection Act (21 U. See Virginia Code 3.2-5400
• 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}
• Forbearance: A means of handling a delinquent loan. A
• 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}
• Garbage: means animal and vegetable wastes resulting from the handling, preparation, cooking, and consumption of foods containing animal carcasses or parts thereof. See Virginia Code 3.2-6031
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Hatching egg: means any egg of any chicken, turkey, waterfowl, or game bird, or the egg of any other avian species that is used or intended to be used for hatching purposes. See Virginia Code 3.2-5900
• Holder: means a corporation, association, partnership or two or more persons having a joint or common interest. See Virginia Code 3.2-5218
• Immediate container: means any consumer package; or any other container in which livestock products or poultry products, not consumer packaged, are packed. See Virginia Code 3.2-5400
• Incinerator: means a device designed for treatment of waste by combustion. See Virginia Code 3.2-6024
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
• 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.
• Inspector: means an employee or official of the Commonwealth authorized by the Commissioner or any employee or official of the government of any locality authorized by the Commissioner to perform any inspection functions under this article under an agreement between the Commissioner and such governmental subdivision. See Virginia Code 3.2-5400
• Interest: means all charges payable directly or indirectly by a borrower to a licensee as a condition to a loan, including fees, service charges, and renewal charges, and any ancillary product sold in connection with a loan, but does not include the monthly maintenance fees, deposit item return fees, or late charges authorized under § 6. See Virginia Code 6.2-1800
• Label: means a display of written, printed, or graphic matter upon any article or the immediate container (not including package liners) of any article. See Virginia Code 3.2-5400
• Labeling: means all labels and other written, printed, or graphic matter: (i) upon any article or any of its containers or wrappers; or (ii) accompanying such article. See Virginia Code 3.2-5400
• Landfill: means an area permitted by the Department of Environmental Quality allowing the disposal of dead poultry. See Virginia Code 3.2-6024
• Licensee: means a person licensed under this chapter. See Virginia Code 6.2-2000
• Licensee: means an individual licensed under this chapter. See Virginia Code 6.2-1700
• Licensee: means a person to whom a license has been issued under this chapter. See Virginia Code 6.2-1800
• Licensee: means a person licensed under this chapter to engage in the business of selling money orders or the business of money transmission, or both. See Virginia Code 6.2-1900
• Lien: A claim against real or personal property in satisfaction of a debt.
• Livestock: includes all domestic or domesticated bovine animals; equine animals; ovine animals; porcine animals; cervidae animals; capradae animals; animals of the genus Lama or Vicugna; ratites; fish or shellfish in aquaculture facilities, as defined in § 3. See Virginia Code 3.2-5900
• Livestock: means any cattle, sheep, swine, goats, horses, mules, or other equines, whether live or dead. See Virginia Code 3.2-5400
• Livestock product: means any carcass, part thereof, meat, or meat food product of any livestock. See Virginia Code 3.2-5400
• Loan amount: means the principal amount of a loan, exclusive of fees or charges. See Virginia Code 6.2-1800
• Meat food product: means any product capable of use as human food that is made wholly or in part from any meat or other portion of the carcass of any cattle, sheep, swine, or goats. See Virginia Code 3.2-5400
• Member: means a person who owns or controls a 10 percent or greater interest in a limited liability company. See Virginia Code 6.2-1900
• Middle school: means separate schools for early adolescents and the middle school grades that might be housed at elementary or high schools. See Virginia Code 22.1-1
• Monetary value: means a medium of exchange, whether or not redeemable in money. See Virginia Code 6.2-1900
• Money order: means a check, traveler's check, draft, or other instrument for the transmission or payment of money or monetary value whether or not negotiable. See Virginia Code 6.2-1900
• Money transmission: means receiving money or monetary value for transmission by wire, facsimile, electronic means or other means or selling or issuing stored value. See Virginia Code 6.2-1900
• Money transmitter: means a person engaged in the business of money transmission. See Virginia Code 6.2-1900
• Mortgage loan originator: means an individual who (i) takes an application for or offers or negotiates the terms of a residential mortgage loan in which the dwelling is or will be located in the Commonwealth or (ii) represents to the public, through advertising or other means of communicating or providing information, including the use of business cards, stationery, brochures, signs, rate lists, or other promotional items, that such individual can or will perform any of the activities described in clause (i). See Virginia Code 6.2-1700
• Official certificate: means any certificate prescribed by regulations of the Board for issuance by an inspector or other person performing official functions under this article. See Virginia Code 3.2-5400
• Official device: means any device prescribed or authorized by the Commissioner for use in applying any official mark. See Virginia Code 3.2-5400
• Official establishment: means any establishment as determined by the Commissioner at which inspection of the slaughter of livestock or poultry or the preparation of livestock products or poultry products is maintained under the authority of this article. See Virginia Code 3.2-5400
• Official inspection legend: means any symbol prescribed by regulations of the Board showing that an article was inspected and passed in accordance with this article. See Virginia Code 3.2-5400
• Official mark: means the official inspection legend or any other symbol prescribed by regulations of the Board to identify the status of any article or livestock or poultry under this article. See Virginia Code 3.2-5400
• Outstanding: means :

  1. See Virginia Code 6.2-1900

• Oversight: Committee review of the activities of a Federal agency or program.
• package: means any box, can, tin, cloth, plastic, or other receptacle, wrapper, or cover. See Virginia Code 3.2-5400
• Person: means any person who engages in the raising or keeping of poultry for profit in the Commonwealth. See Virginia Code 3.2-6024
• 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
• Poultry: includes all domestic fowl and game birds raised in captivity. See Virginia Code 3.2-5900
• Poultry: means all chickens, ducks, turkeys, or other domestic fowls being raised or kept on any premises in the Commonwealth for profit. See Virginia Code 3.2-6024
• Poultry: means any domesticated bird, whether live or dead. See Virginia Code 3.2-5400
• Poultry product: means any poultry carcass or part thereof; or any product that is made wholly or in part from any poultry carcass or part thereof, excepting products that contain poultry ingredients only in a relatively small proportion or historically have not been considered by consumers as products of the poultry food industry, and that are exempted by the Commissioner from definition as a poultry product under such conditions as he may prescribe to assure that the poultry ingredients in such products are not adulterated and that such products are not represented as poultry products. See Virginia Code 3.2-5400
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• 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.
• Premises: means the entire tract of land including the buildings thereon, owned, leased, or used by any person for the raising or keeping of poultry for profit. See Virginia Code 3.2-6024
• Prepared: means slaughtered, canned, salted, stuffed, rendered, boned, cut up, or otherwise manufactured or processed. See Virginia Code 3.2-5400
• 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 person. See Virginia Code 6.2-2000
• 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 6.2-1800
• Principal: means any person who, directly or indirectly, owns or controls a 10 percent or greater interest in any form of entity. See Virginia Code 6.2-1900
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Qualifying criminal activity: means any activity, regardless of the stage of detection, investigation, or prosecution, designated in 8 U. See Virginia Code 9.1-1500
• Raising or keeping of poultry for profit: means the raising or keeping of 500 or more poultry at one time for the purpose of sale of such poultry or the eggs produced therefrom. See Virginia Code 3.2-6024
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Registry: means a mortgage licensing system developed and maintained by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators for the licensing and registration of mortgage loan originators. See Virginia Code 6.2-1700
• Registry: means the licensing and registration system operated by the State Regulatory Registry LLC. See Virginia Code 6.2-1900
• Render: means any person engaged in the business of rendering livestock or poultry carcasses, or parts of products of such carcasses, except rendering conducted under inspection or exemption under this article. See Virginia Code 3.2-5400
• Rendering: means treating dead poultry according to the process described in 9 C. See Virginia Code 3.2-6024
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• School board: means the school board that governs a school division. See Virginia Code 22.1-1
• Seller: means a person who sells or contracts to sell goods. See Virginia Code 8.2-103
• Short-term loan: means a loan made pursuant to this chapter. See Virginia Code 6.2-1800
• Sludge: means any solid, semisolid, or liquid wastes with similar characteristics and effects generated from a public, municipal, commercial, or industrial wastewater treatment plant, water supply treatment plant, air pollution control facility, or any other waste-producing facility. See Virginia Code 10.1-1400
• Solid waste: means any garbage, refuse, sludge, and other discarded material, including solid, liquid, semisolid, or contained gaseous material, resulting from industrial, commercial, mining, and agricultural operations, or community activities, but does not include (i) solid or dissolved material in domestic sewage; (ii) solid or dissolved material in irrigation return flows or in industrial discharges that are sources subject to a permit from the State Water Control Board; (iii) source, special nuclear, or by-product material as defined by the Federal Atomic Energy Act of 1954, as amended; or (iv) post-use polymers or recovered feedstocks that are (a) processed at an advanced recycling facility or (b) held at or held for the purpose of conversion at such advanced recycling facility prior to conversion. See Virginia Code 10.1-1400
• State Veterinarian: means the veterinarian employed by the Commissioner as provided in § 3. See Virginia Code 3.2-5900
• Statute: A law passed by a legislature.
• Stored value: means monetary value that is evidenced by an electronic record. See Virginia Code 6.2-1900
• Subpoena: A command to a witness to appear and give testimony.
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• 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.
• 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}
• Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on ^{Source: OCC}
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Victim of qualifying criminal activity: means a person described in 8 U. See Virginia Code 9.1-1500
• Waste: means any solid, hazardous, or radioactive waste as defined in this section. See Virginia Code 10.1-1400
• Waste management: means the collection, source separation, storage, transportation, transfer, processing, treatment, and disposal of waste or resource recovery. See Virginia Code 10.1-1400
• Wildlife: means any native or exotic wild animal or bird. See Virginia Code 3.2-6035
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.