Terms Used In Virginia Code > Title 13.1 > Chapter 14 - Virginia Business Trust Act

• Accident and sickness insurance: means insurance against loss resulting from sickness, or from bodily injury or death by accident or accidental means, or from a combination of any or all of these perils. See Virginia Code 38.2-109
• Adjusted state hourly minimum wage: means the amount established by the Commissioner pursuant to subsection H of § 40. See Virginia Code 40.1-28.9
• 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.
• agricultural product: means any horticultural, viticulture, dairy, livestock, poultry, bee, or other farm or garden product. See Virginia Code 3.2-4300
• air carrier: includes a common carrier by aircraft, a restricted common carrier by aircraft, and a contract carrier by aircraft. See Virginia Code 5.1-89
• aircraft: means any contrivance, except a contrivance operating twenty-four inches or less above ground or water level, now known or hereafter invented, used, or designed for navigation of, or flight in, the airspace in the transportation of passengers, property or mail. See Virginia Code 5.1-89
• Allowed amount: means the contractually agreed upon amount paid or payable by a health carrier to a health care provider participating in the health carrier's network. See Virginia Code 38.2-3461
• 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.
• Annuities: means all agreements to make periodic payments in specified or calculable sums pursuant to the terms of a contract for a stated period of time or for the life of the person or persons specified in the contract. See Virginia Code 38.2-106
• 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.
• annuity: shall be deemed to include "variable annuity" and "modified guaranteed annuity" and shall be deemed to include a contract under which a lump sum cash settlement is an alternative to the option of periodic payments. See Virginia Code 38.2-106
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• 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.
• 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
• Articles of trust: includes the original articles of trust, the original certificate of trust issued by the Commission, and all amendments to the articles of trust. See Virginia Code 13.1-1201
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Attorney: means the person designated and authorized by subscribers as the attorney-in-fact having authority to obligate them on reciprocal insurance contracts. See Virginia Code 38.2-1201
• 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.
• Authority: means an authority created under the provisions of § 15. See Virginia Code 15.2-5101
• Average: means mean, median, or mode. See Virginia Code 38.2-3461
• 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.
• 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.
• Beneficial owner: means any owner of a beneficial interest in a business trust, the fact of ownership to be determined and evidenced, whether by means of registration, the issuance of certificates or otherwise, in conformity to the applicable provisions of the governing instrument of the business trust. See Virginia Code 13.1-1201
• 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}
• Benefit contract: means the agreement for provision of benefits authorized by § 38. See Virginia Code 38.2-4103
• Benefit member: means an adult member who is designated by the laws or rules of the society to be a benefit member under a benefit contract. See Virginia Code 38.2-4103
• Board: means the Safety and Health Codes Board. See Virginia Code 40.1-51.5
• Board: means the Safety and Health Codes Board. See Virginia Code 40.1-2
• Boiler: means a closed vessel in which water is heated, steam is generated, steam is superheated, or any combination thereof, under pressure or vacuum for use externally to itself by the direct application of heat from the combustion of fuels, or from electricity or nuclear energy. See Virginia Code 40.1-51.5
• Bond with surety: includes the payment in cash of the full amount of the required bond and, in such case, no surety shall be required. See Virginia Code 1-205
• Bonds: means any bonds, interim certificates, notes, debentures, or other obligations of the authority issued pursuant to this chapter. See Virginia Code 15.2-5301
• broker: means any person not included in the term air carrier and not a bona fide employee or agent of any such carrier, who, as principal or agent, sells or offers for sale any transportation subject to this chapter, or negotiates for, or holds himself out by solicitation, advertisement, or otherwise as one who sells, provides, furnishes, contracts, or arranges for such transportation. See Virginia Code 5.1-89
• Bureau of Insurance: means the division of the Commission established to administer the insurance laws of the Commonwealth. See Virginia Code 38.2-100
• Business: means any type of corporation, partnership, limited liability company, association, or sole proprietorship operated for profit. See Virginia Code 2.2-4301
• Business establishment: means any proprietorship, firm or corporation where people are employed, permitted or suffered to work, including agricultural employment on a farm. See Virginia Code 40.1-2
• business of insurance: include solicitation, negotiations preliminary to execution, execution of an insurance contract, and the transaction of matters subsequent to execution of the contract and arising out of it. See Virginia Code 38.2-100
• Business trust: includes , without limitation, any of the following entities that conform with subdivisions 1 and 2 of this definition:

  (1) A trust of the type known at common law as a "business trust" or "Massachusetts trust";

  (2) A trust qualifying as a real estate mortgage investment conduit under § 860 D of the United States Internal Revenue Code of 1986, as amended, or under any successor provision;

  (3) A trust qualifying as a real estate investment trust under §§ 856 through 859 of the United States Internal Revenue Code of 1986, as amended, or under any successor provision; or

  (4) A "real estate investment trust" or "trust" created under former Chapter 9 of Title 6 or former Chapter 9 of Title 6. See Virginia Code 13.1-1201

• Case law: The law as laid down in cases that have been decided in the decisions of the courts.
• CBCC: means a program providing or committing to provide a range of services, including long-term care services, to an individual, other than an individual related by blood or marriage, (i) pursuant to an agreement, including mutually terminable contracts, effective for the life of the individual or for a period in excess of one year; and (ii) in consideration of the payment of an entrance fee. See Virginia Code 38.2-4918
• CBCC entrance fee: means an initial or deferred transfer to a CBCC provider of a sum of money or other property made or promised to be made in advance or at some future time as full or partial consideration for acceptance of a specified individual as a participant. See Virginia Code 38.2-4918
• CBCC provider: means any person, corporation, partnership, or other entity that provides or offers to provide community-based continuing care and that has operated a Continuing Care Retirement Community facility for a minimum of three years. See Virginia Code 38.2-4918
• CCRC facility: means a facility, as defined in § 38. See Virginia Code 38.2-4918
• Certificate: means the document issued as written evidence of the benefit contract. See Virginia Code 38.2-4103
• certificate: means a certificate of public convenience and necessity issued by the State Corporation Commission to common carriers by aircraft and restricted common carriers by aircraft under this chapter. See Virginia Code 5.1-89
• Certificate inspection: means an inspection, the report of which is used by the Chief Inspector to decide whether or not a certificate as provided by § 40. See Virginia Code 40.1-51.5
• Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
• City: means both cities and counties, and city-specific terms such as "mayor" shall be deemed to also include the equivalent county term. See Virginia Code 15.2-5301
• Claim: means a request from a pharmacy or pharmacist to be reimbursed for the cost of administering, filling, or refilling a prescription for a drug or for providing a medical supply or device. See Virginia Code 38.2-3465
• Claims processing services: means the administrative services performed in connection with the processing and adjudicating of claims relating to pharmacist services that include (i) receiving payments for pharmacist services, (ii) making payments to pharmacists or pharmacies for pharmacist services, or (iii) both receiving and making payments. See Virginia Code 38.2-3465
• classification: means the plan, system, or arrangement for grouping risks with similar characteristics or a specified class of risk by recognizing differences in exposure to hazards. See Virginia Code 38.2-1901
• Commission: means the State Corporation Commission of Virginia. See Virginia Code 13.1-1201
• Commission: means the State Corporation Commission. See Virginia Code 38.2-100
• Commission: means the Safety and Health Codes Board. See Virginia Code 40.1-2
• Commission: means the State Corporation Commission. See Virginia Code 5.1-89
• Commissioner: means the Commissioner of Labor and Industry. See Virginia Code 40.1-2
• Commissioner: means one of the members of an authority appointed in accordance with the provisions of this chapter. See Virginia Code 15.2-5301
• Commissioner of Insurance: means the administrative or executive officer of the Bureau. See Virginia Code 38.2-100
• 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.
• company: means a cooperative nonprofit life benefit company as defined in subsection A of this section. See Virginia Code 38.2-3801
• Company: means any association, aggregate of individuals, business, corporation, individual, joint-stock company, Lloyds type of organization, organization, partnership, receiver, reciprocal or interinsurance exchange, trustee or society. See Virginia Code 38.2-100
• Comparable health care service: means any (i) physical and occupational therapy service, (ii) radiology and imaging service, (iii) laboratory service, (iv) infusion therapy service, and (v) at the discretion of the health carrier, other health care service, provided that with respect to any service described in clauses (i) through (v) the service (a) is a covered non-emergency health care service or bundle of health care services provided by a network provider and (b) is a service for which the health carrier has not demonstrated that the allowed amount variation among participating providers is less than $50. See Virginia Code 38.2-3461
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Construction: means building, altering, repairing, improving or demolishing any structure, building or highway, and any draining, dredging, excavation, grading or similar work upon real property. See Virginia Code 2.2-4301
• Contingent beneficiary: Receiver of property or benefits if the first named beneficiary fails to receive any or all of the property or benefits in question before his (her) death.
• Continuance: Putting off of a hearing ot trial until a later time.
• Continuing care: means providing or committing to provide board, lodging and nursing services to an individual, other than an individual related by blood or marriage, (i) pursuant to an agreement effective for the life of the individual or for a period in excess of one year, including mutually terminable contracts, and (ii) in consideration of the payment of an entrance fee. See Virginia Code 38.2-4900
• Contract fee inspector: means any certified boiler inspector contracted to inspect boilers or pressure vessels on an independent basis by the owner or operator of the boiler or pressure vessel. See Virginia Code 40.1-51.5
• Contract holder: means a person entering into a subscription contract with a nonstock corporation. See Virginia Code 38.2-4201
• Contract pharmacy: means a pharmacy operating under contract with a 340B-covered entity to provide dispensing services to the 340B-covered entity, as described in 75 Fed. See Virginia Code 38.2-3465
• Converting entity: means the domestic or foreign business trust, corporation, limited liability company, limited partnership, partnership, or other entity that adopts a plan of domestication or plan of entity conversion pursuant to this article. See Virginia Code 13.1-1264
• Conviction: A judgement of guilt against a criminal defendant.
• cooperative: means an entity authorized by its employer-members to negotiate with health insurance issuers on their behalf as to the terms, including premium rates, under which a group health policy or policies may be issued, providing coverage for the eligible employees of such employer-members and their eligible dependents. See Virginia Code 38.2-3551
• corporation: shall include but not be limited to public employers, public employees and any representative of public employees in this Commonwealth. See Virginia Code 40.1-58.1
• Covered entity: means an entity described in § 340B(a)(4) of the federal Public Health Service Act, 42 U. See Virginia Code 38.2-3465
• Covered individual: means an individual receiving prescription medication coverage or reimbursement provided by a pharmacy benefits manager or a carrier under a health benefit plan. See Virginia Code 38.2-3465
• Covered person: means a policyholder, subscriber, participant, or other individual covered by a health benefit plan. See Virginia Code 38.2-3461
• 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.
• Department: means the Department of Aviation. See Virginia Code 5.1-1
• Department: means the Department of Labor and Industry. See Virginia Code 40.1-2
• Department: means the Department of Agriculture and Consumer Services. See Virginia Code 3.2-100
• 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.
• 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.
• Docket: A log containing brief entries of court proceedings.
• domestic business trust: means an unincorporated business, trust, or association that:

  1. See Virginia Code 13.1-1201

• Domestic partnership: means an association of two or more persons to carry on as co-owners a business for profit formed under § 50-73. See Virginia Code 13.1-1201
• Domestic service: means services related to the care of an individual in a private home or the maintenance of a private home or its premises, on a permanent or temporary basis, including services performed by individuals such as companions, cooks, waiters, butlers, maids, valets, and chauffeurs. See Virginia Code 40.1-2
• Domesticated business trust: means the domesticating business trust as it continues in existence after a domestication. See Virginia Code 13.1-1264
• Domesticating business trust: means the domestic business trust that approves a plan of domestication pursuant to § 13. See Virginia Code 13.1-1264
• Domestication: means a transaction pursuant to this article, including domestication of a foreign business trust as a domestic business trust or domestication of a domestic business trust in another jurisdiction, where the other jurisdiction authorizes such a transaction even if by another name. See Virginia Code 13.1-1264
• Donor: The person who makes a gift.
• Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
• Eligible employee: means an employee who works for a small employer on a full-time basis, has a normal work week of 30 or more hours, has satisfied applicable waiting period requirements, and is not a part-time, temporary, or substitute employee. See Virginia Code 38.2-3551
• Eligible employee: means an individual who has requested that an employer provide organ donation leave and who, as of the date that the requested organ donation leave begins, will have been employed by that employer for at least (i) a 12-month period and (ii) 1,250 hours during the previous 12 months. See Virginia Code 40.1-33.7
• Eligible individual: means an individual:

  1. See Virginia Code 38.2-3430.2

• 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}
• Employee: includes any individual employed by an employer. See Virginia Code 40.1-28.9
• Employee: means a home health worker who works on average at least 20 hours per week or 90 hours per month. See Virginia Code 40.1-33.3
• Employee: means any person who, in consideration of wages, salaries or commissions, may be permitted, required or directed by any employer to engage in any employment directly or indirectly. See Virginia Code 40.1-2
• Employer: includes any individual, partnership, association, corporation, or business trust or any person or group of persons acting directly or indirectly in the interest of an employer in relation to an employee. See Virginia Code 40.1-28.9
• employer: includes the Commonwealth and its agencies, institutions, and political subdivisions. See Virginia Code 40.1-33.7
• Employer: means an individual, partnership, association, corporation, legal representative, receiver, trustee, or trustee in bankruptcy doing business in or operating within this Commonwealth who employs another to work for wages, salaries, or on commission and shall include any similar entity acting directly or indirectly in the interest of an employer in relation to an employee. See Virginia Code 40.1-2
• Employer-member: means a small employer participating in a small employer health group cooperative. See Virginia Code 38.2-3551
• Entity: includes any domestic or foreign business trust or other business entity, any estate or trust, and any state, the United States, and any foreign government. See Virginia Code 13.1-1201
• Entity conversion: means conversion. See Virginia Code 13.1-1201
• Entrance fee: means an initial or deferred transfer to a provider of a sum of money or other property made or promised to be made in advance or at some future time as full or partial consideration for acceptance of a specified individual as a resident in a facility. See Virginia Code 38.2-4900
• 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.
• 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
• Exchange: means either a (i) federal health benefit exchange established by the Secretary of the U. See Virginia Code 38.2-3455
• Experience rating: means a statistical procedure utilizing past risk experience to produce a prospective premium credit, debit, or unity modification. See Virginia Code 38.2-1901
• Facility: means the place or places in which a person undertakes to provide continuing care to an individual. See Virginia Code 38.2-4900
• 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 member: means :

  1. See Virginia Code 40.1-33.3

• Federal government: means the United States of America or any agency or instrumentality, corporate or otherwise, of the United States of America. See Virginia Code 15.2-5301
• Federal minimum wage: means the minimum wage or, if applicable, the federal training wage prescribed by the U. See Virginia Code 40.1-28.9
• Fiduciary: A trustee, executor, or administrator.
• 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.
• Foreign business trust: means a trust formed under the law of a jurisdiction other than the Commonwealth that would be a business trust if formed under the law of the Commonwealth. See Virginia Code 13.1-1201
• Foreign entity: means a foreign business trust, corporation, limited liability company, limited partnership, partnership, or other entity. See Virginia Code 13.1-1264
• Form: means a policy, rider, endorsement, amendment, application, enrollment form, certificate of insurance, evidence of coverage, group agreement, supplemental agreement, or any other form required to be filed with or approved by the Commission. See Virginia Code 38.2-3517
• Fraud: Intentional deception resulting in injury to another.
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• Goods: means all material, equipment, supplies, printing, and automated data processing hardware and software. See Virginia Code 2.2-4301
• Governing instrument: means a trust instrument that creates a business trust and provides for the governance of the affairs of the business trust and the conduct of its business, including, without limitation, a declaration of trust. See Virginia Code 13.1-1201
• Government: means the Commonwealth and the federal government and any subdivision, agency or instrumentality, corporate or otherwise, of either of them. See Virginia Code 15.2-5301
• Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. ^{Source: Federal Reserve}
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Health benefit plan: means a policy, contract, certificate, or agreement offered by a health carrier in the small group market to provide, deliver, arrange for, pay for, or reimburse any of the costs of health care services. See Virginia Code 38.2-3461
• Health care provider: means a health care professional or facility. See Virginia Code 38.2-3461
• Health care service: means a service for the diagnosis, prevention, treatment, cure, or relief of a health condition, illness, injury, or disease. See Virginia Code 38.2-3461
• Health carrier: means an entity subject to the insurance laws and regulations of the Commonwealth and subject to the jurisdiction of the Commission that contracts or offers to contract to provide, deliver, arrange for, pay for, or reimburse any of the costs of health care services, including an insurer licensed to sell accident and sickness insurance, a health maintenance organization, a health services plan, or any other entity providing a plan of health insurance, health benefits, or health care services. See Virginia Code 38.2-3461
• Health services plan: means any arrangement for offering or administering health services or similar or related services by a corporation licensed under Chapter 42 of Title 59. See Virginia Code 38.2-100
• Health status-related factor: means the following in relation to the individual or a dependent eligible for coverage under a group health plan or health insurance coverage offered by a health insurance issuer:

  1. See Virginia Code 38.2-3551

• Holding company system: means two or more affiliated persons, one or more of which is a nonstock corporation licensed under this chapter. See Virginia Code 38.2-4230
• Home care provider: means an individual who provides (i) home health services, including services provided by or under the direct supervision of any health care professional under a medical plan of care in a patient's residence on a visit or hourly basis to patients who have or are at risk of injury, illness, or a disabling condition and require short-term or long-term interventions, or (ii) personal care services, including assistance in personal care to include activities of a daily living provided in an individual's residence on a visit or hourly basis to individuals who have or are at risk of an illness, injury, or disabling condition. See Virginia Code 40.1-28.9
• Home health worker: means an individual who provides personal care, respite, or companion services to an individual who receives consumer-directed services under the state plan for medical assistance services. See Virginia Code 40.1-33.3
• hospital authority: means a body corporate organized in accordance with the provisions of this chapter for the purposes, with the powers and subject to the restrictions hereinafter set forth. See Virginia Code 15.2-5301
• Immediate family: means a spouse, children, parents, brothers and sisters, and any other person living in the same household as the employee. See Virginia Code 2.2-4368
• Improvements: means such repairs, replacements, additions, extensions and betterments of and to a system as an authority deems necessary to place or maintain the system in proper condition for the safe, efficient and economical operation thereof or to provide service in areas not currently receiving such service. See Virginia Code 15.2-5101
• 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}
• individual life insurance: means any life insurance other than group life insurance, industrial life insurance, annuities, credit life insurance, and pure endowments, with or without return of premiums or of premiums and interest. See Virginia Code 38.2-3300
• 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.
• Insurance company: means any company engaged in the business of making contracts of insurance. See Virginia Code 38.2-100
• insurance policies: shall include contracts of fidelity, indemnity, guaranty and suretyship. See Virginia Code 38.2-100
• insured: as used in this article , shall not be construed to prevent a person with a proper insurable interest from applying for and owning a policy covering another person or from being entitled to any indemnities, benefits and rights provided under the policy. See Virginia Code 38.2-3507
• Insurer: means an insurance company licensed in the Commonwealth that offers retained asset accounts for death benefits. See Virginia Code 38.2-3117.1
• Insurer: means an insurance company. See Virginia Code 38.2-100
• 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}
• Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
• issuer: means a company authorized to issue coverage under Article 3 (§ 38. See Virginia Code 38.2-3551
• Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
• Jurisdiction of formation: means the state or country the law of which includes the organic law governing a domestic or foreign business trust or other business entity. See Virginia Code 13.1-1201
• Laws: means the society's articles of incorporation, constitution and bylaws, however designated. See Virginia Code 38.2-4103
• 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}
• Legal tender: coins, dollar bills, or other currency issued by a government as official money. ^{Source: U.S. Mint}
• 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.
• Life insurance: includes policies that also provide (i) endowment benefits; (ii) additional benefits incidental to a loss in the event of death, dismemberment, or loss by accident or accidental means; (iii) additional benefits to safeguard the contract from lapse or to provide a special surrender value, a special benefit or an annuity, in the event of total and permanent disability of the insured; and (iv) optional modes of settlement of proceeds. See Virginia Code 38.2-102
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Lodge: means subordinate member units of the society, known as camps, courts, councils, branches or by any other designation. See Virginia Code 38.2-4103
• Mail order pharmacy: means a pharmacy whose primary business is to receive prescriptions by mail or through electronic submissions and to dispense medication to covered individuals through the use of the United States mail or other common or contract carrier services and that provides any consultation with covered individuals electronically rather than face-to-face. See Virginia Code 38.2-3465
• Market segment: means any line or class of insurance or, if it is described in general terms, any subdivision of insurance or any class of risks or combination of classes. See Virginia Code 38.2-1901
• mayor: shall be deemed to also include the equivalent county term. See Virginia Code 15.2-5301
• Medical or surgical services plan: means a health services plan for providing medical or surgical services or both, and similar or related services. See Virginia Code 38.2-4201
• Medicare: means the "Health Insurance for the Aged Act" Title XVIII of the Social Security Amendment of 1965, as amended. See Virginia Code 38.2-100
• Model boiler: means any boiler fabricated to demonstrate an original design or to reproduce or replicate a historic artifact, and used primarily for demonstration, exhibition, or educational purposes. See Virginia Code 40.1-51.19:1
• 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.
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Mutual assessment insurance: means property and casualty insurance written by an insurer which has a right to assess its members for contributions and which is licensed pursuant to this chapter. See Virginia Code 38.2-2501
• Mutual assessment property and casualty insurer: means a company without capital stock that writes only mutual assessment insurance insuring property located in or protecting against losses of members who are residents of this Commonwealth. See Virginia Code 38.2-2501
• Navigator: means an individual or entity described in 42 U. See Virginia Code 38.2-3455
• Network provider: means a health care provider that has contracted with the health carrier, or with its contractor or subcontractor, to provide health care services to covered persons as a member of a network. See Virginia Code 38.2-3461
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• Nonstock corporation: means a foreign or domestic nonstock corporation which is subject to regulation and licensing under this chapter and which offers or administers subscription contracts to contract holders as part of a plan. See Virginia Code 38.2-4201
• Notary: means notary public. See Virginia Code 1-226
• Oath: A promise to tell the truth.
• Oath: includes affirmation. See Virginia Code 1-228
• obligee: includes any bondholder, trustee or trustees for any bondholders, any lessor demising property to the authority used in connection with a hospital project or any assignee or assignees of such lessor's interest or any part thereof, and the United States of America when it is a party to any contract with the authority. See Virginia Code 15.2-5301
• offeror: means a person who has the capability, in all respects, to perform fully the contract requirements and the moral and business integrity and reliability that will assure good faith performance, and who has been prequalified, if required. See Virginia Code 2.2-4301
• Official responsibility: means administrative or operating authority, whether intermediate or final, to initiate, approve, disapprove or otherwise affect a procurement transaction, or any claim resulting therefrom. See Virginia Code 2.2-4368
• Organ donation leave: means leave of an eligible employee for the purpose of donating one or more of such employee's human organs, including bone marrow, to be medically transplanted into the body of another individual. See Virginia Code 40.1-33.7
• Organic law: means the statute governing the internal affairs of a domestic or foreign business trust or other business entity. See Virginia Code 13.1-1201
• Original bill: A bill which is drafted by a committee. It is introduced by the committee or subcommittee chairman after the committee votes to report it.
• Other business entity: means a domestic or foreign stock corporation, a nonstock corporation, limited liability company, partnership, or limited partnership. See Virginia Code 13.1-1201
• Other entity: means a domestic real estate investment trust or common law trust. See Virginia Code 13.1-1264
• Out-of-pocket costs: means any copayment, deductible, or coinsurance that is the responsibility of the covered person with respect to a covered health care service. See Virginia Code 38.2-3461
• Oversight: Committee review of the activities of a Federal agency or program.
• Owner: includes persons, federal agencies, and units of the Commonwealth having any title or interest in any system, or the services or facilities to be rendered thereby. See Virginia Code 15.2-5101
• Owner-user inspection agency: means any person, firm, partnership or corporation registered with the Chief Inspector and approved by the Board as being legally responsible for inspecting pressure vessels which they operate in Virginia. See Virginia Code 40.1-51.5
• Paid sick leave: means leave that is compensated at the same hourly rate and with the same benefits, including health care benefits, as an employee normally earns during hours worked and is provided by an employer to an employee for the purposes described in § 40. See Virginia Code 40.1-33.3
• Participant: means an individual who has entered into a community-based continuing care contract. See Virginia Code 38.2-4918
• PBM: means an entity that performs pharmacy benefits management. See Virginia Code 38.2-3465
• Pecuniary interest arising from the procurement: means a personal interest in a contract as defined in the State and Local Government Conflict of Interests Act (§ 2. See Virginia Code 2.2-4368
• Person: means any association, aggregate of individuals, business, company, corporation, individual, joint-stock company, Lloyds type of organization, organization, partnership, receiver, reciprocal or interinsurance exchange, trustee or society. See Virginia Code 38.2-100
• person: means any individual, firm, copartnership, corporation, company, association or joint-stock association, and includes any trustee, receiver, assignee, or personal representative thereof. See Virginia Code 5.1-89
• 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
• Pharmacy benefits management: means the administration or management of prescription drug benefits provided by a carrier for the benefit of covered individuals. See Virginia Code 38.2-3465
• Pharmacy benefits manager: includes an entity acting for a PBM in a contractual relationship in the performance of pharmacy benefits management for a carrier, nonprofit hospital, or third-party payor under a health program administered by the Commonwealth. See Virginia Code 38.2-3465
• Pharmacy benefits manager affiliate: means a business, pharmacy, or pharmacist that directly or indirectly, through one or more intermediaries, owns or controls, is owned or controlled by, or is under common ownership interest or control with a pharmacy benefits manager. See Virginia Code 38.2-3465
• Plaintiff: The person who files the complaint in a civil lawsuit.
• plan: means any arrangement for offering or administering health services or similar or related services by a nonstock corporation licensed under this chapter. See Virginia Code 38.2-4201
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
• Policy: means any policy or certificate of insurance that provides a death benefit. See Virginia Code 38.2-3117.1
• policy: includes annuity contracts that provide for policy loans and certificates issued by a fraternal benefit society. See Virginia Code 38.2-3300
• Policy: means an insurance policy, contract, certificate, evidence of coverage, or other agreement of insurance, including any attached rider, endorsement, or application. See Virginia Code 38.2-3517
• policy: means a group insurance policy providing hospital, medical and surgical or major medical coverage on an expense-incurred basis, a group accident and sickness insurance policy or subscription contract, and a group health care plan for health care services or limited health care services provided by a health maintenance organization. See Virginia Code 38.2-3551
• Political subdivision: means a locality or any institution or commission of the Commonwealth of Virginia. See Virginia Code 15.2-5101
• 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.
• Premiums: means premiums, rates, dues or other required contributions by whatever name known, which are payable under the certificate. See Virginia Code 38.2-4103
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Probate: Proving a will
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Process: includes subpoenas, the summons and complaint in a civil action, and process in statutory actions. See Virginia Code 1-237
• Procurement transaction: means all functions that pertain to the obtaining of any goods, services or construction, including description of requirements, selection and solicitation of sources, preparation and award of contract, and all phases of contract administration. See Virginia Code 2.2-4368
• Professional employer services: means services provided to a client company pursuant to a written agreement with a professional employer organization, including, at a minimum, the payment of wages of the coemployees, the reservation of the right of direction and control over the coemployees, and the responsibility for the withholding and payment of payroll taxes of the coemployees. See Virginia Code 38.2-1901
• Program: means the comparable health care service incentive program established by a health carrier pursuant to this article. See Virginia Code 38.2-3461
• project: means any and all medical facilities and approaches thereto and appurtenances thereof. See Virginia Code 15.2-5301
• Prospective loss costs: means historical aggregate losses and loss adjustment expenses projected through development to their ultimate value and through trending to a future point in time. See Virginia Code 38.2-1901
• Provider: means any person, corporation, partnership or other entity that provides or offers to provide continuing care to any individual in an existing or proposed facility in this Commonwealth. See Virginia Code 38.2-4900
• provider network: means the group of participating providers providing services to a health benefit plan under which the financing and delivery of health care services are provided, in whole or in part, through a defined set of health care providers. See Virginia Code 38.2-3461
• Public body: means any legislative, executive or judicial body, agency, office, department, authority, post, commission, committee, institution, board or political subdivision created by law to exercise some sovereign power or to perform some governmental duty, and empowered by law to undertake the activities described in this chapter. See Virginia Code 2.2-4301
• Public employee: means any person employed by a public body, including elected officials or appointed members of governing bodies. See Virginia Code 2.2-4368
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Qualified dental plan: means a limited scope dental plan that has in effect a certification that the plan meets the criteria for certification described in § 1311(d)(2)(B)(ii) of the Patient Protection and Affordable Care Act, P. See Virginia Code 38.2-3455
• Qualified health plan: means a health benefit plan that has in effect a certification that the plan meets the criteria for certification described in § 1311(c) of the Patient Protection and Affordable Care Act, P. See Virginia Code 38.2-3455
• Range of services: means , without limitation, coordinated in-home care management, wellness programs, health assessments, health information and referral, home safety evaluation, homemaker services, assistance with activities of daily living, personal emergency response systems, chronic disease management, professional nursing services, services provided by a home care organization as defined in § 32. See Virginia Code 38.2-4918
• Rate service organization: means any entity, including its affiliates or subsidiaries, which either has two or more member insurers or is controlled either directly or indirectly by two or more insurers, other than a joint underwriting association under § 38. See Virginia Code 38.2-1901
• rates: means any rate of premium, policy fee, membership fee or any other charge made by an insurer for or in connection with a contract or policy of insurance. See Virginia Code 38.2-100
• 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.
• Reciprocal: means the aggregation of subscribers under a common name. See Virginia Code 38.2-1201
• Refuse: means solid waste, including sludge and other discarded material, such as solid, liquid, semi-solid or contained gaseous material resulting from industrial, commercial, mining, and agricultural operations or from community activities or residences. See Virginia Code 15.2-5101
• Refuse collection and disposal system: means a system, plant or facility designed to collect, manage, dispose of, or recover and use energy from refuse and the land, structures, vehicles and equipment for use in connection therewith. See Virginia Code 15.2-5101
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Resident: means an individual entitled to receive continuing care in a facility. See Virginia Code 38.2-4900
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Resulting entity: means the domestic limited liability company or business trust that is in existence upon consummation of an entity conversion pursuant to this article. See Virginia Code 13.1-1264
• Retained asset account: means any mechanism whereby the settlement of proceeds payable under a life insurance policy is accomplished by the insurer or an entity acting on behalf of the insurer depositing the proceeds into an account with check or draft writing privileges where those proceeds are retained by the insurer pursuant to a supplementary contract not involving annuity benefits. See Virginia Code 38.2-3117.1
• revenue bonds: include notes, bonds, bond anticipation notes, and other obligations of an authority for the payment of money. See Virginia Code 15.2-5101
• Rules: means all rules, regulations or resolutions adopted by the supreme governing body or board of directors which are intended to have general application to the members of the society. See Virginia Code 38.2-4103
• Secretary: means the Secretary of the U. See Virginia Code 38.2-3455
• Service area: means the geographic area within which a health insurance issuer is authorized to sell a group health policy or policies. See Virginia Code 38.2-3551
• Service of process: The service of writs or summonses to the appropriate party.
• Services: means any work performed by an independent contractor wherein the service rendered does not consist primarily of acquisition of equipment or materials, or the rental of equipment, materials and supplies. See Virginia Code 2.2-4301
• 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.
• Sewage: means the water-carried wastes created in and carried, or to be carried, away from residences, hotels, schools, hospitals, industrial establishments, commercial establishments or any other private or public buildings, together with such surface or ground water and household and industrial wastes as may be present. See Virginia Code 15.2-5101
• Sewage disposal system: means any system, plant, disposal field, lagoon, pumping station, constructed drainage ditch or surface water intercepting ditch, incinerator, area devoted to sanitary landfills, or other works, installed for the purpose of treating, neutralizing, stabilizing or disposing of sewage, industrial waste or other wastes. See Virginia Code 15.2-5101
• sewage system: means pipelines or conduits, pumping stations, and force mains, and all other constructions, devices, and appliances appurtenant thereto, used for conducting sewage, industrial wastes or other wastes to a plant of ultimate disposal. See Virginia Code 15.2-5101
• Small employer: means , in connection with a group health policy with respect to a calendar year and a plan year, an employer who employed an average of at least one but not more than 50 employees on business days during the preceding calendar year and who employs at least one employee on the first day of the plan year. See Virginia Code 38.2-3551
• Small group market: means the health insurance market under which individuals obtain health insurance coverage, directly or through any arrangement, on behalf of themselves and their dependents through a group health plan maintained by a small employer. See Virginia Code 38.2-3461
• Society: means fraternal benefit society, unless otherwise indicated. See Virginia Code 38.2-4103
• Spread pricing: means the model of prescription drug pricing in which the pharmacy benefits manager charges a health benefit plan a contracted price for prescription drugs, and the contracted price for the prescription drugs differs from the amount the pharmacy benefits manager directly or indirectly pays the pharmacist or pharmacy for pharmacist services. See Virginia Code 38.2-3465
• Stamping agent: means (i) a person who is authorized by the Tax Commissioner pursuant to § 58. See Virginia Code 3.2-4204
• State: means any commonwealth, state, territory, district or insular possession of the United States. See Virginia Code 38.2-100
• Statistical plan: means the plan, system, or arrangement used in collecting data for rate making or other purposes. See Virginia Code 38.2-1901
• Statute: A law passed by a legislature.
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Stormwater control system: means a structural system of any type that is designed to manage the runoff from land development projects or natural systems designated for such purposes, including, without limitation, retention basins, ponds, wetlands, sewers, conduits, pipelines, pumping and ventilating stations, and other plants, structures, and real and personal property used for support of the system. See Virginia Code 15.2-5101
• Subpoena: A command to a witness to appear and give testimony.
• Subpoena duces tecum: A command to a witness to produce documents.
• Subscriber: means any person entitled to benefits under the terms and conditions of a subscription contract. See Virginia Code 38.2-4201
• Subscriber: means a person obligated under a reciprocal insurance agreement. See Virginia Code 38.2-1201
• Subscription contract: means a written contract which is issued to a contract holder by a nonstock corporation and which provides health services or benefits for health services on a prepaid basis. See Virginia Code 38.2-4201
• Supplementary rate information: includes any manual or plan of rates, experience rating plan, statistical plan, classification, rating schedule, minimum premium, or minimum premium rule, policy fee, rating rule, rate-related underwriting rule, and any other information not otherwise inconsistent with the purposes of this chapter required by the Commission. See Virginia Code 38.2-1901
• Supporting data: includes :

  1. See Virginia Code 38.2-1901

• Supreme Court: means the Supreme Court of Virginia. See Virginia Code 1-249
• Surplus: means the excess of total admitted assets over the liabilities of a nonstock corporation licensed under this chapter, and shall include any contingency reserves maintained pursuant to § 38. See Virginia Code 38.2-4230
• Surplus to policyholders: means the excess of total admitted assets over the liabilities of an insurer, and shall be the sum of all capital and surplus accounts, including any voluntary reserves, minus any impairment of all capital and surplus accounts. See Virginia Code 38.2-100
• Surviving entity: means the domestic business trust that is in existence upon consummation of a domestication pursuant to this article. See Virginia Code 13.1-1264
• sworn: means "affirm" or "affirmed. See Virginia Code 1-250
• System: means any sewage disposal system, sewer system, stormwater control system, water or waste system, and for authorities created under Article 6 (§ 15. See Virginia Code 15.2-5101
• Testator: A male person who leaves a will at death.
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Tipped employee: means an employee who in the course of employment customarily and regularly receives tips totaling more than $30 each month from persons other than the employee's employer. See Virginia Code 40.1-28.9
• 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.
• Transaction: means any (i) sale, purchase, exchange, renting or leasing arrangement, loan or extension of credit, arrangement for the assumption, extension or renewal of any obligation or liability, guaranty or surety arrangement, or investment; (ii) dividend or distribution of cash or property; (iii) reinsurance treaty or risk-sharing arrangement; (iv) management contract, service contract or cost-sharing arrangement; or (v) other arrangement, relationship or dealings that the Commission by order, rule or regulation determines to be a transaction contemplated by this article. See Virginia Code 38.2-4230
• Trust: includes a common law trust, business trust, and foreign business trust. See Virginia Code 13.1-1201
• Trust indenture: includes instruments pledging the revenues of real or personal properties but not conveying such properties or conferring a right to foreclose and cause a sale thereof. See Virginia Code 15.2-5301
• Trustee: means a person appointed as a trustee in accordance with the governing instrument of a business trust. See Virginia Code 13.1-1201
• Trustee: A person or institution holding and administering property in trust.
• under common control with: means direct or indirect possession of the power to direct or cause the direction of the management and policies of a person through (i) the ownership of voting securities, (ii) by contract other than a commercial contract for goods or nonmanagement services, or (iii) otherwise, unless the power is the result of an official position with or corporate office held by the person. See Virginia Code 38.2-4230
• Unit: means any department, institution or commission of the Commonwealth; any public corporate instrumentality thereof; any district; or any locality. See Virginia Code 15.2-5101
• 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
• United States: includes any district, authority, bureau, commission, department, or other agency of the United States. See Virginia Code 13.1-1201
• Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
• Venue: The geographical location in which a case is tried.
• Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.
• Voting security: means any security that enables the owner to vote for the election of directors. See Virginia Code 38.2-4230
• Wages: includes the reasonable cost to the employer of furnishing meals and lodging to an employee if such board or lodging is customarily furnished by the employer and used by the employee. See Virginia Code 40.1-28.9
• Water or waste system: means any water system, sewer system, sewage disposal system, or refuse collection and disposal system, or any combination of such systems. See Virginia Code 15.2-5101
• Water system: means all plants, systems, facilities or properties used or useful or having the present capacity for future use in connection with the supply or distribution of water, or facilities incident thereto, and any integral part thereof, including water supply systems, water distribution systems, dams and facilities for the generation or transmission of hydroelectric power, reservoirs, wells, intakes, mains, laterals, pumping stations, standpipes, filtration plants, purification plants, hydrants, meters, valves and equipment, appurtenances, and all properties, rights, easements and franchises relating thereto and deemed necessary or convenient by the authority for the operation thereof but not including dams or facilities for the generation or transmission of hydroelectric power that are not incident to plants, systems, facilities or properties used or useful or having the present capacity for future use in connection with the supply or distribution of water. See Virginia Code 15.2-5101
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.