Terms Used In Virginia Code > Title 15.2 > Subtitle II > Chapter 24.3 - Virginia Infrastructure Project Loan Fund

• 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
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Associate-degree-granting: means that an associate degree is the most advanced degree that is granted. See Virginia Code 23.1-100
• Associate-degree-granting public institution of higher education: includes Richard Bland College and each comprehensive community college. See Virginia Code 23.1-100
• 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 the Virginia Resources Authority created in Chapter 21 of Title 62. See Virginia Code 15.2-2430
• Baccalaureate: means that bachelor's degrees or more advanced degrees, or both, are granted. See Virginia Code 23.1-100
• 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
• Chief executive officer: includes the Chancellor of the Virginia Community College System, the Chancellor of the University of Virginia's College at Wise, the Superintendent of Virginia Military Institute, and the president of each other public institution of higher education. See Virginia Code 23.1-100
• City: means an independent incorporated community which became a city as provided by law before noon on July 1, 1971, or which has within defined boundaries a population of 5,000 or more and which has become a city as provided by law. See Virginia Code 1-208
• Commission: means the State Corporation Commission. See Virginia Code 38.2-100
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• Council: means the State Council of Higher Education for Virginia. See Virginia Code 23.1-100
• County: means any existing county or such unit hereafter created. See Virginia Code 15.2-102
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Eligible institution: means a baccalaureate public institution of higher education or baccalaureate nonprofit private institution of higher education whose primary purpose is to provide undergraduate collegiate education and not to provide religious training or theological education. See Virginia Code 23.1-622
• Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. ^{Source: OCC}
• 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.
• Forbearance: A means of handling a delinquent loan. A
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• Fund: means a student loan fund. See Virginia Code 23.1-617
• Fund: means the Virginia Infrastructure Project Loan Fund. See Virginia Code 15.2-2430
• Governing board: includes the State Board and the board of visitors of each baccalaureate public institution of higher education. See Virginia Code 23.1-100
• Grant: means the amount of financial assistance awarded under this article whether disbursed by warrant directly to an eligible institution or directly to a Virginia student. See Virginia Code 23.1-622
• Institution: means a public institution of higher education that has established a student loan fund from appropriations from the general fund of the state treasury for fellowships, scholarships, and loans. See Virginia Code 23.1-617
• Insurer: means an insurance company. See Virginia Code 38.2-100
• 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.
• Legacy: A gift of property made by will.
• Local government: means any county, city, town, municipal corporation, authority, district, commission, or political subdivision created by the General Assembly or pursuant to the Constitution or laws of the Commonwealth. See Virginia Code 15.2-2430
• 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
• Personal property: All property that is not real property.
• Private institution of higher education: includes each nonprofit private institution of higher education and proprietary private institution of higher education in the Commonwealth. See Virginia Code 23.1-100
• Program: means the Two-Year College Transfer Grant Program. See Virginia Code 23.1-622
• Project: means any undertaking by a local government to build or facilitate the building of a facility, located at or adjacent to (i) a solid waste management facility permitted by the Department of Environmental Quality or (ii) a sewerage system or sewage treatment work described in § 62. See Virginia Code 15.2-2430
• Public institution of higher education: includes the System as a whole and each associate-degree-granting and baccalaureate public institution of higher education in the Commonwealth. See Virginia Code 23.1-100
• 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
• State: means any commonwealth, state, territory, district or insular possession of the United States. See Virginia Code 38.2-100
• Student: means a medical student, dental student, intern, resident, or undergraduate student who is entitled to reduced rate tuition charges pursuant to Chapter 5 (§ 23. See Virginia Code 23.1-617
• Town: means any existing town or an incorporated community within one or more counties which became a town before noon, July one, nineteen hundred seventy-one, as provided by law or which has within defined boundaries a population of 1,000 or more and which has become a town as provided by law. See Virginia Code 15.2-102
• Trustee: A person or institution holding and administering property in trust.
• Virginia student: means any student who has established domicile in the Commonwealth pursuant to § 23. See Virginia Code 23.1-100