Virginia Code > Title 38.2 > Chapter 18 > Article 8 – Portable Electronics Insurance
Current as of: 2023 | Check for updates
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Terms Used In Virginia Code > Title 38.2 > Chapter 18 > Article 8 - Portable Electronics Insurance
- Appointee: means a person to which a powerholder makes an appointment of appointive property. See Virginia Code 64.2-2700
- Appointive property: means the property or property interest subject to a power of appointment. See Virginia Code 64.2-2700
- Commission: means the State Corporation Commission. See Virginia Code 38.2-100
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Custodial property: means (i) any interest in property transferred to a custodian under this chapter and (ii) the income from and proceeds of that interest in property. See Virginia Code 64.2-1900
- Custodian: means a person so designated under § 64. See Virginia Code 64.2-1900
- Customer: means a person who purchases portable electronics or services. See Virginia Code 38.2-1875
- Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- General power of appointment: means a power of appointment exercisable in favor of the powerholder, the powerholder's estate, a creditor of the powerholder, or a creditor of the powerholder's estate. See Virginia Code 64.2-2700
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Includes: means includes, but not limited to. See Virginia Code 1-218
- Instrument: means a record. See Virginia Code 64.2-2700
- insurance producer: when used without qualification, means an individual or business entity that sells, solicits, or negotiates contracts of insurance or annuity in the Commonwealth. See Virginia Code 38.2-1800
- Insurer: means an insurance company. See Virginia Code 38.2-100
- Inter vivos: Transfer of property from one living person to another living person.
- 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
- Minor: means an individual who has not attained the age of 18 years. See Virginia Code 64.2-1900
- Person: means an individual; estate; trust; business or nonprofit entity; public corporation; government or governmental subdivision, agency, or instrumentality; or other legal entity. See Virginia Code 64.2-2700
- 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
- Portable electronics: means electronic devices that are portable in nature, accessories to such devices, and services related to the use of the devices. See Virginia Code 38.2-1875
- Portable electronics insurance: means insurance providing coverage for the repair or replacement of portable electronics that may cover portable electronics against any one or more of the following causes of loss: loss, theft, mechanical failure, malfunction, damage, or other applicable peril. See Virginia Code 38.2-1875
- Power of appointment: means a power that enables a powerholder acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over the appointive property. See Virginia Code 64.2-2700
- 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
- Powerholder: means a person in which a donor creates a power of appointment. See Virginia Code 64.2-2700
- Process: includes subpoenas, the summons and complaint in a civil action, and process in statutory actions. See Virginia Code 1-237
- Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Virginia Code 64.2-2700
- Specific-exercise clause: means a clause in an instrument which specifically refers to and exercises a particular power of appointment. See Virginia Code 64.2-2700
- State: includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to the legislative authority of the United States. See Virginia Code 64.2-1900
- State: means any commonwealth, state, territory, district or insular possession of the United States. See Virginia Code 38.2-100
- Taker in default of appointment: means a person that takes all or part of the appointive property to the extent that the powerholder does not effectively exercise the power of appointment. See Virginia Code 64.2-2700
- Terminate: means the cancellation of the relationship between an insurance producer and the insurer, or the termination of an insurance producer's authority to transact insurance. See Virginia Code 38.2-1800
- Transfer: means a transaction that creates custodial property under § 64. See Virginia Code 64.2-1900
- 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
- Vendor: means a person in the business of engaging in portable electronics transactions directly or indirectly. See Virginia Code 38.2-1875
Virginia Code > Title 38.2 > Chapter 18 > Article 8 – 1. Self Storage Insurance
Current as of: 2023 | Check for updates
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Terms Used In Virginia Code > Title 38.2 > Chapter 18 > Article 8 - 1. Self Storage Insurance
- 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.
- Appointee: means a person to which a powerholder makes an appointment of appointive property. See Virginia Code 64.2-2700
- Appointive property: means the property or property interest subject to a power of appointment. See Virginia Code 64.2-2700
- Commission: means the State Corporation Commission. 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.
- Customer: means a person who leases a self storage unit. See Virginia Code 38.2-1881
- Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
- Instrument: means a record. See Virginia Code 64.2-2700
- insurance producer: when used without qualification, means an individual or business entity that sells, solicits, or negotiates contracts of insurance or annuity in the Commonwealth. See Virginia Code 38.2-1800
- Insurer: means an insurance company. See Virginia Code 38.2-100
- 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
- Lessor: means a person in the business of engaging in self storage unit transactions directly or indirectly. See Virginia Code 38.2-1881
- 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.
- Power of appointment: means a power that enables a powerholder acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over the appointive property. See Virginia Code 64.2-2700
- Powerholder: means a person in which a donor creates a power of appointment. See Virginia Code 64.2-2700
- Process: includes subpoenas, the summons and complaint in a civil action, and process in statutory actions. See Virginia Code 1-237
- Self storage insurance: means insurance providing coverage against loss of or damage to items of personal property stored in a self storage unit in accordance with the terms of the self storage unit rental agreement. See Virginia Code 38.2-1881
- Self storage unit: means a unit in a building, part of a building, or place used only for storage of personal property by the customer leasing the unit. See Virginia Code 38.2-1881
- State: means any commonwealth, state, territory, district or insular possession of the United States. See Virginia Code 38.2-100
- Terminate: means the cancellation of the relationship between an insurance producer and the insurer, or the termination of an insurance producer's authority to transact insurance. See Virginia Code 38.2-1800
- Terms of the instrument: means the manifestation of the intent of the maker of the instrument regarding the instrument's provisions as expressed in the instrument or as may be established by other evidence that would be admissible in a legal proceeding. See Virginia Code 64.2-2700
- 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