Terms Used In Virginia Code > Title 51.1 > Chapter 5 - Group Insurance Program

• Accident: means an accident covered under the group insurance coverage purchased by the Board. See Virginia Code 51.1-500
• Advertisement: includes any part of an advertisement recognizable as such. See Virginia Code 33.2-1200
• Advertising structure: means any rigid or semirigid material, with or without any advertisement displayed thereon, situated upon or attached to real property outdoors, primarily or principally for the purpose of furnishing a background or base or support upon which an advertisement may be posted or displayed. See Virginia Code 33.2-1200
• Amortization: Paying off a loan by regular installments.
• Bank: means the Virginia Transportation Infrastructure Bank created in § 33. See Virginia Code 33.2-1501
• Billboard sign: means any sign, advertisement, or advertising structure as defined in this section owned by a person, firm, or corporation in the business of outdoor advertising. See Virginia Code 33.2-1200
• Board: means the Board of Trustees of the Virginia Retirement System. See Virginia Code 51.1-500
• College savings trust account: means the same as that term is defined in § 23. See Virginia Code 51.1-500
• Company: means insurance company. See Virginia Code 51.1-500
• Contributor: means the same as that term is defined in § 23. See Virginia Code 51.1-500
• Credit enhancements: means surety bonds, insurance policies, letters of credit, guarantees, and other forms of collateral or security. See Virginia Code 33.2-1501
• Creditworthiness: means attributes such as revenue stability, debt service coverage, reserves, and other factors commonly considered in assessing the strength of the security for indebtedness. See Virginia Code 33.2-1501
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Dependent: A person dependent for support upon another.
• Dependent child: means (i) the insured employee's unmarried natural or legally adopted children who are not self-supporting; (ii) the insured employee's unmarried stepchildren living full time with the insured employee in a parent-child relationship and who can be claimed as a dependent on the insured employee's federal income tax return; (iii) any other children if they are in the insured employee's court-ordered custody; or (iv) other dependent children of the employee's family who are eligible for coverage under the family membership program offered under policies and procedures of the Department of Human Resource Management governing health insurance plans administered pursuant to § 2. See Virginia Code 51.1-500
• 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.
• Dismemberment: means a dismemberment covered under the group insurance coverage purchased by the Board. See Virginia Code 51.1-500
• Eligible borrower: means any (i) private entity; (ii) governmental entity; (iii) instrumentality, corporation, or entity established by any of the foregoing pursuant to § 33. See Virginia Code 33.2-1501
• Federal highway reimbursements: means all federal-aid highway construction reimbursements and any other federal highway assistance received from time to time by the Commonwealth under or in accordance with Title 23 of the United States Code or any successor program established under federal law from the Federal Highway Administration and any successor or additional federal agencies. See Virginia Code 33.2-1511
• Felonious assault: means a physical assault (i) by another person resulting in bodily harm to an insured employee; (ii) that takes place while such employee is performing his customary duties at the employer's normal place of business or at other places the employer's business requires him to travel; (iii) that involves the use of force or violence with the intent to cause harm; and (iv) that is a felony or misdemeanor under applicable law. See Virginia Code 51.1-500
• 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
• Governmental entity: means any (i) locality; (ii) local, regional, state, or federal entity; transportation authority, planning district, commission, or political subdivision created by the General Assembly or pursuant to the Constitution and laws of the Commonwealth; or public transportation entity owned, operated, or controlled by one or more local entities; (iii) entity established by interstate compact; (iv) instrumentality, corporation, or entity established by any of the foregoing pursuant to § 33. See Virginia Code 33.2-1501
• Grant: includes direct cash payments made to pay or reimburse all or a portion of interest payments made by a grantee on a debt obligation. See Virginia Code 33.2-1501
• Highway: means every way or place of whatever nature open to the use of the public for purposes of vehicular travel in the Commonwealth. See Virginia Code 33.2-1200
• highway construction: means highway, passenger and freight rail, or public transportation purposes. See Virginia Code 33.2-100
• Immediate family member: means the insured employee's spouse, children, parents, grandparents, grandchildren, brothers and sisters and their spouses. See Virginia Code 51.1-500
• insurance program: means the plan covered under the policy purchased by the Board which provides group life, accidental death, and dismemberment insurance coverage for employees. See Virginia Code 51.1-500
• 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}
• Lawfully erected: means any sign that was erected pursuant to the issuance of a permit from the Commissioner of Highways under § 33. See Virginia Code 33.2-1200
• Loan: means an obligation subject to repayment that is provided by the Bank to an eligible borrower to finance all or a part of the eligible cost of a project incurred by the eligible borrower or other project sponsor. See Virginia Code 33.2-1501
• Management agreement: means the memorandum of understanding or interagency agreement among the manager, the Secretary of Finance, and the Board as authorized under subsection B of § 33. See Virginia Code 33.2-1501
• Manager: means the Virginia Resources Authority serving as the manager, administrator, and trustee of funds disbursed from the Bank in accordance with the provisions of this article and the management agreement. See Virginia Code 33.2-1501
• Notes: means those notes authorized and issued pursuant to § 33. See Virginia Code 33.2-1511
• Other financial assistance: includes capital or debt reserves for bonds or debt instrument financing, provision of letters of credit and other forms of credit enhancement, and other lawful forms of financing and methods of leveraging funds that are approved by the manager. See Virginia Code 33.2-1501
• Person: includes an individual, partnership, association, or corporation. See Virginia Code 33.2-1200
• Primary state highway system: consists of all highways and bridges under the jurisdiction and control of the Commonwealth Transportation Board and the Commissioner of Highways and not in the secondary state highway system. See Virginia Code 33.2-100
• Private entity: means any private or nongovernmental entity that has executed an interim or comprehensive agreement to develop and construct a transportation infrastructure project pursuant to the Public-Private Transportation Act of 1995 (§ 33. See Virginia Code 33.2-1501
• Project: means (i) the construction, reconstruction, rehabilitation, or replacement of any interstate, state highway, toll road, tunnel, local street or road, or bridge; (ii) the construction, reconstruction, rehabilitation, or replacement of any (a) mass transit, (b) commuter, passenger, or freight rail, (c) port, (d) airport, or (e) commercial space flight facility; or (iii) the acquisition of any rolling stock, vehicle, or equipment to be used in conjunction with clause (i) or (ii). See Virginia Code 33.2-1501
• Project obligation: means any bond, note, debenture, interim certificate, grant or revenue anticipation note, lease or lease-purchase or installment sales agreement, or credit enhancements issued, incurred, or entered into by an eligible borrower to evidence a loan, or any financing agreements, reimbursement agreements, guarantees, or other evidences of an obligation of an eligible borrower or other project sponsor to pay or guarantee a loan. See Virginia Code 33.2-1501
• Project sponsor: means any private entity or governmental entity that is involved in the planning, design, right-of-way acquisition, engineering, construction, maintenance, or financing of a project. See Virginia Code 33.2-1501
• Qualifying child: means a dependent child less than eighteen years of age, or if eighteen years of age or older a dependent child enrolled in high school. See Virginia Code 51.1-500
• Retirement System: means the Virginia Retirement System. See Virginia Code 51.1-500
• Safety restraint system: means a properly installed seatbelt, lap and shoulder restraint or other restraint approved by the National Highway Traffic Safety Administration or any successor governmental agency. See Virginia Code 51.1-500
• Series: means any grouping of Notes issued as designated as such by the Board as necessary or desirable for administrative convenience, satisfaction of federal tax or securities law requirements, or any similar purpose. See Virginia Code 33.2-1511
• Sign: means any outdoor sign, display, device, figure, painting, drawing, message, placard, poster, billboard, or other thing that is designed, intended, or used to advertise or inform, any part of the advertising or informative contents of which is visible from any highway. See Virginia Code 33.2-1200
• Substantial project completion: means the opening of a project for vehicular or passenger traffic or the handling of cargo and freight. See Virginia Code 33.2-1501