Terms Used In Virginia Code > Title 56 > Chapter 15 > Article 5 - 1. Provision of Certain Communications Services

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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 56-1
• 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.
• Locality: means a county, city, or town as the context may require. See Virginia Code 1-221
• Town: means any existing town or an incorporated community within one or more counties which became a town before noon, July 1, 1971, 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 1-254