Sections
Chapter 1 Definitions and General Provisions 6.2-100 – 6.2-107
Chapter 2 Money and Currency 6.2-200 – 6.2-204
Chapter 3 Interest and Usury 6.2-300 – 6.2-329
Chapter 4 Certain Lending Practices 6.2-400 – 6.2-437
Chapter 5 Equal Credit Opportunities 6.2-500 – 6.2-513

Terms Used In Virginia Code > Title 6.2 > Subtitle I - General Provisions

  • Acquittal:
    1. Judgement that a criminal defendant has not been proved guilty beyond a reasonable doubt.
    2. A verdict of "not guilty."
     
  • Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
  • Affected localities: means the locality in which a regulated introduction is proposed to be made and any locality within a three-mile radius of the location where the regulated introduction is proposed to be made. See Virginia Code 2.2-5501
  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • Agent: means a person who is employed by any institution of higher education or non-college degree school, whether such institution or school is located within or outside the Commonwealth, to act as an agent, solicitor, procurer, broker, or independent contractor to procure students or enrollees for any such institution or school by solicitation in any form at any place in the Commonwealth other than the office or principal location of such institution or school. See Virginia Code 23.1-213
  • Agricultural produce: means fruits and vegetables. See Virginia Code 3.2-4738
  • 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.
  • Amortization: Paying off a loan by regular installments.
  • Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. Source: FDIC
  • 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.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • 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
  • Approved seed potatoes: means disease-free potatoes and parts thereof that conform to the standards established by the Potato Board. See Virginia Code 3.2-1800
  • Arrest: Taking physical custody of a person by lawful authority.
  • 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
  • Association: means a corporation organized as an industrial loan association under the provisions of the Virginia Stock Corporation Act (§ 13. See Virginia Code 6.2-1400
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings.
  • 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.
  • Baccalaureate: means that bachelor's degrees or more advanced degrees, or both, are granted. See Virginia Code 23.1-100
  • 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.
  • Bank: means any national bank, any bank organized under Chapter 8 (§ 6. See Virginia Code 6.2-300
  • 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.
  • 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
  • Bequest: Property gifted by will.
  • bill in equity: shall mean a complaint in a civil action, as provided in the Rules of Supreme Court of Virginia;

    11. See Virginia Code 8.01-2

  • Board: means the Board of Historic Resources. See Virginia Code 10.1-2200
  • Board: means the Potato Board. See Virginia Code 3.2-1800
  • Board: means the Virginia Soil and Water Conservation Board. See Virginia Code 10.1-500
  • Board of supervisors: means the governing body of a county. See Virginia Code 15.2-102
  • Bond: means a bond executed by a surety company licensed to do business in the Commonwealth. See Virginia Code 3.2-4738
  • 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
  • Cardholder: means the person or organization named on the face of a credit card to whom or for whose benefit the credit card was issued by an issuer. See Virginia Code 6.2-424
  • Case law: The law as laid down in cases that have been decided in the decisions of the courts.
  • Cash buyer: means any person who obtains from the producer, or his representative, title, possession or control of any agricultural produce or contracts for the title, possession or control of any agricultural produce, and who buys any agricultural produce by paying to the producer at the time of obtaining possession or control, or at the time of contracting for the title, possession or control of any agricultural produce, the agreed price of such agricultural produce in coin or currency, certified checks, cashier's checks or drafts issued by a bank. See Virginia Code 3.2-4738
  • Certificate: includes a diploma. See Virginia Code 23.1-213
  • 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
  • Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
  • City: includes all cities chartered under the Commonwealth. See Virginia Code 10.1-500
  • 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
  • Civil forfeiture: The loss of ownership of property used to conduct illegal activity.
  • Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
  • College: means any associate-degree-granting institution of higher education or institution of higher education at which a bachelor's degree is the most advanced degree that is granted. See Virginia Code 23.1-213
  • Collegial body: means a governmental entity whose power or authority is vested within its membership. See Virginia Code 1-209
  • Commissioner: means the Commissioner of Financial Institutions. See Virginia Code 6.2-100
  • 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.
  • Comprehensive community college: means an associate-degree-granting public institution of higher education governed by the State Board that offers instruction in one or more of the following fields:

    1. See Virginia Code 23.1-100

  • Confidential business information: means information entitled to confidential treatment under subdivision A 1 or A 2 of § 2. See Virginia Code 2.2-5501
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: means any agreement of an authority with or for the benefit of an obligee whether contained in a resolution, trust indenture, mortgage, lease, bond or other instrument. See Virginia Code 15.2-5301
  • Coordinated Framework: means the federal Coordinated Framework for the Regulation of Biotechnology set forth in 51 Fed. See Virginia Code 2.2-5501
  • Council: means the State Council of Higher Education for Virginia. See Virginia Code 23.1-100
  • Council: means the governing body of a city or town. See Virginia Code 15.2-102
  • County: includes towns. See Virginia Code 10.1-500
  • County: means any existing county or such unit hereafter created. See Virginia Code 15.2-102
  • Court: means any court vested with appropriate jurisdiction under the Constitution and laws of the Commonwealth. See Virginia Code 19.2-5
  • Credit card: means any instrument or device, whether known as a credit card, credit plate, or by any other name, issued with or without fee by an issuer for the use of the cardholder in obtaining money, goods, services, or any other thing of value. See Virginia Code 6.2-424
  • Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC
  • Credit union: means any credit union organized under Chapter 13 (§ 6. See Virginia Code 6.2-300
  • Dealer: means any person who buys, sells, solicits for sale, processes for sale or resale, resells, exchanges, negotiates, purchases or contracts for processing or transfers any agricultural produce of a producer. See Virginia Code 3.2-4738
  • Degree: means any earned award at the associate, baccalaureate, graduate, first professional, or specialist levels that represents satisfactory completion of the requirements of a program or course of study or instruction beyond the secondary school level. See Virginia Code 23.1-213
  • Degree credit: means any earned credits awarded for successful completion of the requirements of a course of study or instruction beyond the secondary school level that may be used toward completion of a certificate or degree. See Virginia Code 23.1-213
  • Department: means the Department of Conservation and Recreation. See Virginia Code 10.1-100
  • Department: means the Department of Historic Resources. See Virginia Code 10.1-2200
  • Department: means the department designated by the Secretary of Commerce and Trade to implement the requirements of this chapter for certain types or classes of regulated introductions. See Virginia Code 2.2-5501
  • Devise: To gift property by will.
  • Director: means the Director of the Department of Conservation and Recreation. See Virginia Code 10.1-100
  • Director: means the Director of the Department of Historic Resources. See Virginia Code 10.1-2200
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • distance learning modality: means any course offered by a postsecondary school for which the primary mode of instructional delivery is by television, videocassette or disc, film, radio, computer, or other telecommunications devices. See Virginia Code 23.1-213
  • 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
  • Employee: means any person who is regularly employed full time on either a salaried or wage basis, whose tenure is not restricted as to temporary or provisional appointment, in the service of, and whose compensation is payable by, no more often than biweekly, in whole or in part, a state agency. See Virginia Code 2.2-307
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • 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
  • 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.
  • Federal regulator: means a federal department, agency, or other instrumentality of the federal government, or a designee of such federal instrumentality, which is responsible for regulating an introduction of a genetically engineered organism into the environment under the Coordinated Framework. See Virginia Code 2.2-5501
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Fiduciary: includes a guardian, committee, trustee, executor, conservator, or personal representative. See Virginia Code 64.2-100
  • Fiduciary: shall include any one or more of the following:

    a. See Virginia Code 8.01-2

  • Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
  • Finance charge: has the meaning assigned to it in Consumer Financial Protection Bureau Regulation Z, 12 C. See Virginia Code 6.2-100
  • 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
  • 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
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • 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
  • Governing body: means the board of supervisors of a county, council of a city, or council of a town, as the context may require. See Virginia Code 15.2-102
  • 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
  • Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
  • Grantor: The person who establishes a trust and places property into it.
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Handler: means any person who is a processor, dealer, shipper, or exporter who purchases potatoes from a grower, or who acts as the grower's agent, or any person who holds a produce dealer or commission merchant license from the Department. See Virginia Code 3.2-1800
  • Impeachment: (1) The process of calling something into question, as in "impeaching the testimony of a witness." (2) The constitutional process whereby the House of Representatives may "impeach" (accuse of misconduct) high officers of the federal government for trial in the Senate.
  • Impound water: means to impound water for use in carrying out any part of the process necessary in the production or preparation of minerals. See Virginia Code 45.2-1300
  • 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
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • institution: means any person or other entity, other than a public institution of higher education or any other entity authorized to issue bonds pursuant to Chapter 11 (§ 23. See Virginia Code 23.1-213
  • Inter vivos: Transfer of property from one living person to another living person.
  • 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
  • Issuer: means the business organization or financial institution or its duly authorized agent that issues a credit card. See Virginia Code 6.2-424
  • Juror: A person who is on the jury.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
  • Livestock auction market: means any place of business or establishment where, during the regular course of business, cattle, sheep, swine, or other livestock are offered or exposed for sale, or sold, by weight, or by head, at auction, for compensation or profit. See Virginia Code 3.2-5600
  • Loan: means a loan or forbearance of money. See Virginia Code 6.2-300
  • local government: shall be construed to mean a county, city, or town as the context may require. See Virginia Code 15.2-102
  • Locality: means any county, city or town located within the Commonwealth. See Virginia Code 2.2-5501
  • Mediation: means a process in which a mediator facilitates communication between the parties and, without deciding the issues or imposing a solution on the parties, enables them to understand and to reach a mutually agreeable resolution to their dispute. See Virginia Code 8.01-581.21
  • Mediation program: means a program through which mediators or mediation is made available and includes the director, agents and employees of the program. See Virginia Code 8.01-581.21
  • Mediator: means an impartial third party selected by agreement of the parties to a controversy to assist them in mediation. See Virginia Code 8.01-581.21
  • Mining: means the breaking or disturbing of the surface soil or rock in order to facilitate or accomplish the extraction or removal of minerals or any activity constituting all or part of a process for the extraction or removal of minerals so as to make them suitable for commercial, industrial, or construction use. See Virginia Code 45.2-1200
  • Money of the claim: means the money determined as proper pursuant to § 8. See Virginia Code 8.01-465.14
  • 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: means a loan made to an individual, the proceeds of which are to be used primarily for personal, family or household purposes, which loan is secured by a mortgage or deed of trust upon any interest in one- to four-family residential property located in the Commonwealth, regardless of where made, including the renewal or refinancing of any such loan, but excluding (i) loans or extensions of credit to buyers of real property for any part of the purchase price of such property by persons selling such property owned by them, (ii) loans to persons related to the lender by blood or marriage, and (iii) loans to persons who are bona fide employees of the lender. See Virginia Code 6.2-1400
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Non-college degree school: includes academic-vocational non-college degree schools and vocational non-college degree schools. See Virginia Code 23.1-213
  • Nondegree credit: means any earned credits awarded for successful completion of the requirements of a course of study or instruction beyond the secondary school level that may be used toward completion of a certificate but may not be used to earn a degree. See Virginia Code 23.1-213
  • Nonlegislative citizen member: means any natural person who is not a member of the General Assembly of Virginia. See Virginia Code 1-225
  • Nonprofit private institution of higher education: means any postsecondary school, as that term is defined in § 23. See Virginia Code 23.1-100
  • Nonstate agency: means any public or private foundation, authority, institute, museum, corporation, or similar organization that is (i) not a unit of state government or a political subdivision of the Commonwealth as established by general law or special act and (ii) wholly or principally supported by state funds. See Virginia Code 2.2-307
  • 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
  • Office: means the Office of the State Inspector General. See Virginia Code 2.2-307
  • Officer: means any person who is elected or appointed to a public office in a state agency. See Virginia Code 2.2-307
  • Official inspection: means an inspection by the Commissioner of a commercially used weight or measure pursuant to § 3. See Virginia Code 3.2-5700
  • Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) Source: OCC
  • open-end credit plan: means consumer credit extended by a creditor under a plan in which: (i) the creditor reasonably contemplates repeated transactions; (ii) the creditor may impose a finance charge from time to time on an outstanding unpaid balance; and (iii) the amount of credit that may be extended to the consumer during the term of the plan, up to any limit set by the creditor, is generally made available to the extent that any outstanding balance is repaid. See Virginia Code 6.2-300
  • Operator: means any individual, corporation or corporation officer, firm, joint venture, partnership, business trust, association, or any other group or combination acting as a unit, or any legal entity that is engaged in mining. See Virginia Code 45.2-1200
  • Out-of-state: means formed, chartered, established, or incorporated outside of the Commonwealth. See Virginia Code 23.1-213
  • Outlays: Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations. Outlays during a fiscal year may be for payment of obligations incurred in prior years or in the same year.
  • Payment device: means any credit card, any "accepted card or other means of access" as defined in 15 U. See Virginia Code 6.2-424
  • Person: means an individual, a corporation, government or governmental subdivision or agency, business trust, estate, trust, joint venture, partnership, association, two or more persons having a joint or common interest, or any other legal or commercial entity. See Virginia Code 8.01-465.14
  • person under a disability: as used in this article shall have the meanings ascribed to them in § 8. See Virginia Code 8.01-67
  • Person under a disability: shall include :

    a. See Virginia Code 8.01-2

  • Person under disability: includes a person less than 18 years of age. See Virginia Code 1-232
  • Personal estate: includes chattels real and such other estate as, upon the death of the owner intestate, would devolve upon his personal representative. See Virginia Code 1-233
  • Plea agreement: An arrangement between the prosecutor, the defense attorney, and the defendant in which the defendant agrees to plead guilty in exchange for special considerations. Source:
  • 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.
  • Postsecondary school: includes programs of academic, vocational, and continuing professional education, except courses or programs of continuing professional education set forth in subdivision B 4 of § 23. See Virginia Code 23.1-213
  • Potatoes: means all varieties of potatoes except sweet potatoes. See Virginia Code 3.2-1800
  • 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.
  • 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
  • Probate: Proving a will
  • Processor: means any person operating any plant in the Commonwealth that freezes, dehydrates, cans, or otherwise changes the physical form or characteristics of agricultural produce. See Virginia Code 3.2-4738
  • Producer: means any person who, in a calendar year, grows a minimum of 40,000 pounds of potatoes in the Commonwealth. See Virginia Code 3.2-1800
  • Producer: means any person who produces agricultural produce in Virginia. See Virginia Code 3.2-4738
  • Program: means a curriculum or course of study in a discipline or interdisciplinary area that leads to a degree or certificate. See Virginia Code 23.1-213
  • project: means any and all medical facilities and approaches thereto and appurtenances thereof. See Virginia Code 15.2-5301
  • Proprietary: means privately owned, privately managed, and corporately structured as a for-profit entity. See Virginia Code 23.1-213
  • Proprietary private institution of higher education: means any postsecondary school, as that term is defined in § 23. See Virginia Code 23.1-100
  • Public corporation: means the Commonwealth of Virginia or any political subdivision thereof or any incorporated municipality therein or any public agency of the Commonwealth or of any political subdivision thereof or of any municipality therein. See Virginia Code 1-219.1
  • 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
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Reclamation: means the restoration or conversion of disturbed land to a stable condition that minimizes or prevents adverse disruption and the injurious effects of such disruption and presents an opportunity for further productive use if such use is reasonable. See Virginia Code 45.2-1200
  • Refuse: means waste material resulting from a mineral mining operation. See Virginia Code 45.2-1300
  • Regulated introduction: means a planned introduction into the environment for which the Coordinated Framework requires that the person proposing to commence the introduction into the environment do one or more of the following:

    1. See Virginia Code 2.2-5501

  • Remainderman: One entitled to the remainder of an estate after a particular reserved right or interest, such as a life tenancy, has expired.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
  • Right of rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, who receives a full refund of all fees paid. The right of rescission is guaranteed by the Truth in Lending Act (TILA). Source: OCC
  • Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
  • sale: includes barter and exchange. See Virginia Code 3.2-5600
  • Savings institution: means any savings institution, as defined in § 6. See Virginia Code 6.2-300
  • sealing: means to (i) restricting dissemination of criminal history record information contained in the Central Criminal Records Exchange, including any records relating to an arrest, charge, or conviction, in accordance with the purposes set forth in § 19. See Virginia Code 19.2-392.5
  • Seed potatoes: means potatoes and parts thereof intended for the propagation or production of commercial potatoes. See Virginia Code 3.2-1800
  • Silt: means fine particles resulting from a mineral mining operation, suspended in or deposited by water. See Virginia Code 45.2-1300
  • Site: means a location in the Commonwealth where a postsecondary school (i) offers at least one course on an established schedule and (ii) enrolls at least two individuals who are not members of the same household, regardless of the presence or absence of administrative capability at such location. See Virginia Code 23.1-213
  • Sole ownership: The type of property ownership in which one individual holds legal title to the property and has full control of it.
  • Standard: means a required basis for conformance, adjustment, or verification. See Virginia Code 3.2-5700
  • State agency: means any agency, institution, board, bureau, commission, council, or instrumentality of state government in the executive branch listed in the appropriation act. See Virginia Code 2.2-307
  • State Board: means the State Board for Community Colleges. See Virginia Code 23.1-100
  • Subordinate mortgage or deed of trust: means a mortgage or deed of trust that is subject to a prior mortgage or deed of trust in existence at the time of the making of the loan secured by such subordinate mortgage or deed of trust. See Virginia Code 6.2-300
  • System: means the Virginia Community College System. See Virginia Code 23.1-100
  • Testator: A male person who leaves a will at death.
  • 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.
  • 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
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • 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 trustee under a probated will or an inter vivos trust instrument. See Virginia Code 64.2-100
  • Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • University: means any baccalaureate institution of higher education. See Virginia Code 23.1-213
  • Usury: Charging an illegally high interest rate on a loan. Source: OCC
  • Voter: means a qualified voter as defined in § 24. See Virginia Code 15.2-102
  • Water: means water used in a mining operation. See Virginia Code 45.2-1300
  • Weighmaster: means the person responsible for weighing livestock that will be offered for sale, based on his weight determination. See Virginia Code 3.2-5600
  • Weight: means the net weight when used in connection with this chapter. See Virginia Code 3.2-5600
  • Weight or measure: means the terms as defined in § 3. See Virginia Code 3.2-5700