Terms Used In Virginia Code > Title 9.1 > Chapter 14 - Youth and Gang Violence Prevention Grant Fund and Program

• Check: means a draft drawn on the account of an individual at a depository institution. See Virginia Code 6.2-1800
• Chief: means the Chief of the Division of Mines of the Department of Energy. See Virginia Code 45.2-100
• Commission: means the State Corporation Commission. See Virginia Code 6.2-100
• Fair Debt Collection Practices Act: The Fair Debt Collection Practices Act is a set of United States statutes added as Title VIII of the Consumer Credit Protection Act. Its purpose is to ensure ethical practices in the collection of consumer debts and to provide consumers with an avenue for disputing and obtaining validation of debt information in order to ensure the information's accuracy. It is often used in conjunction with the Fair Credit Reporting Act. ^{Source: OCC}
• Interest: means all charges payable directly or indirectly by a borrower to a licensee as a condition to a loan, including fees, service charges, and renewal charges, and any ancillary product sold in connection with a loan, but does not include the monthly maintenance fees, deposit item return fees, or late charges authorized under § 6. See Virginia Code 6.2-1800
• Licensee: means a person to whom a license has been issued under this chapter. See Virginia Code 6.2-1800
• Person: means any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or other legal or commercial entity. See Virginia Code 6.2-100
• Poultry: means any domesticated bird, whether live or dead. See Virginia Code 3.2-5400
• 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}
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Short-term loan: means a loan made pursuant to this chapter. See Virginia Code 6.2-1800