§ 13.1-982. Definitions
As used in this chapter, unless a different meaning is required by the context, the following words and phrases shall have the following meanings:
"Board of directors". - The board of directors of a corporation created under this chapter.
"Commission". - The State Corporation Commission of Virginia.
"Corporation". - A Virginia industrial development corporation created under the provisions of this chapter.
"Financial institution". - Any bank, trust company, savings institution, industrial loan association or insurance company.
"Loan limit". - For any member, the maximum amount permitted to be outstanding at one time on loans made by such member to a corporation as determined under the provisions of this chapter.
"Member". - Any financial institution which shall undertake to lend money to a corporation created under this chapter, upon its call and in accordance with the provisions of this chapter.
(Code 1950, § 13.1-141; 1960, c. 80; 1985, c. 522; 1996, c. 77.)
Sections: Previous 13.1-981 13.1-982 13.1-983 13.1-984 13.1-985 13.1-986 13.1-987 13.1-988 13.1-989 13.1-990 13.1-991 13.1-992 13.1-993 13.1-994 13.1-995 NextLast modified: April 2, 2009