§ 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.
History
The record of this law’s original creation isn’t available online. It has been modified 3 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 1960, chapter 80; in 1985, chapter 522; in 1996, chapter 77.
Code 1950, § 13.1-141; 1960, c. 80; 1985, c. 522; 1996, c. 77.