{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/54.1-1118.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/54.1-1118.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/54.1-1118.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/54.1-1118.html"}],"law_id":85483,"edition_id":1,"section_id":85483,"structure_id":13920,"section_number":"54.1-1118","catch_line":"Definitions","history":"1980, c. 635, \u00a7 54-145.3:1; 1984, c. 270; 1987, c. 555; 1988, cc. 393, 765; 1990, cc. 437, 911; 1994, c. 895; 1995, cc. 771, 784; 1996, cc. 934, 1006; 1997, c. 885; 1999, c. 55; 2013, c. 343; 2015, c. 409.","full_text":"As used in this article, unless the context requires a different meaning:\n\t\t“Act” means the Virginia Contractor Transaction Recovery Act.\n\t\t“Biennium” means a two-year period beginning on July 1 of an even-numbered year and continuing through June 30 of the next even-numbered year.\n\t\t“Claimant” means any person with an unsatisfied judgment involving residential construction against a regulant, who has filed a verified claim under this Act.\n\t\t“Fund” means the Virginia Contractor Transaction Recovery Fund.\n\t\t“Improper or dishonest conduct” includes only the wrongful taking or conversion of money, property or other things of value which involves fraud, material misrepresentation or conduct constituting gross negligence, continued incompetence, or intentional violation of the Uniform Statewide Building Code (\u00a7 36-97 et seq.). The term “improper or dishonest conduct” does not include mere breach of contract.\n\t\t“Judgment” includes an order of a United States Bankruptcy Court (i) declaring a claim against a regulant who is in bankruptcy to be a “Debt Nondischargeable in Bankruptcy,” (ii) extinguishing a claim against a regulant who is in bankruptcy and for which claim no distribution was made from the regulant’s bankruptcy estate but excluding any such claim disallowed by order of the bankruptcy court, or (iii) extinguishing a claim against a regulant who is in bankruptcy and for which claim only partial distribution was made from the regulant’s bankruptcy estate. An order of dismissal shall not be considered a judgment.\n\t\t“Regulant” means any individual, person, firm, corporation, association, partnership, joint venture or any other legal entity licensed by the Board for Contractors. “Regulant” shall not include contractors holding only the commercial building contractor classification or individuals licensed or certified in accordance with Article 3 (\u00a7 54.1-1128 et seq.) or Article 4 (\u00a7 54.1-1140 et seq.).\n\t\t“Verified claim” means a completed application, on a form designed by the Board, the truthfulness of which has been attested to by the claimant before a notary public, along with all required supporting documentation, that has been properly received by the Department in accordance with this chapter.","order_by":null,"text":{"0":{"id":306237,"text":"As used in this article, unless the context requires a different meaning:\n\t\t“Act” means the Virginia Contractor Transaction Recovery Act.\n\t\t“Biennium” means a two-year period beginning on July 1 of an even-numbered year and continuing through June 30 of the next even-numbered year.\n\t\t“Claimant” means any person with an unsatisfied judgment involving residential construction against a regulant, who has filed a verified claim under this Act.\n\t\t“Fund” means the Virginia Contractor Transaction Recovery Fund.\n\t\t“Improper or dishonest conduct” includes only the wrongful taking or conversion of money, property or other things of value which involves fraud, material misrepresentation or conduct constituting gross negligence, continued incompetence, or intentional violation of the Uniform Statewide Building Code (\u00a7 36-97 et seq.). The term “improper or dishonest conduct” does not include mere breach of contract.\n\t\t“Judgment” includes an order of a United States Bankruptcy Court (i) declaring a claim against a regulant who is in bankruptcy to be a “Debt Nondischargeable in Bankruptcy,” (ii) extinguishing a claim against a regulant who is in bankruptcy and for which claim no distribution was made from the regulant’s bankruptcy estate but excluding any such claim disallowed by order of the bankruptcy court, or (iii) extinguishing a claim against a regulant who is in bankruptcy and for which claim only partial distribution was made from the regulant’s bankruptcy estate. An order of dismissal shall not be considered a judgment.\n\t\t“Regulant” means any individual, person, firm, corporation, association, partnership, joint venture or any other legal entity licensed by the Board for Contractors. “Regulant” shall not include contractors holding only the commercial building contractor classification or individuals licensed or certified in accordance with Article 3 (\u00a7 54.1-1128 et seq.) or Article 4 (\u00a7 54.1-1140 et seq.).\n\t\t“Verified claim” means a completed application, on a form designed by the Board, the truthfulness of which has been attested to by the claimant before a notary public, along with all required supporting documentation, that has been properly received by the Department in accordance with this chapter.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13920,"edition_id":1,"name":"Virginia Contractor Transaction Recovery Act","identifier":"2","label":"article","depth":4,"order_by":1,"parent_id":13234,"metadata":{},"date_created":"2026-06-26 03:46:18","date_modified":"2026-06-26 03:46:18","permalink":{"id":239527,"object_type":"structure","relational_id":13920,"identifier":"2","token":"54.1\/II\/11\/2","url":"\/54.1\/II\/11\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13234,"edition_id":1,"name":"Contractors","identifier":"11","label":"chapter","depth":3,"order_by":1,"parent_id":12755,"metadata":{},"date_created":"2026-06-26 03:44:29","date_modified":"2026-06-26 03:44:29","permalink":{"id":239423,"object_type":"structure","relational_id":13234,"identifier":"11","token":"54.1\/II\/11","url":"\/54.1\/II\/11\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12755,"edition_id":1,"name":"Professions and Occupations Regulated by the Department of Professional and Occupational Regulation and Boards Within the Department","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12754,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":239415,"object_type":"structure","relational_id":12755,"identifier":"II","token":"54.1\/II","url":"\/54.1\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12754,"edition_id":1,"name":"Professions and Occupations","identifier":"54.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":239313,"object_type":"structure","relational_id":12754,"identifier":"54.1","token":"54.1","url":"\/54.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":85483,"structure_id":13920,"section_number":"54.1-1118","catch_line":"Definitions","url":"\/54.1-1118\/","token":"54.1\/II\/11\/2\/54.1-1118","metadata":false},{"id":65141,"structure_id":13920,"section_number":"54.1-1119","catch_line":"Assessments by Director; assignment to Fund; minimum balance; notice; penalties; costs of administration","url":"\/54.1-1119\/","token":"54.1\/II\/11\/2\/54.1-1119","metadata":false},{"id":86855,"structure_id":13920,"section_number":"54.1-1120","catch_line":"Recovery from Fund generally","url":"\/54.1-1120\/","token":"54.1\/II\/11\/2\/54.1-1120","metadata":false},{"id":73226,"structure_id":13920,"section_number":"54.1-1120.1","catch_line":"Recovery on bond","url":"\/54.1-1120.1\/","token":"54.1\/II\/11\/2\/54.1-1120.1","metadata":false},{"id":60926,"structure_id":13920,"section_number":"54.1-1121","catch_line":"Investigations","url":"\/54.1-1121\/","token":"54.1\/II\/11\/2\/54.1-1121","metadata":false},{"id":54973,"structure_id":13920,"section_number":"54.1-1122","catch_line":"Consideration of applications for payment","url":"\/54.1-1122\/","token":"54.1\/II\/11\/2\/54.1-1122","metadata":false},{"id":62297,"structure_id":13920,"section_number":"54.1-1123","catch_line":"Limitations upon recovery from Fund; certain actions not a bar to recovery","url":"\/54.1-1123\/","token":"54.1\/II\/11\/2\/54.1-1123","metadata":false},{"id":86010,"structure_id":13920,"section_number":"54.1-1124","catch_line":"Participation by Board or Director in proceeding","url":"\/54.1-1124\/","token":"54.1\/II\/11\/2\/54.1-1124","metadata":false},{"id":87375,"structure_id":13920,"section_number":"54.1-1125","catch_line":"Assignment of claimant's rights to Board; payment of claim","url":"\/54.1-1125\/","token":"54.1\/II\/11\/2\/54.1-1125","metadata":false},{"id":76787,"structure_id":13920,"section_number":"54.1-1126","catch_line":"Repealed","url":"\/54.1-1126\/","token":"54.1\/II\/11\/2\/54.1-1126","metadata":false},{"id":56430,"structure_id":13920,"section_number":"54.1-1127","catch_line":"No waiver by Board of disciplinary action against regulant","url":"\/54.1-1127\/","token":"54.1\/II\/11\/2\/54.1-1127","metadata":false}],"next_section":{"id":65141,"structure_id":13920,"section_number":"54.1-1119","catch_line":"Assessments by Director; assignment to Fund; minimum balance; notice; penalties; costs of administration","url":"\/54.1-1119\/","token":"54.1\/II\/11\/2\/54.1-1119","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/54.1-1118\/","history_text":"

This law was first created in 1980. The record of its establishment is cataloged in chapter 635 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1980 \u201cActs\u201d aren\u2019t available online. It has been modified 11 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1984, chapter 270; in 1987, chapter 555; in 1988, chapters 393 and 765; in 1990, chapters 437 and 911; in 1994, chapter 895<\/a>; in 1995, chapters 771<\/a> and 784<\/a>; in 1996, chapters 934<\/a> and 1006<\/a>; in 1997, chapter 885<\/a>; in 1999, chapter 55<\/a>; in 2013, chapter 343<\/a>; in 2015, chapter 409<\/a>.<\/p>","references":[{"id":79645,"section_number":"54.1-1106.2","catch_line":"Additional monetary penalty for certain violations","order_by":null,"url":"\/54.1-1106.2\/"},{"id":54973,"section_number":"54.1-1122","catch_line":"Consideration of applications for payment","order_by":null,"url":"\/54.1-1122\/"},{"id":82977,"section_number":"59.1-200","catch_line":"Prohibited practices","order_by":null,"url":"\/59.1-200\/"}],"refers_to":[{"id":78167,"section_number":"36-97","catch_line":"Definitions","order_by":null,"url":"\/36-97\/"},{"id":81684,"section_number":"54.1-1128","catch_line":"Definitions","order_by":null,"url":"\/54.1-1128\/"},{"id":72900,"section_number":"54.1-1140","catch_line":"Definitions","order_by":null,"url":"\/54.1-1140\/"}],"permalink":{"id":239529,"object_type":"law","relational_id":85483,"identifier":"54.1-1118","token":"54.1\/II\/11\/2\/54.1-1118","url":"\/54.1-1118\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/54.1-1118\/","token":"54.1\/II\/11\/2\/54.1-1118","dublin_core":{"Title":"Definitions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 54.1-1118","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

As used in this article, unless the context requires a different meaning:\n\t\t“Act<\/span>” means the Virginia Contractor<\/span> Transaction Recovery Act<\/span>.\n\t\t“Biennium<\/span>” means a two-year period beginning on July 1 of an even-numbered year and continuing through June 30 of the next even-numbered year.\n\t\t“Claimant<\/span>” means any person<\/span> with an unsatisfied judgment<\/span> involving residential construction against a regulant<\/span>, who has filed a verified claim<\/span> under this Act<\/span>.\n\t\t“Fund<\/span>” means the Virginia Contractor<\/span> Transaction Recovery Fund<\/span>.\n\t\t“Improper or dishonest conduct<\/span>” includes only the wrongful taking or conversion of money, property or other things of value<\/span> which involves fraud<\/span>, material<\/span> misrepresentation or conduct constituting gross negligence<\/span>, continued incompetence, or intentional violation of the Uniform Statewide Building Code (\u00a7 36-97<\/a> et seq.). The term “improper or dishonest conduct<\/span>” does not include mere breach of contract<\/span>.\n\t\t“Judgment<\/span>” includes an order<\/span> of a United States Bankruptcy Court<\/span> (i) declaring a claim against a regulant<\/span> who is in bankruptcy to be a “Debt Nondischargeable in Bankruptcy,” (ii) extinguishing a claim against a regulant<\/span> who is in bankruptcy and for which claim no distribution was made from the regulant<\/span>’s bankruptcy estate<\/span> but excluding any such claim disallowed by order<\/span> of the bankruptcy court<\/span>, or (iii) extinguishing a claim against a regulant<\/span> who is in bankruptcy and for which claim only partial distribution was made from the regulant<\/span>’s bankruptcy estate<\/span>. An order<\/span> of dismissal<\/span> shall not be considered a judgment<\/span>.\n\t\t“Regulant<\/span>” means any individual, person<\/span>, firm, corporation, association, partnership, joint venture or any other legal entity licensed by the Board<\/span> for Contractors<\/span>. “Regulant<\/span>” shall not include contractors<\/span> holding only the commercial building contractor<\/span> classification or individuals licensed or certified in accordance with Article 3 (\u00a7 54.1-1128<\/a> et seq.) or Article 4 (\u00a7 54.1-1140<\/a> et seq.).\n\t\t“Verified claim<\/span>” means a completed application, on a form designed by the Board<\/span>, the truthfulness of which has been attested to by the claimant<\/span> before a notary public, along with all required supporting documentation, that has been properly received by the Department<\/span> in accordance with this chapter.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDEFINITIONS (\u00a7 54.1-1118)\n\nAs used in this article, unless the context requires a different meaning:\n\t\t“Act” means the Virginia Contractor Transaction Recovery Act.\n\t\t“Biennium” means a two-year period beginning on July 1 of an\neven-numbered year and continuing through June 30 of the next even-numbered\nyear.\n\t\t“Claimant” means any person with an unsatisfied judgment involving\nresidential construction against a regulant, who has filed a verified claim\nunder this Act.\n\t\t“Fund” means the Virginia Contractor Transaction Recovery Fund.\n\t\t“Improper or dishonest conduct” includes only the wrongful taking\nor conversion of money, property or other things of value which involves fraud,\nmaterial misrepresentation or conduct constituting gross negligence, continued\nincompetence, or intentional violation of the Uniform Statewide Building Code\n(\u00a7 36-97 et seq.). The term “improper or dishonest conduct” does\nnot include mere breach of contract.\n\t\t“Judgment” includes an order of a United States Bankruptcy Court\n(i) declaring a claim against a regulant who is in bankruptcy to be a\n“Debt Nondischargeable in Bankruptcy,” (ii) extinguishing a claim\nagainst a regulant who is in bankruptcy and for which claim no distribution was\nmade from the regulant’s bankruptcy estate but excluding any such claim\ndisallowed by order of the bankruptcy court, or (iii) extinguishing a claim\nagainst a regulant who is in bankruptcy and for which claim only partial\ndistribution was made from the regulant’s bankruptcy estate. An order of\ndismissal shall not be considered a judgment.\n\t\t“Regulant” means any individual, person, firm, corporation,\nassociation, partnership, joint venture or any other legal entity licensed by\nthe Board for Contractors. “Regulant” shall not include contractors\nholding only the commercial building contractor classification or individuals\nlicensed or certified in accordance with Article 3 (\u00a7 54.1-1128 et seq.) or\nArticle 4 (\u00a7 54.1-1140 et seq.).\n\t\t“Verified claim” means a completed application, on a form designed\nby the Board, the truthfulness of which has been attested to by the claimant\nbefore a notary public, along with all required supporting documentation, that\nhas been properly received by the Department in accordance with this chapter.\n\nHISTORY: 1980, c. 635, \u00a7 54-145.3:1; 1984, c. 270; 1987, c. 555; 1988, cc. 393,\n765; 1990, cc. 437, 911; 1994, c. 895; 1995, cc. 771, 784; 1996, cc. 934, 1006;\n1997, c. 885; 1999, c. 55; 2013, c. 343; 2015, c. 409.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}