{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/56-88.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/56-88.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/56-88.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/56-88.html"}],"law_id":79652,"edition_id":1,"section_id":79652,"structure_id":15494,"section_number":"56-88","catch_line":"Definitions","history":"1940, p. 425; Michie Code 1942, \u00a7 3774l; 1992, c. 376; 2000, cc. 528, 543; 2009, c. 746.","full_text":"In this chapter the following terms shall have the following meanings:\n\t\t“Acquire” or “acquisition” includes any purchase or other acquisition, whether by payment, exchange, gift, conveyance, lease, license, merger, consolidation or otherwise.\n\t\t“Company” means a corporation, a partnership, an association, a joint-stock company, a business trust or an organized group of persons, whether incorporated or not; or any receiver, trustee or other liquidating agent of any of the foregoing in his capacity as such; but not a municipal corporation or county.\n\t\t“Dispose of” or “disposition” includes any sale or other disposition, whether by payment, exchange, gift, conveyance, lease, license, merger, consolidation or otherwise.\n\t\t“Public utility” means any company which owns or operates facilities within the Commonwealth for the generation, transmission or distribution of electric energy for sale; for the production, transmission or distribution, otherwise than in enclosed portable containers, of natural or manufactured gas for sale for heat, light or power, but excluding any company described in subdivision (b)(8) or (b)(10) of \u00a7 56-265.1; or for the furnishing of sewerage facilities or water.\n\t\t“Utility assets” means the facilities in place of any public utility or municipality for the production, transmission or distribution of electric energy or natural or manufactured gas, or for the furnishing of sewerage facilities or water.\n\t\t“Utility security” means any note, draft, debenture, bond, share of stock, certificate, collateral trust certificate, preorganization certificate or subscription, transferable share, investment contract, receiver’s or trustee’s certificate or any other instrument or interest commonly known as a security which is issued, assumed or guaranteed by any public utility or any company which would be a public utility if the facilities owned or operated by it were within the Commonwealth, or any company substantially engaged in the ownership of any of the aforesaid securities or in supplying management or advice to any of the aforesaid companies; or any certificate of deposit for, voting trust certificate for, certificate of interest or participation in, temporary or interim certificate for, receipt for, guaranty of, assumption of liability on, or warrant or right to subscribe to or purchase or acquire, any of the aforesaid securities.","order_by":null,"text":{"0":{"id":285390,"text":"In this chapter the following terms shall have the following meanings:\n\t\t“Acquire” or “acquisition” includes any purchase or other acquisition, whether by payment, exchange, gift, conveyance, lease, license, merger, consolidation or otherwise.\n\t\t“Company” means a corporation, a partnership, an association, a joint-stock company, a business trust or an organized group of persons, whether incorporated or not; or any receiver, trustee or other liquidating agent of any of the foregoing in his capacity as such; but not a municipal corporation or county.\n\t\t“Dispose of” or “disposition” includes any sale or other disposition, whether by payment, exchange, gift, conveyance, lease, license, merger, consolidation or otherwise.\n\t\t“Public utility” means any company which owns or operates facilities within the Commonwealth for the generation, transmission or distribution of electric energy for sale; for the production, transmission or distribution, otherwise than in enclosed portable containers, of natural or manufactured gas for sale for heat, light or power, but excluding any company described in subdivision (b)(8) or (b)(10) of \u00a7 56-265.1; or for the furnishing of sewerage facilities or water.\n\t\t“Utility assets” means the facilities in place of any public utility or municipality for the production, transmission or distribution of electric energy or natural or manufactured gas, or for the furnishing of sewerage facilities or water.\n\t\t“Utility security” means any note, draft, debenture, bond, share of stock, certificate, collateral trust certificate, preorganization certificate or subscription, transferable share, investment contract, receiver’s or trustee’s certificate or any other instrument or interest commonly known as a security which is issued, assumed or guaranteed by any public utility or any company which would be a public utility if the facilities owned or operated by it were within the Commonwealth, or any company substantially engaged in the ownership of any of the aforesaid securities or in supplying management or advice to any of the aforesaid companies; or any certificate of deposit for, voting trust certificate for, certificate of interest or participation in, temporary or interim certificate for, receipt for, guaranty of, assumption of liability on, or warrant or right to subscribe to or purchase or acquire, any of the aforesaid securities.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":15494,"edition_id":1,"name":"Utility Transfers Act","identifier":"5","label":"chapter","depth":2,"order_by":1,"parent_id":12881,"metadata":{},"date_created":"2026-06-26 03:55:33","date_modified":"2026-06-26 03:55:33","permalink":{"id":251147,"object_type":"structure","relational_id":15494,"identifier":"5","token":"56\/5","url":"\/56\/5\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12881,"edition_id":1,"name":"Public Service Companies","identifier":"56","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:58","date_modified":"2026-06-26 03:43:58","permalink":{"id":248473,"object_type":"structure","relational_id":12881,"identifier":"56","token":"56","url":"\/56\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":79652,"structure_id":15494,"section_number":"56-88","catch_line":"Definitions","url":"\/56-88\/","token":"56\/5\/56-88","metadata":false},{"id":72109,"structure_id":15494,"section_number":"56-88.1","catch_line":"Acquisition or disposition of control of a public utility","url":"\/56-88.1\/","token":"56\/5\/56-88.1","metadata":false},{"id":83839,"structure_id":15494,"section_number":"56-89","catch_line":"Acquisition or disposition of utility assets or utility securities","url":"\/56-89\/","token":"56\/5\/56-89","metadata":false},{"id":66580,"structure_id":15494,"section_number":"56-90","catch_line":"Procedure for authority to acquire or dispose of utility assets or securities","url":"\/56-90\/","token":"56\/5\/56-90","metadata":false},{"id":78787,"structure_id":15494,"section_number":"56-90.1","catch_line":"Sale of utility assets or undivided fractional interest therein; taxation","url":"\/56-90.1\/","token":"56\/5\/56-90.1","metadata":false},{"id":79669,"structure_id":15494,"section_number":"56-90.2","catch_line":"Fair market valuations of water and sewer utility asset acquisitions","url":"\/56-90.2\/","token":"56\/5\/56-90.2","metadata":false},{"id":59052,"structure_id":15494,"section_number":"56-91","catch_line":"Violations of chapter","url":"\/56-91\/","token":"56\/5\/56-91","metadata":false},{"id":62643,"structure_id":15494,"section_number":"56-92","catch_line":"Short title","url":"\/56-92\/","token":"56\/5\/56-92","metadata":false}],"next_section":{"id":72109,"structure_id":15494,"section_number":"56-88.1","catch_line":"Acquisition or disposition of control of a public utility","url":"\/56-88.1\/","token":"56\/5\/56-88.1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/56-88\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 3 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 1992, chapter 376; in 2000, chapters 528<\/a> and 543<\/a>; in 2009, chapter 746<\/a>.<\/p>","references":[{"id":59777,"section_number":"56-265.13:7","catch_line":"Regulation by State Corporation Commission","order_by":null,"url":"\/56-265.13_7\/"},{"id":87278,"section_number":"56-54.5","catch_line":"Powers of the Commission","order_by":null,"url":"\/56-54.5\/"},{"id":82389,"section_number":"56-585.1:11","catch_line":"Development of offshore wind capacity","order_by":null,"url":"\/56-585.1_11\/"},{"id":86105,"section_number":"56-590","catch_line":"Divestiture, functional separation and other corporate relationships","order_by":null,"url":"\/56-590\/"},{"id":79669,"section_number":"56-90.2","catch_line":"Fair market valuations of water and sewer utility asset acquisitions","order_by":null,"url":"\/56-90.2\/"}],"refers_to":[{"id":85772,"section_number":"56-265.1","catch_line":"Definitions","order_by":null,"url":"\/56-265.1\/"}],"permalink":{"id":251149,"object_type":"law","relational_id":79652,"identifier":"56-88","token":"56\/5\/56-88","url":"\/56-88\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/56-88\/","token":"56\/5\/56-88","dublin_core":{"Title":"Definitions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 56-88","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

In this chapter the following terms shall have the following meanings:\n\t\t“Acquire<\/span>” or “acquisition<\/span>” includes any purchase or other acquisition<\/span>, whether by payment, exchange, gift, conveyance, lease, license, merger, consolidation<\/span> or otherwise.\n\t\t“Company<\/span>” means a corporation, a partnership, an association, a joint-stock company<\/span>, a business trust or an organized group of persons<\/span>, whether incorporated or not; or any receiver, trustee or other liquidating agent of any of the foregoing in his capacity as such; but not a municipal corporation<\/span> or county.\n\t\t“Dispose of<\/span>” or “disposition<\/span>” includes any sale or other disposition<\/span>, whether by payment, exchange, gift, conveyance, lease, license, merger, consolidation<\/span> or otherwise.\n\t\t“Public utility<\/span>” means any company<\/span> which owns or operates facilities within the Commonwealth for the generation, transmission or distribution of electric energy for sale; for the production, transmission or distribution, otherwise than in enclosed portable containers, of natural or manufactured gas for sale for heat, light or power, but excluding any company<\/span> described in subdivision (b)(8) or (b)(10) of \u00a7 56-265.1<\/a>; or for the furnishing of sewerage facilities or water.\n\t\t“Utility assets<\/span>” means the facilities in place of any public utility<\/span> or municipality<\/span> for the production, transmission or distribution of electric energy or natural or manufactured gas, or for the furnishing of sewerage facilities or water.\n\t\t“Utility security<\/span>” means any note, draft, debenture, bond<\/span>, share of stock, certificate, collateral<\/span> trust certificate, preorganization certificate or subscription, transferable share, investment contract<\/span>, receiver’s or trustee’s certificate or any other instrument or interest commonly known as a security which is issued, assumed or guaranteed by any public utility<\/span> or any company<\/span> which would be a public utility<\/span> if the facilities owned or operated by it were within the Commonwealth, or any company<\/span> substantially engaged in the ownership of any of the aforesaid securities or in supplying management or advice to any of the aforesaid companies; or any certificate of deposit for, voting trust certificate for, certificate of interest or participation in, temporary or interim certificate for, receipt for, guaranty of, assumption of liability on, or warrant or right to subscribe to or purchase or acquire<\/span>, any of the aforesaid securities.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDEFINITIONS (\u00a7 56-88)\n\nIn this chapter the following terms shall have the following meanings:\n\t\t“Acquire” or “acquisition” includes any purchase or\nother acquisition, whether by payment, exchange, gift, conveyance, lease,\nlicense, merger, consolidation or otherwise.\n\t\t“Company” means a corporation, a partnership, an association, a\njoint-stock company, a business trust or an organized group of persons, whether\nincorporated or not; or any receiver, trustee or other liquidating agent of any\nof the foregoing in his capacity as such; but not a municipal corporation or\ncounty.\n\t\t“Dispose of” or “disposition” includes any sale or\nother disposition, whether by payment, exchange, gift, conveyance, lease,\nlicense, merger, consolidation or otherwise.\n\t\t“Public utility” means any company which owns or operates\nfacilities within the Commonwealth for the generation, transmission or\ndistribution of electric energy for sale; for the production, transmission or\ndistribution, otherwise than in enclosed portable containers, of natural or\nmanufactured gas for sale for heat, light or power, but excluding any company\ndescribed in subdivision (b)(8) or (b)(10) of \u00a7 56-265.1; or for the furnishing\nof sewerage facilities or water.\n\t\t“Utility assets” means the facilities in place of any public\nutility or municipality for the production, transmission or distribution of\nelectric energy or natural or manufactured gas, or for the furnishing of\nsewerage facilities or water.\n\t\t“Utility security” means any note, draft, debenture, bond, share\nof stock, certificate, collateral trust certificate, preorganization certificate\nor subscription, transferable share, investment contract, receiver’s or\ntrustee’s certificate or any other instrument or interest commonly known\nas a security which is issued, assumed or guaranteed by any public utility or\nany company which would be a public utility if the facilities owned or operated\nby it were within the Commonwealth, or any company substantially engaged in the\nownership of any of the aforesaid securities or in supplying management or\nadvice to any of the aforesaid companies; or any certificate of deposit for,\nvoting trust certificate for, certificate of interest or participation in,\ntemporary or interim certificate for, receipt for, guaranty of, assumption of\nliability on, or warrant or right to subscribe to or purchase or acquire, any of\nthe aforesaid securities.\n\nHISTORY: 1940, p. 425; Michie Code 1942, \u00a7 3774l; 1992, c. 376; 2000, cc. 528,\n543; 2009, c. 746.","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}}