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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>70018</law_id><section_number>32.1-354</section_number><catch_line>Definitions</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="32.1">Health</unit><unit label="chapter" level="2" order_by="1" identifier="14">Virginia Foundation for Healthy Youth</unit></structure><text>
						<section><p>As used in this chapter, unless the context clearly indicates otherwise:
		&#x201C;<span class="dictionary">Agreement</span>&#x201D; means the <span class="dictionary">agreement</span> or <span class="dictionary">agreements</span> between the Commonwealth, as seller of the <span class="dictionary">Tobacco Assets</span>, and the <span class="dictionary">Corporation</span>, as purchaser of the <span class="dictionary">Tobacco Assets</span>. The sale by the Commonwealth of the <span class="dictionary">Tobacco Assets</span> pursuant to any such <span class="dictionary">agreement</span> shall be a true sale and not a borrowing.
		&#x201C;<span class="dictionary">Board</span>&#x201D; means the <span class="dictionary">Board</span> of Trustees of the Foundation appointed pursuant to &#xA7;&#xA0;<a class="law" title="Board of Trustees; appointment; officers; quorum; executive committee; compensation and expenses" href="/32.1-357/">32.1-357</a>.
		&#x201C;<span class="dictionary">Corporation</span>&#x201D; means the Tobacco <span class="dictionary">Settlement</span> Financing <span class="dictionary">Corporation</span> as created under state <span class="dictionary">law</span>.
		&#x201C;<span class="dictionary">Director</span>&#x201D; means the <span class="dictionary">director</span> of the Foundation appointed pursuant to &#xA7;&#xA0;<a class="law" title="Appointment of director; counsel to the Board and Foundation" href="/32.1-358/">32.1-358</a>.
		&#x201C;<span class="dictionary">Endowment</span>&#x201D; means the Virginia Tobacco <span class="dictionary">Settlement</span> Foundation <span class="dictionary">Endowment</span> established pursuant to &#xA7;&#xA0;<a class="law" title="Virginia Foundation for Healthy Youth Endowment" href="/32.1-361.1/">32.1-361.1</a>.
		&#x201C;Foundation&#x201D; means the Virginia Foundation for Healthy Youth, created pursuant to &#xA7;&#xA0;<a class="law" title="Virginia Foundation for Healthy Youth created; purposes" href="/32.1-355/">32.1-355</a>.
		&#x201C;<span class="dictionary">Foundation Allocation</span>&#x201D; means 10 percent of the annual amount received under the Master <span class="dictionary">Settlement</span> <span class="dictionary">Agreement</span> by the Commonwealth, or that would have been received but for the sale of such allocation pursuant to an <span class="dictionary">agreement</span>, between the starting and ending dates specified in the <span class="dictionary">agreement</span>.
		&#x201C;<span class="dictionary">Fund</span>&#x201D; means the Virginia Tobacco <span class="dictionary">Settlement</span> <span class="dictionary">Fund</span> established pursuant to &#xA7;&#xA0;<a class="law" title="Virginia Tobacco Settlement Fund" href="/32.1-360/">32.1-360</a>.
		&#x201C;<span class="dictionary">Period of sale</span>&#x201D; means the time during which a purchase under an <span class="dictionary">agreement</span> is entitled to receive the <span class="dictionary">Foundation Allocation</span>.
		&#x201C;<span class="dictionary">Tobacco Assets</span>&#x201D; means all right, title, and interest in and to the portion of the <span class="dictionary">Foundation Allocation</span> that may be sold to the <span class="dictionary">Corporation</span> from time to time.</p></section></text><history>1999, cc. 880, 962; 2007, c. 345; 2009, cc. 424, 554.</history><metadata></metadata></law>
