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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>79652</law_id><section_number>56-88</section_number><catch_line>Definitions</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>56-265.13:7</reference><reference>56-54.5</reference><reference>56-585.1:11</reference><reference>56-590</reference><reference>56-90.2</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="56">Public Service Companies</unit><unit label="chapter" level="2" order_by="1" identifier="5">Utility Transfers Act</unit></structure><text>
						<section><p>In this chapter the following terms shall have the following meanings:
		&#x201C;<span class="dictionary">Acquire</span>&#x201D; or &#x201C;<span class="dictionary">acquisition</span>&#x201D; includes any purchase or other <span class="dictionary">acquisition</span>, whether by payment, exchange, gift, conveyance, lease, license, merger, <span class="dictionary">consolidation</span> or otherwise.
		&#x201C;<span class="dictionary">Company</span>&#x201D; means a corporation, a partnership, an association, a joint-stock <span class="dictionary">company</span>, a business trust or an organized group of <span class="dictionary">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 <span class="dictionary">municipal corporation</span> or county.
		&#x201C;<span class="dictionary">Dispose of</span>&#x201D; or &#x201C;<span class="dictionary">disposition</span>&#x201D; includes any sale or other <span class="dictionary">disposition</span>, whether by payment, exchange, gift, conveyance, lease, license, merger, <span class="dictionary">consolidation</span> or otherwise.
		&#x201C;<span class="dictionary">Public utility</span>&#x201D; means any <span class="dictionary">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 <span class="dictionary">company</span> described in subdivision (b)(8) or (b)(10) of &#xA7;&#xA0;<a class="law" title="Definitions" href="/56-265.1/">56-265.1</a>; or for the furnishing of sewerage facilities or water.
		&#x201C;<span class="dictionary">Utility assets</span>&#x201D; means the facilities in place of any <span class="dictionary">public utility</span> or <span class="dictionary">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.
		&#x201C;<span class="dictionary">Utility security</span>&#x201D; means any note, draft, debenture, <span class="dictionary">bond</span>, share of stock, certificate, <span class="dictionary">collateral</span> trust certificate, preorganization certificate or subscription, transferable share, investment <span class="dictionary">contract</span>, receiver&#x2019;s or trustee&#x2019;s certificate or any other instrument or interest commonly known as a security which is issued, assumed or guaranteed by any <span class="dictionary">public utility</span> or any <span class="dictionary">company</span> which would be a <span class="dictionary">public utility</span> if the facilities owned or operated by it were within the Commonwealth, or any <span class="dictionary">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 <span class="dictionary">acquire</span>, any of the aforesaid securities.</p></section></text><history>1940, p. 425; Michie Code 1942, &#xA7; 3774l; 1992, c. 376; 2000, cc. 528, 543; 2009, c. 746.</history><metadata></metadata></law>
