                                 CODE OF VIRGINIA

DEFINITIONS (§ 6.2-1013)

As used in this article, unless the context requires a different meaning:
		&#8220;Agent&#8221; has the meaning assigned to it in § 13.1-501 of the
Virginia Securities Act (§ 13.1-501 et seq.).
		&#8220;Broker-dealer&#8221; has the meaning assigned to it in § 13.1-501 of
the Virginia Securities Act.
		&#8220;Control&#8221; means (i) ownership by a person of 25 percent or more of
the voting stock of a trust company; (ii) control as defined in the Bank Holding
Company Act of 1956 (12 U.S.C. § 1841 et seq.); or (iii) as determined by the
Commission, the exercise of a controlling influence over the management and
policies of a trust company.
		&#8220;Fiduciary&#8221; means executor, administrator, conservator, guardian
of a minor, committee, or trustee.
		&#8220;Investment advisor&#8221; has the meaning assigned to it in § 13.1-501
of the Virginia Securities Act.
		&#8220;Investment advisor representative&#8221; has the meaning assigned to it
in § 13.1-501 of the Virginia Securities Act.
		&#8220;Investment company&#8221; has the meaning assigned to it in the
Investment Company Act of 1940 (15 U.S.C. § 80a-1 et seq.).
		&#8220;Operating plan&#8221; means a plan submitted by an applicant for a
certificate of authority, which plan establishes the policies and procedures a
trust company will have in effect when the institution opens for business and
thereafter (i) to avoid or resolve conflicts of interests, (ii) to prevent
improper influences from affecting the actions of the trustee, (iii) to ensure
that trust accounts are handled in accordance with recognized standards of
fiduciary conduct, and (iv) to assure compliance with applicable laws and
regulations.
		&#8220;Principal&#8221; means any person who, directly or indirectly, owns or
controls (i) 10 percent or more of the outstanding stock of a stock corporation
or (ii) a 10 percent or greater interest in a nonstock corporation or a limited
liability company.

HISTORY: 1993, c. 432, § 6.1-32.11; 1994, c. 524; 1995, c. 140; 1997, c. 801;
2004, c. 781; 2010, c. 794.