                                 CODE OF VIRGINIA

DEFINITIONS (§ 58.1-1501)

As used in this chapter, unless the context clearly shows otherwise, the term or
phrase:
		&#8220;Aircraft&#8221; means any contrivance used or designed for untethered
navigation or flight in the air by one or more persons at an altitude greater
than twenty-four inches above the ground. Such term shall not include
parachutes.
		&#8220;Dealer&#8221; means any person owning five or more aircraft during the
calendar year who the Commissioner finds is in the regular business of selling
aircraft.
		&#8220;Gross receipts&#8221; means the charges made or voluntary contributions
received for the hourly rental and maintenance of an aircraft, all other charges
for the use of an aircraft and, unless separately stated on the invoice, all
charges for services of pilots or instructors in such aircraft. The term shall
also include any amount by which the price estimated under § 58.1-1503 exceeds
the charge actually made.
		&#8220;Retail sale&#8221; means a sale to a consumer or to any person for any
purpose other than for resale. The term shall include any transaction the
Commissioner, upon investigation, finds to be in lieu of a sale. Sales for
resale must be made in strict compliance with any rules and regulations
promulgated pursuant to this chapter.
		&#8220;Sale&#8221; means any transfer of ownership or possession of an
aircraft by exchange or barter, lease or rental, conditional or otherwise, in
any manner or by any means whatsoever. The term shall also include a transaction
whereby possession is transferred but title is retained by the seller as
security. The term shall not include a transfer of ownership or possession (i)
made to secure payment of an obligation, (ii) incidental to repossession under a
lien and under which ownership is transferred to the repossessor, his nominee or
a trustee, pending ultimate disposition or sale of the collateral, (iii) as part
of the sale of all or substantially all the assets of any business, or (iv) to
trustees of a revocable inter vivos trust, when the owners of the aircraft and
the beneficiaries of the trust are the same persons, regardless of whether other
beneficiaries may also be named in the trust instrument, or transferred by
trustees of such a trust to beneficiaries of the trust following the death of
the grantor, when no consideration has passed between the grantor and the
beneficiaries in either case.
		&#8220;Sale price&#8221; means the total price paid for an aircraft and all
attachments thereon and accessories thereto, exclusive of any federal
manufacturer&#8217;s excise tax, without any allowance or deduction for
trade-ins or unpaid liens or encumbrances.
		&#8220;Scheduled air service&#8221; means any scheduled service provided by an
air carrier or foreign air carrier operating pursuant to authority issued by the
U.S. Department of Transportation and under Federal Aviation Regulations, Parts
121, 129 or 135.

HISTORY: Code 1950, §§ 58-685.28, 58-685.30; 1974, c. 431; 1975, c. 424; 1977,
c. 396; 1984, c. 675; 1995, c. 204; 2000, c. 602.