                                 CODE OF VIRGINIA

DEFINITIONS (§ 6.2-1074)

As used in this article, unless the context requires a different meaning:
		&#8220;Degrees of kinship&#8221; means, with respect to two persons, (i)
degrees of lineal kinship computed by counting one degree for each person in the
line of ascent or descent, exclusive of the person from whom the computing
begins and (ii) degrees of collateral kinship computed by commencing with one of
the persons and ascending from that person to a common ancestor, descending from
that ancestor to the other person, and counting one degree for each person in
the line of ascent and in the line of descent, exclusive of the person from whom
the computation begins, the total to represent the degree of such kinship.
		&#8220;Designated relative&#8221; means the individual to or through whom the
family members are related.
		&#8220;Family&#8221; means a designated relative and family members of that
designated relative.
		&#8220;Family member&#8221; means the designated relative and:

1. Any individual within (i) the fifth degree of lineal kinship to the
designated relative or (ii) the ninth degree of collateral kinship to the
designated relative, for which purposes only a legally adopted individual shall
be treated as a natural child of the adoptive parents;

2. The present or past spouse of the designated relative and of any individual
qualifying as a family member under subdivision 1;

3. A trust established (i) by a family member or (ii) exclusively for the
benefit of one or more family members;

4. A stock corporation, limited partnership or limited liability company, all of
the capital stock, partnership interests, membership interests, or other equity
interests of which are owned by one or more family members, their spouses
qualifying under subdivision 2, their trusts qualifying under subdivision 3, or
their estates qualifying under subdivision 5;

5. The estate of a family member; or

6. A charitable foundation or other charitable entity created by a family
member.
			&#8220;Fiduciary&#8221; means executor, administrator, conservator, guardian,
committee, or trustee.
			&#8220;Operating plan&#8221; means a plan that establishes the policies and
procedures a private trust company will have in effect when the institution
opens for business and thereafter (i) to ensure that trust accounts are handled
in accordance with recognized standards of fiduciary conduct and (ii) to assure
compliance with applicable laws and regulations.
			&#8220;Private trust business&#8221; means acting as or performing the duties
of a fiduciary in the regular course of its business for family members.
			&#8220;Private trust company&#8221; means a corporation or limited liability
company that is organized to engage in private trust business under this article
with one or more family members and that does not transact business with the
general public.
			&#8220;Tax&#8221; includes, but is not limited to, federal, state or local
income, gift, estate, generation-skipping transfer, or inheritance tax.

HISTORY: 2003, c. 910, §§ 6.1-32.30:1; 6.1-32.30:7; 2010, c. 794.