                                 CODE OF VIRGINIA

DEFINITIONS (§ 64.2-1600)

For the purposes of this chapter, unless the context requires otherwise:
		&#8220;Agent&#8221; means a person granted authority to act for a principal
under a power of attorney, whether denominated an agent, attorney-in-fact, or
otherwise. The term includes an original agent, coagent, successor agent, and a
person to which an agent&#8217;s authority is delegated.
		&#8220;Durable,&#8221; with respect to a power of attorney, means not
terminated by the principal&#8217;s incapacity.
		&#8220;Electronic&#8221; means relating to technology having electrical,
digital, magnetic, wireless, optical, electromagnetic, or similar capabilities.
		&#8220;Good faith&#8221; means honesty in fact.
		&#8220;Incapacity&#8221; means inability of an individual to manage property
or business affairs because the individual:

1. Has an impairment in the ability to receive and evaluate information or make
or communicate decisions even with the use of technological assistance; or

2. Is missing or outside the United States and unable to return.
			&#8220;Person&#8221; means an individual, corporation, business trust,
estate, trust, partnership, limited liability company, association, joint
venture, public corporation, government or governmental subdivision, agency, or
instrumentality, or any other legal or commercial entity.
			&#8220;Power of attorney&#8221; means a writing or other record that grants
authority to an agent to act in the place of the principal, whether or not the
term power of attorney is used.
			&#8220;Presently exercisable general power of appointment,&#8221; with
respect to property or a property interest subject to a power of appointment,
means power exercisable at the time in question to vest absolute ownership in
the principal individually, the principal&#8217;s estate, the principal&#8217;s
creditors, or the creditors of the principal&#8217;s estate. The term includes a
power of appointment not exercisable until the occurrence of a specified event,
the satisfaction of an ascertainable standard, or the passage of a specified
period only after the occurrence of the specified event, the satisfaction of the
ascertainable standard, or the passage of the specified period. The term does
not include a power exercisable in a fiduciary capacity or only by will.
			&#8220;Principal&#8221; means an individual who grants authority to an agent
in a power of attorney.
			&#8220;Property&#8221; means anything that may be the subject of ownership,
whether real or personal, or legal or equitable, or any interest or right
therein.
			&#8220;Record&#8221; means information that is inscribed on a tangible medium
or that is stored in an electronic or other medium and is retrievable in
perceivable form.
			&#8220;Sign&#8221; means, with present intent to authenticate or adopt a
record: (i) to execute or adopt a tangible symbol or (ii) to attach to or
logically associate with the record an electronic sound, symbol, or process.
			&#8220;State&#8221; means a state of the United States, the District of
Columbia, Puerto Rico, the United States Virgin Islands, or any territory or
insular possession subject to the jurisdiction of the United States.
			&#8220;Stocks and bonds&#8221; means stocks, bonds, mutual funds, and all
other types of securities and financial instruments, whether held directly,
indirectly, or in any other manner. The term does not include commodity futures
contracts and call or put options on stocks or stock indexes.

HISTORY: 2010, cc. 455, 632, § 26-73; 2012, c. 614.