Virginia § 13.1-982 - Definitions
Full text of Virginia Code of Virginia § 13.1-982 — Definitions, with citation guidance and answers to common questions.
§ 13.1-982. Definitions
As used in this chapter, unless a different meaning is required by the context, the following words and phrases shall have the following meanings:
"Board of directors." -- The board of directors of a corporation created under this chapter.
"Commission." -- The State Corporation Commission of Virginia.
"Corporation." -- A Virginia industrial development corporation created under the provisions of this chapter.
"Financial institution." -- Any bank, trust company, savings institution, industrial loan association or insurance company.
"Loan limit." -- For any member, the maximum amount permitted to be outstanding at one time on loans made by such member to a corporation as determined under the provisions of this chapter.
"Member." -- Any financial institution which shall undertake to lend money to a corporation created under this chapter, upon its call and in accordance with the provisions of this chapter.
Code 1950, § 13.1-141; 1960, c. 80; 1985, c. 522; 1996, c. 77.
Frequently Asked Questions About Virginia § 13.1-982
What does Code of Virginia § 13.1-982 cover?
Section 13.1-982 ("Definitions") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 13.1-982?
A common citation format is "Code of Virginia § 13.1-982" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 13.1-982 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.