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1996 Ordinances
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1996 Ordinances
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Last modified
2/6/2009 3:39:59 PM
Creation date
6/11/2001 5:53:02 PM
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Ord/Resolutions
Year
1996
Ord/Resolutions - Type
Ordinances
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(i) At least eighty percenn of 5he total combined voting <br />power of all classes of stock entitled to vone or at least <br />eighty percent of the total value of shares of all classes of <br />the stock of each corporation, and <br /> <br /> (ii) More than fifty percent of the total combined voting <br />power of all classes of stock entitled to vote or more than <br />fifty percent of the total value of shares of all classes of <br />stock of each corporation, taking into accounn the stock <br />ownership of each such person only to the extent such stock <br />ownership is identical with respecn to each such corporatzon. <br /> <br /> When one or more of the includable corporations, including <br />the common paten5 corporation is a nonstock corporation, the <br />term "stock" as used in this subdivision shall refer to the <br />nonstock corporatzon membership or membership voting rights, as <br />ms appropriate to the context. <br /> <br /> "Base year" means nhe calendar year preceding the license <br />year, exce~n for contracnors subjecn no the provisions of <br />section 58.1-3715 of nhe Code of Vircmnma. <br /> <br /> "Financial services" means nhe buying, selling, handling, <br />managing, investing, and providing of advice regarding money, <br />credit, securities and other investments and shall include the <br />service for compensation by a credit agency, an investment <br />company, a broker or dealer in securities and commodities or a <br />security or commodity exchange, unless such servmce is <br />ctherwise provided for mn this ordinance. <br /> <br /> "Security" for purposes of this ordinance shall have the <br />same meanmng as in nhe Securities Act §13.1-501 en seq.) of <br />the Code of Virgznia, or in similar laws of the United States <br />regulating the sale of securities. <br /> <br /> Those engaged in rendering financial services include, but <br />without limitation, the following: <br /> <br />Buying installment receivables <br />Chattel mortgage financing <br />Consumer financing <br />Credit card services <br />Credit Unions <br />Factors <br />Financing accounns receivable <br />Industrial loan companies <br />Installment financing <br />Inventory financing <br /> <br />2 <br /> <br /> <br />
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