58.1-1501 - Definitions.
§ 58.1-1501. Definitions.
As used in this chapter, unless the context clearly shows otherwise, the termor phrase:
"Aircraft" means any contrivance used or designed for untethered navigationor flight in the air by one or more persons at an altitude greater thantwenty-four inches above the ground. Such term shall not include parachutes.
"Dealer" means any person owning five or more aircraft during the calendaryear who the Commissioner finds is in the regular business of sellingaircraft.
"Gross receipts" means the charges made or voluntary contributions receivedfor the hourly rental and maintenance of an aircraft, all other charges forthe use of an aircraft and, unless separately stated on the invoice, allcharges for services of pilots or instructors in such aircraft. The termshall also include any amount by which the price estimated under § 58.1-1503exceeds the charge actually made.
"Retail sale" means a sale to a consumer or to any person for any purposeother than for resale. The term shall include any transaction theCommissioner, upon investigation, finds to be in lieu of a sale. Sales forresale must be made in strict compliance with any rules and regulationspromulgated pursuant to this chapter.
"Sale" means any transfer of ownership or possession of an aircraft byexchange or barter, lease or rental, conditional or otherwise, in any manneror by any means whatsoever. The term shall also include a transaction wherebypossession is transferred but title is retained by the seller as security.The term shall not include a transfer of ownership or possession (i) made tosecure payment of an obligation, (ii) incidental to repossession under a lienand under which ownership is transferred to the repossessor, his nominee or atrustee, pending ultimate disposition or sale of the collateral, (iii) aspart 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 theaircraft and the beneficiaries of the trust are the same persons, regardlessof whether other beneficiaries may also be named in the trust instrument, ortransferred by trustees of such a trust to beneficiaries of the trustfollowing the death of the grantor, when no consideration has passed betweenthe grantor and the beneficiaries in either case.
"Sale price" means the total price paid for an aircraft and all attachmentsthereon and accessories thereto, exclusive of any federal manufacturer'sexcise tax, without any allowance or deduction for trade-ins or unpaid liensor encumbrances.
"Scheduled air service" means any scheduled service provided by an aircarrier or foreign air carrier operating pursuant to authority issued by theU.S. Department of Transportation and under Federal Aviation Regulations,Parts 121, 129 or 135.
(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.)