23 VAC Title 23 Agency 10 — Virginia Tax Regulations
23VAC10-500-380
Financial services; definitions
Any person rendering a service for compensation in the form of a credit agency, an investment company, a broker or dealer in securities and commodities, or a security or commodity exchange is providing a financial service, unless such service is specifically provided for under another section of the BPOL Regulations (23VAC10-500-10 et seq.). For purposes of this classification, the term:
# 1.
"Broker" means an agent of a buyer or a seller who buys or sells stocks, bonds, commodities, or services, usually on a commission basis.
# 2.
"Commodity" means staples such as wool, cotton, etc. that are traded on a commodity exchange and on which there is trading in futures.
# 3.
"Dealer" means any person engaged in the business of buying and selling securities for his own account, but does not include a bank, or any person insofar as he buys or sells securities for his own account, either individually or in some fiduciary capacity, but not as part of a regular business.
# 4.
"Security" shall have the same meaning as in the Securities Act (§ 13.1-501 et seq. of the Code of Virginia) or in similar laws of the United States regulating the sale of securities.
Source: view the official text
Nearby sections (25 sections)
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