Va. Code » Title 56. Public Service Companies » Chapter 5. Utility Transfers Act
Virginia Code

Va. Code Ann. § 56-88 (2026)

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✓ current as of May 2026
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In this chapter the following terms shall have the following meanings:

"Acquire" or "acquisition" includes any purchase or other acquisition, whether by payment, exchange, gift, conveyance, lease, license, merger, consolidation or otherwise.

"Company" means a corporation, a partnership, an association, a joint-stock company, a business trust or an organized group of persons, whether incorporated or not; or any receiver, trustee or other liquidating agent of any of the foregoing in his capacity as such; but not a municipal corporation or county.

"Dispose of" or "disposition" includes any sale or other disposition, whether by payment, exchange, gift, conveyance, lease, license, merger, consolidation or otherwise.

"Public utility" means any company which owns or operates facilities within the Commonwealth for the generation, transmission or distribution of electric energy for sale; for the production, transmission or distribution, otherwise than in enclosed portable containers, of natural or manufactured gas for sale for heat, light or power, but excluding any company described in subdivision (b)(8) or (b)(10) of § 56-265.1; or for the furnishing of sewerage facilities or water.

"Utility assets" means the facilities in place of any public utility or municipality for the production, transmission or distribution of electric energy or natural or manufactured gas, or for the furnishing of sewerage facilities or water.

"Utility security" means any note, draft, debenture, bond, share of stock, certificate, collateral trust certificate, preorganization certificate or subscription, transferable share, investment contract, receiver's or trustee's certificate or any other instrument or interest commonly known as a security which is issued, assumed or guaranteed by any public utility or any company which would be a public utility if the facilities owned or operated by it were within the Commonwealth, or any company substantially engaged in the ownership of any of the aforesaid securities or in supplying management or advice to any of the aforesaid companies; or any certificate of deposit for, voting trust certificate for, certificate of interest or participation in, temporary or interim certificate for, receipt for, guaranty of, assumption of liability on, or warrant or right to subscribe to or purchase or acquire, any of the aforesaid securities.

1940, p. 425; Michie Code 1942, § 3774l; 1992, c. 376; 2000, cc. 528, 543; 2009, c. 746.

Notes of Decisions
Cited in 2 cases, 1984–2009 · leading case: Tripplett v. Kessinger, 14 Va. Cir. 512 (Frederick Cir. Ct. 1984).
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Tripplett v. Kessinger, 14 Va. Cir. 512 (Frederick Cir. Ct. 1984). · cites it 2× “Other possibilities are appraisal for the purpose of probate or administration tax under Section 56-88 and appraisal of the estate under Code Section 64.”
MCImetro Access Transmission Servs. of Virginia, Inc. v. Christie, 310 F. App'x 601 (4th Cir. 2009). “The VSCC considered and ultimately approved the merger pursuant to its authority under the Transfers Act, Va.Code § 56-88. 1 However, its order required that Verizon Access “continue to offer to [current and future] wholesale customers in Virginia its available intrastate and…”
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