2006 Code of Virginia § 8.01-227.2 - Definitions

8.01-227.2. Definitions.

For purposes of this article:

"Person" means the same as defined in 1-230.

"Regulated entity" means any insured financial institution or publicutility.

"Third party" means, with respect to a person against whom a claim fordamages is made based upon a Year 2000 problem, any (i) person having nocontractual or affiliate relationship with the person against whom a claim ismade, (ii) state or federal governmental or quasi-governmental agency orentity, or (iii) regulated entity other than the person against whom a claimis made.

"Year 2000 problem" means any computing, physical, enterprise, ordistribution system complication that has occurred or may occur as a resultof the change of the year from 1999 to 2000 in any person's technologysystem, including, without limitation, computer hardware, programs, software,or systems; embedded chip calculations or embedded systems; firmware;microprocessors; or management systems, business processes, or computingapplications that govern, utilize, drive, or depend on the Year 2000processing capabilities of the person's technology systems. Suchcomplications may include the common computer programming practice of using atwo-digit field to represent a year, resulting in erroneous datecalculations; an ambiguous interpretation of the term or field "00"; thefailure to recognize 2000 as a leap year; algorithms that use "99" or"00" to activate another function; or the use of any other applications,software, or hardware that are date-sensitive.

"Year 2000 processing" means the processing, calculating, comparing,sequencing, displaying, storing, transmitting, or receiving of date ordate-sensitive data from, into, or between the twentieth and twenty-firstcenturies, during the years 1999 and 2000, and leap year calculations.

(1999, c. 954; 2005, c. 839.)