reglab/housing_qa huggingface dataset:
VA Code § 6.2-1904.1 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 19 - Money Order Sellers and Money Transmitters|§ 6.2-1904.1. Investigation of applications

A. The Commissioner may make such investigations as he deems necessary to determine if the applicant has complied with all applicable provisions of law and regulations adopted thereunder.B. For the purpose of investigating individuals who are members, senior officers, directors, and principals of an applicant, such individuals shall comply with one or both of the following, as applicable:1. In the case of members, senior officers, directors, and principals who have resided in the United States at any time within the previous 10 years, such individuals shall consent to a national and state criminal history records check and submit to fingerprinting. Each member, senior officer, director, and principal shall pay for the cost of such fingerprinting and criminal records check. Such individuals shall cause their fingerprints, personal descriptive information, and records check fees to be submitted to either of the following, as prescribed by the Commissioner:a. The Bureau, which shall forward these items to the Central Criminal Records Exchange. The Central Criminal Records Exchange shall (i) conduct a search of its own criminal history records and forward such individuals' fingerprints and personal descriptive information to the Federal Bureau of Investigation for the purpose of obtaining national criminal history record information regarding such individuals and (ii) forward the results of the state and national records search to the Commissioner or his designee, who shall be an employee of the Commission; orb. The Registry, provided that it is capable of processing such criminal history records check.2. In the case of members, senior officers, directors, and principals who have resided outside of the United States at any time within the previous 10 years, such individuals shall cause an investigative background report to be submitted to the Commissioner. The report shall be prepared by an independent search firm that is acceptable to the Commissioner and be in the English language. Each member, senior officer, director, and principal shall pay for the cost of such report, and the report shall be sent directly by the search firm to the Commissioner or his designee, who shall be an employee of the Commission.C. If any member, senior officer, director, or principal of an applicant fails to cause his fingerprints, personal descriptive information, records check fees, or investigative background report to be submitted in accordance with subsection B, the application for licensure shall be denied.2014, c. 454; 2019, c. 634.
VA Code § 6.2-1906 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 19 - Money Order Sellers and Money Transmitters|§ 6.2-1906. Conditions prerequisite to issuance of license; net worth requirement

A. The Commission shall not issue a license to an applicant unless it determines that:1. The applicant will be able to and will perform its obligations to purchasers of money transmission services and purchasers, payees, and holders of money orders sold by it and its authorized delegates; and2. The financial responsibility, character, reputation, experience, and general fitness of the applicant and its members, senior officers, directors, and principals are such as to warrant belief that the business will be operated efficiently and fairly, in the public interest, and in accordance with applicable law and regulations.B. Each licensee shall at all times have a net worth of not less than $200,000, or a higher amount not to exceed $1 million as determined by the Commission, calculated in accordance with generally accepted accounting principles.1974, c. 578, § 6.1-374; 1990, c. 259; 1994, c. 889; 2001, c. 372; 2009, c. 346; 2010, c. 794; 2014, c. 454.
VA Code § 6.2-1906.1 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 19 - Money Order Sellers and Money Transmitters|§ 6.2-1906.1. Licenses; places of business; changes

A. Each license shall state the address at which the principal place of business is to be conducted and shall state fully the legal name of the licensee as well as any fictitious names by which the licensee is conducting business under this chapter. Licenses shall not be transferable or assignable, by operation of law or otherwise. No licensee shall use any names other than the legal name or fictitious names set forth on the license issued by the Commission.B. Every licensee shall notify the Commissioner, in writing, at least 30 days prior to relocating its principal place of business and confirm the change in writing within five days after such relocation.C. Every licensee shall within 10 days notify the Commissioner, in writing, of (i) any change to its legal name, (ii) any change to or additional fictitious name by which the licensee is conducting business under this chapter, and (iii) the name, address, and position of each new member, senior officer, director, or principal. At the direction of the Commissioner, any such individual shall be treated as a member, senior officer, director, or principal of an applicant for the purpose of being investigated pursuant to subsection B of § 6.2-1904.1. The licensee shall provide such other information with respect to the changes and persons identified in this subsection as the Commissioner may reasonably require.D. Every license shall remain in force until it expires or has been surrendered or revoked. The expiration, surrender, or revocation of a license shall not affect any preexisting legal right or obligation of the licensee.2014, c. 454.
VA Code § 6.2-1907 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 19 - Money Order Sellers and Money Transmitters|§ 6.2-1907. License revocation

A. The Commission may revoke a license issued under this chapter:1. If it reasonably determines that (i) a licensee is engaging in one or more unsafe or unsound practices, (ii) a licensee may be unable to perform its obligations, or (iii) a licensee has willfully failed without reasonable cause to pay or provide for the payment of any of its obligations; or2. Upon any of the following grounds:a. Any ground for denial of a license under this chapter;b. Any violation of the provisions of this chapter or regulations adopted by the Commission pursuant thereto, or a violation of any other law or regulation applicable to the conduct of the licensee's business;c. Conviction of a felony or misdemeanor involving fraud, misrepresentation, or deceit;d. Entry of a judgment against such licensee involving fraud, misrepresentation, or deceit;e. Entry of a federal or state administrative order against such licensee for violation of any law or any regulation applicable to the conduct of his business;f. Refusal to permit an investigation or examination by the Commission;g. Failure to pay any fee or assessment imposed by this chapter; orh. Failure to comply with any order of the Commission.B. For the purposes of this section, acts of any officer, director, member, partner, or principal shall be deemed acts of the licensee.1974, c. 578, § 6.1-374; 1990, c. 259; 1994, c. 889; 2001, c. 372; 2009, c. 346; 2010, c. 794; 2014, c. 454.
VA Code § 6.2-1908 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 19 - Money Order Sellers and Money Transmitters|§ 6.2-1908. Notice of proposed revocation

The Commission may not revoke a license issued under this chapter upon any of the grounds set forth in § 6.2-1907 until it has given the licensee 21 days' notice in writing of the reasons for the proposed revocation and has given the licensee an opportunity to introduce evidence and be heard. The notice shall be sent by certified mail to the principal place of business of such licensee and shall state with particularity the grounds for the contemplated action. Within 14 days of mailing the notice, the person or persons named therein may file with the clerk of the Commission a written request for a hearing. If a hearing is requested, the Commission shall not revoke the license except based upon findings made at such hearing.2009, c. 346, § 6.1-374.1; 2010, c. 794.
VA Code § 6.2-1909 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 19 - Money Order Sellers and Money Transmitters|§ 6.2-1909. Cease and desist orders

A. If the Commission determines that (i) any person has violated any provision of this chapter or any regulation adopted hereunder or (ii) a licensee is engaging in one or more unsafe or unsound practices, the Commission may, upon 21 days' notice in writing, order such person to cease and desist from such practices and to comply with the provisions of this chapter. The notice shall be sent by certified mail to the principal place of business of such person or other address authorized under § 12.1-19.1 and shall state the grounds for the contemplated action. Within 14 days of mailing the notice, the person or persons named therein may file with the clerk of the Commission a written request for a hearing. The Commission may enforce compliance with any such order issued under this section by imposition and collection of such fines and penalties as may be prescribed by law.B. When, in the opinion of the Commission, immediate action is required to protect the public interest, a cease and desist order may be issued immediately without prior hearing. In such cases, the Commission shall make a hearing available to the person on an expedited basis.C. If required to conserve the assets of a licensee or protect the public interest, the Commission may order a licensee and its authorized delegates to cease and desist from selling additional money orders or receiving additional funds for transmission.D. The Commission shall have jurisdiction to enter and enforce a cease and desist order against any person, regardless of whether such person is present in the Commonwealth, who directly or indirectly (i) sells money orders to citizens of the Commonwealth or (ii) obtains money or control over such citizens' funds for transmission.2009, c. 346, § 6.1-374.2; 2010, c. 794.
VA Code § 6.2-1910 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 19 - Money Order Sellers and Money Transmitters|§ 6.2-1910. Investigations; examinations; reporting violations

A. The Commission shall have authority to investigate and examine the affairs, business, premises, books, and records of all money order sellers and money transmitters and their authorized delegates. Except as provided herein, the Commission shall make an examination of each licensee at least once in every three-year period and shall adjust the surety bond or alternative security device as it may deem necessary in accordance with § 6.2-1904. The Commission may also examine any authorized delegate of a licensee as often as it is deemed to be in the public interest. Examinations under this section may be conducted in conjunction with examinations to be performed by representatives of agencies of the federal government or another state. The Commission, in lieu of an examination, may accept the examination report of the federal government or another state.B. Any person designated by the Commission to make investigations or examinations pursuant to this section shall have authority to (i) administer oaths; (ii) examine under oath in the course of such investigations or examinations, the principals, members, owners, officers, directors, partners, and employees of any person required to be licensed by this chapter or such person's authorized delegates; and (iii) compel the production of documents. The principals, members, owners, officers, directors, partners, and employees of any person being investigated or examined shall, upon demand of the person making such investigation or examination, afford full access to all premises, books, records, and information that the person making such investigation or examination deems necessary.C. The Commission shall report violations of the licensing requirements of § 6.2-1901 to the attorney for the Commonwealth of the city or county in which such violation occurs.1974, c. 578, § 6.1-375; 1976, c. 531; 1990, c. 259; 1994, c. 889; 2001, c. 372; 2009, c. 346; 2010, c. 794; 2014, c. 454.
VA Code § 6.2-1911 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 19 - Money Order Sellers and Money Transmitters|§ 6.2-1911. Conduct of business through authorized delegates of licensee

A. A licensee may conduct its business through or by means of such authorized delegates as the licensee may designate or appoint under a written agreement with such authorized delegates. The agreement between a licensee and an authorized delegate shall (i) require the authorized delegate to comply with the provisions of this chapter and all other applicable state and federal laws and regulations; (ii) require the authorized delegate to remit all sums owing to the licensee in accordance with the terms of the written agreement; (iii) require the authorized delegate to permit the Commission to investigate or examine its business pursuant to § 6.2-1910; and (iv) prohibit the authorized delegate from using a subdelegate, or from otherwise designating or appointing another person to sell money orders or engage in money transmission business on behalf of the licensee.B. A licensee shall conduct a due diligence review of all new authorized delegates. A licensee shall be responsible for implementing and maintaining a reasonable risk-based supervision program to monitor its authorized delegates.1974, c. 578, § 6.1-377; 1994, c. 889; 2001, c. 372; 2009, c. 346; 2010, c. 794.
VA Code § 6.2-1912 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 19 - Money Order Sellers and Money Transmitters|§ 6.2-1912. Liability of licensee for payment of money order; money order to bear name of licensee

A. A licensee shall be liable for the payment of all funds collected for transmission by the licensee or its authorized delegates and all money orders which it sells, in whatever form and whether directly or through an authorized delegate, as the maker or drawer thereof according to the negotiable instrument laws of the Commonwealth. A licensee who sells a money order, whether directly or through an authorized delegate, upon which he is not designated as maker or drawer shall nevertheless have the same liabilities with respect thereto as if he had signed the money order as the maker or drawer thereof.B. Every money order sold by a licensee, whether directly or through an authorized delegate, shall bear the name of the licensee clearly imprinted thereon as it appears on its license.1974, c. 578, § 6.1-378; 2009, c. 346; 2010, c. 794.
VA Code § 6.2-1913 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 19 - Money Order Sellers and Money Transmitters|§ 6.2-1913. Regulations

The Commission may adopt such regulations as it deems appropriate to effect the purposes of this chapter. Before adopting any such regulation, the Commission shall give reasonable notice of its content and shall afford interested parties an opportunity to be heard, in accordance with the Commission's Rules.1990, c. 259, § 6.1-378.1; 1994, c. 889; 2010, c. 794.
VA Code § 6.2-1915 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 19 - Money Order Sellers and Money Transmitters|§ 6.2-1915. Sale or issuance of bearer money orders; prohibition

A. No authorized delegate of a licensee shall sell a money order with a face amount of $750 or more that does not designate a specific payee.B. This section applies only to paper money orders.C. This section does not apply to (i) travelers checks, (ii) electronic instruments, (iii) stored value products or other similar instruments for the transmission or payment of money, or (iv) money orders sold or issued by insured financial institutions.D. Licensees shall inform their authorized delegates of the obligations imposed by this section.1999, c. 355, § 6.1-378.3; 2009, c. 346; 2010, c. 794.
VA Code § 6.2-1916 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 19 - Money Order Sellers and Money Transmitters|§ 6.2-1916. Retention of books, accounts, and records

A. Every licensee shall maintain in its principal place of business such books, accounts, and records as the Commission may reasonably require in order to determine whether such licensee is complying with the provisions of this chapter and other laws applicable to the conduct of its licensed business. Such books, accounts, and records shall be maintained apart and separate from any other business in which the licensee is involved.B. Each licensee shall retain the following records for at least three years:1. A record of each money transmission transaction and money order sold;2. A general ledger posted at least monthly containing all asset, liability, capital, income, and expense accounts;3. Bank statements and bank reconciliation records;4. Records of outstanding money orders and money transmission transactions;5. Records of each money order and money transmission transaction paid or completed within the three-year period; and6. A list of the names, addresses, and telephone numbers of all of the licensee's authorized delegates.C. Each licensee shall maintain policies and procedures sufficient for it to comply with this chapter and all other laws and regulations applicable to the conduct of its licensed business. A licensee shall furnish copies of its policies and procedures, as amended, to all of its authorized delegates.2009, c. 346, § 6.1-378.5; 2010, c. 794; 2014, c. 454.
VA Code § 6.2-1917 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 19 - Money Order Sellers and Money Transmitters|§ 6.2-1917. Other reporting requirements

A. A licensee or other person shall file a report with the Commissioner within 15 days after the licensee or other person becomes aware of any material changes in information previously provided in an application filed under § 6.2-1903 or 6.2-1914. This requirement shall be applicable only to material changes that occur within one year after the date the licensee begins business or the acquisition is consummated.B. A licensee shall file with the Commissioner no later than 45 days after the end of each fiscal quarter its quarterly financial statements along with a current list of all authorized delegates and locations where the licensee or an authorized delegate of the licensee sells money orders or receives money for transmission. The licensee shall state the name, street address, and telephone number of each location and authorized delegate.C. A licensee shall file a report with the Commissioner within one business day after the licensee becomes aware of the occurrence of any of the following events:1. The filing of a petition by or against the licensee for bankruptcy or reorganization;2. The filing of a petition by or against the licensee for receivership, the commencement of any other judicial or administrative proceeding for its dissolution or reorganization, or the making of a general assignment for the benefit of its creditors;3. The commencement of administrative or regulatory proceedings against the licensee by any governmental authority;4. The cancellation or other impairment of the licensee's bond or other security;5. Any felony indictment of the licensee or any of its members, partners, directors, officers, principals, or authorized delegates;6. Any felony conviction of the licensee or any of its members, partners, directors, officers, principals, or authorized delegates; or7. Such other events as the Commission may prescribe by regulation.D. Any reports or filings required by this section may be submitted to the Commissioner through the Registry, provided that the Registry is capable of receiving such reports or filings.2009, c. 346, § 6.1-378.6; 2010, c. 794; 2014, c. 454; 2019, c. 634.
VA Code § 6.2-1918 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 19 - Money Order Sellers and Money Transmitters|§ 6.2-1918. Maintenance of permissible investments

A. A licensee shall maintain at all times permissible investments that have a market value computed in accordance with generally accepted accounting principles of not less than the aggregate dollar amount of all of its (i) outstanding money orders from all states and (ii) outstanding money transmission transactions from all states. For purposes of this subsection, a licensee may calculate the aggregate dollar amount of its outstanding stored value products in accordance with generally accepted accounting principles.B. The Commission, with respect to any licensees, may limit the extent to which a type of investment within a class of permissible investments may be considered a permissible investment, except for money and certificates of deposit issued by a bank. The Commission may prescribe by regulation other types of investments that the Commission determines to have a safety substantially equivalent to other permissible investments.C. Permissible investments shall be deemed to be held in trust for the benefit of the purchasers and holders of the licensee's outstanding money orders and money transmission services in the event of bankruptcy or receivership of the licensee.2009, c. 346, § 6.1-378.7; 2010, c. 794; 2017, c. 654.
VA Code § 6.2-1920 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 19 - Money Order Sellers and Money Transmitters|§ 6.2-1920. Civil penalties

In addition to the authority conferred under §§ 6.2-1907 and 6.2-1909, the Commission may impose a civil penalty not exceeding $2,500 upon any person licensed or required to be licensed under this chapter who the Commission determines has violated any of the provisions of this chapter or any other law or regulation applicable to the conduct of the person's business. For the purposes of this section, each separate violation shall be subject to the civil penalty herein prescribed. In the case of a violation of § 6.2-1901, each money order sale or money transmission transaction shall constitute a separate violation.2001, c. 372, § 6.1-378.4; 2009, c. 346; 2010, c. 794.
VA Code § 6.2-1921 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 19 - Money Order Sellers and Money Transmitters|§ 6.2-1921. Criminal penalty

Any person required by this chapter to have a license who sells money orders or engages in the business of money transmission without first being licensed as required by § 6.2-1901 is guilty of a Class 1 misdemeanor.1974, c. 578, § 6.1-375; 1976, c. 531; 1990, c. 259; 1994, c. 889; 2001, c. 372; 2009, c. 346, 2010, c. 794.