reglab/housing_qa huggingface dataset:
VA Code § 6.2-1714 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 17 - Mortgage Loan Originators|§ 6.2-1714. Annual fees

A. In order to defray the costs of his examination, supervision, and regulation, every licensee shall pay an annual license renewal fee. The fee shall be $100 unless another amount is prescribed by the Commission. The renewal fee shall be paid by the licensee to the State Treasurer or through the Registry, as determined by the Commission, on or before the end of each license year.B. When it becomes necessary to examine or investigate the books and records of an individual required to be licensed under this chapter at a location outside the Commonwealth, the individual shall be liable for and shall pay to the Commission within 30 days of the presentation of an itemized statement, the actual travel and reasonable living expenses incurred on account of his examination, supervision, and regulation, or shall pay a reasonable per diem rate approved by the Commission. Any sums due pursuant to this subsection shall be in addition to the annual fee prescribed in subsection A.C. If an individual is an employee or exclusive agent of a person licensed under Chapter 16 (§ 6.2-1600 et seq.), the expenses referred to in subsection B shall be paid by the licensed mortgage lender or mortgage broker.2009, cc. 273, 453, § 6.1-431.15; 2010, c. 794.
VA Code § 6.2-1715 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 17 - Mortgage Loan Originators|§ 6.2-1715. Advertising; use of a unique identifier

A. No individual required to be licensed under this chapter shall use or cause to be published any advertisement that:1. Contains any false, misleading, or deceptive statement or representation; or2. Except as otherwise provided by the Commission, identifies a licensee by any name other than the name set forth on the license issued by the Commission.B. No licensee shall use the unique identifier obtained from the Registry for any purpose other than the purposes of the Act and this chapter.2009, cc. 273, 453, § 6.1-431.16; 2010, c. 794; 2012, cc. 52, 187.
VA Code § 6.2-1716 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 17 - Mortgage Loan Originators|§ 6.2-1716. Suspension or revocation of license

The Commission may suspend or revoke any license issued under this chapter based upon:1. Any ground sufficient for denial of the issuance of a license under this chapter;2. 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 licensed activities;3. Conviction of a felony or misdemeanor involving fraud, misrepresentation, or deceit;4. Entry of a judgment against a licensee involving fraud, misrepresentation, or deceit;5. Entry of a federal or state administrative order against a licensee for violation of any law or any regulation applicable to the conduct of his licensed activities;6. Refusal to permit an investigation or examination by the Commission;7. Failure to pay any fee or assessment imposed by this chapter;8. Failure to comply with any order of the Commission; or9. Failure to maintain registration with, or a unique identifier from, the Registry.2009, cc. 273, 453, § 6.1-431.17; 2010, c. 794.
VA Code § 6.2-1717 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 17 - Mortgage Loan Originators|§ 6.2-1717. Filing of written report with Commissioner; events affecting a licensee

Within 15 days of becoming aware of the occurrence of any of the events listed below, a licensee shall file a written report with the Commissioner describing such event:1. The institution of revocation or suspension proceedings against the licensee by any state or other governmental authority;2. The denial of the opportunity to engage in business by any state or other governmental authority;3. Any felony indictment of the licensee;4. Any felony conviction of the licensee; and5. Such other events as the Commission may determine and identify by regulation.2009, cc. 273, 453, § 6.1-431.18; 2010, c. 794.
VA Code § 6.2-1718 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 17 - Mortgage Loan Originators|§ 6.2-1718. Notice of proposed suspension or revocation

The Commission may not revoke or suspend the license of any licensee under this chapter unless it has given the licensee 21 days' notice in writing of the reasons for the proposed revocation or suspension and has given the licensee an opportunity to introduce evidence and be heard. The notice shall be sent by certified mail to the licensee's last address on the Commission's records and shall state with particularity the basis for the contemplated action. Within 14 days of mailing the notice, the licensee may file with the clerk of the Commission a written request for a hearing. If a hearing is requested, the Commission shall not suspend or revoke the license except based upon findings made at such hearing. The hearing shall be conducted in accordance with the provisions of Title 12.1.2009, cc. 273, 453, § 6.1-431.19; 2010, c. 794.
VA Code § 6.2-1719 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 17 - Mortgage Loan Originators|§ 6.2-1719. Civil penalties

The Commission may impose a civil penalty not exceeding $2,500 upon any individual required to be licensed under this chapter who it determines, in proceedings commenced in accordance with the Commission's Rules, has violated any of the provisions of this chapter or any other law or regulation applicable to the licensee's activities. For the purposes of this section, each separate violation shall be subject to the civil penalty herein prescribed, and each day that an unlicensed individual engages in the business of a mortgage loan originator shall constitute a separate violation.2009, cc. 273, 453, § 6.1-431.20; 2010, c. 794; 2012, cc. 52, 187.
VA Code § 6.2-1721 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 17 - Mortgage Loan Originators|§ 6.2-1721. Cease and desist orders

A. If the Commission determines that any mortgage loan originator required to be licensed hereunder has violated any provision of this chapter or any regulation adopted pursuant thereto, 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 address of record in the Registry for such mortgage loan originator and shall state the grounds for the contemplated action.B. Within 14 days after the mailing of the notice, the person 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 issue a cease and desist order except based upon findings made at the hearing. The hearing shall be conducted in accordance with the provisions of Title 12.1. The Commission may enforce compliance with any such order issued under this section by imposition and collection of such penalties as may be prescribed by Commission regulations.2011, c. 435.
VA Code § 6.2-1800 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 18 - Payday Lenders|§ 6.2-1800. Definitions

As used in this chapter, unless the context requires a different meaning:"Affiliate" means a person related to a licensee by common ownership or control, or any employee or agent of a licensee."Annual percentage rate" has the same meaning as in the federal Truth in Lending Act (15 U.S.C. § 1601 et seq.) and its implementing regulations, as they may be amended from time to time. All fees and charges payable directly or indirectly by a borrower to a licensee as a condition to a loan, including interest and the monthly maintenance fees authorized under § 6.2-1817, shall be included in the computation of the annual percentage rate."Check" means a draft drawn on the account of an individual at a depository institution."Depository institution" means a bank, savings institution, or credit union."Interest" means all charges payable directly or indirectly by a borrower to a licensee as a condition to a loan, including fees, service charges, and renewal charges, and any ancillary product sold in connection with a loan, but does not include the monthly maintenance fees, deposit item return fees, or late charges authorized under § 6.2-1817."Licensee" means a person to whom a license has been issued under this chapter."Loan amount" means the principal amount of a loan, exclusive of fees or charges."Principal" means any person who, directly or indirectly, owns or controls (i) 10 percent or more of the outstanding stock of a stock corporation or (ii) a 10 percent or greater interest in a nonstock corporation or a limited liability company."Short-term loan" means a loan made pursuant to this chapter.2002, c. 897, § 6.1-444; 2005, c. 571; 2010, c. 794; 2020, cc. 1215, 1258.
VA Code § 6.2-1801 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 18 - Payday Lenders|§ 6.2-1801. License requirement

A. No person shall engage in the business of making loans to individuals for personal, family, household, or other nonbusiness purposes, and charge, contract for, or receive, directly or indirectly, on or in connection with any loan interest, charges, compensation, consideration, or expense that in the aggregate is greater than the interest permitted by § 6.2-303, whether or not the person has a location in the Commonwealth, except as provided and authorized by this chapter, Chapter 15 (§ 6.2-1500 et seq.), or Chapter 22 (§ 6.2-2200 et seq.) and without having first obtained a license under this chapter from the Commission.B. No person shall engage in the business of arranging or brokering short-term loans for any consumer residing in the Commonwealth, whether or not the person has an office or conducts business at a location in the Commonwealth.C. The provisions of subsection A shall apply to any person who seeks to evade its application by any device, subterfuge, or pretense whatsoever, including:1. The loan, forbearance, use, or sale of (i) credit, as guarantor, surety, endorser, comaker, or otherwise; (ii) money; (iii) goods; or (iv) things in action;2. The use of collateral or related sales or purchases of goods or services, or agreements to sell or purchase, whether real or pretended; receiving or charging compensation for goods or services, whether or not sold, delivered, or provided; and3. The real or pretended negotiation, arrangement, or procurement of a loan through any use or activity of a third person, whether real or fictitious.D. Any loan made in violation of this section is void, and no person shall have the right to collect, receive, or retain any principal, interest, fees, or other charges in connection with the loan.2002, c. 897, § 6.1-445; 2005, c. 571; 2010, c. 794; 2020, cc. 1215, 1258.
VA Code § 6.2-1802 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 18 - Payday Lenders|§ 6.2-1802. Applicability

The provisions of this chapter shall not apply to any depository institution that does not elect to become licensed under this chapter. Electing to become licensed under this chapter shall constitute a waiver of the benefit of any and all laws of the Commonwealth and other states and federal laws preemptive of, or inconsistent with, the provisions of this chapter.2002, c. 897, § 6.1-446; 2010, c. 794.
VA Code § 6.2-1803 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 18 - Payday Lenders|§ 6.2-1803. Application for license; form; content; fee

A. An application for a license under this chapter shall be made in writing, under oath and on a form provided by the Commissioner.B. The application shall set forth:1. The name and address of the applicant;2. If the applicant is a firm or partnership, the name and address of each member of the firm or partnership;3. If the applicant is a corporation or a limited liability company, the name and address of each officer, director, registered agent, and each principal;4. The addresses of the locations of the offices to be approved; and5. Such other information concerning the financial responsibility, background, experience and activities of the applicant and its members, officers, directors, and principals as the Commissioner may require.C. The application shall be accompanied by payment of an application fee of $500 or other reasonable amount that the Commission prescribes by regulation.D. The application fee shall not be refundable in any event. The fee shall not be abated by surrender, suspension, or revocation of the license.2002, c. 897, § 6.1-447; 2010, c. 794; 2020, cc. 1215, 1258.
VA Code § 6.2-1804 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 18 - Payday Lenders|§ 6.2-1804. Bond required

The application for a license shall be accompanied by a bond filed with the Commissioner with corporate surety authorized to execute such bond in the Commonwealth, in the sum of $10,000 per office, or such greater sum as the Commission may require, but not to exceed a total of $500,000. The form of such bond shall be approved by the Commission. The bond shall be continuously maintained thereafter in full force. The bond shall be conditioned upon the applicant or licensee performing all written agreements with borrowers or prospective borrowers, correctly and accurately accounting for all funds received by him in his licensed business, and conducting his licensed business in conformity with this chapter and all other applicable law. Any person who may be damaged by noncompliance of the licensee with any condition of such bond may proceed on such bond against the principal or surety thereon, or both, to recover damages. The aggregate liability under the bond shall not exceed the penal sum of the bond.2002, c. 897, § 6.1-448; 2010, c. 794; 2020, cc. 1215, 1258.
VA Code § 6.2-1805 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 18 - Payday Lenders|§ 6.2-1805. Investigation of applications

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.2002, c. 897, § 6.1-449; 2010, c. 794.
VA Code § 6.2-1806 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 18 - Payday Lenders|§ 6.2-1806. Qualifications

A. Upon the filing and investigation of an application for a license, and compliance by the applicant with the provisions of §§ 6.2-1803 and 6.2-1804, the Commission shall issue and deliver to the applicant the license applied for to engage in business under this chapter at the offices specified in the application if it finds:1. That 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 law; and2. That the applicant has unencumbered liquid assets per office available for the operation of the business of at least $25,000.B. If the Commission fails to make such findings, no license shall be issued and the Commissioner shall notify the applicant of the denial and the reasons for such denial.2002, c. 897, § 6.1-450; 2010, c. 794.
VA Code § 6.2-1807 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 18 - Payday Lenders|§ 6.2-1807. Licenses; places of offices; changes

A. Each license shall:1. State the address of each approved office at which the business is to be conducted;2. State fully the name of the licensee; and3. Be prominently posted in each office of the licensee.B. No licensee shall:1. Use any name other than the name set forth on the license issued by the Commission; or2. Open an additional office or relocate any office without prior approval of the Commission.C. Applications for Commission approval to open an additional office or relocate any office shall be made in writing on a form provided by the Commissioner and shall be accompanied by payment of a $150 nonrefundable application fee or other reasonable amount as the Commission may prescribe by regulation. The application shall be approved unless the Commission finds that the applicant does not have the required liquid assets or has not conducted business under this chapter efficiently, fairly, in the public interest, and in accordance with law. The application shall be deemed approved if notice to the contrary has not been mailed by the Commission to the applicant within 30 days of the date the application is received by the Commission. After approval, the applicant shall give written notice to the Commissioner within 10 days of the commencement of business at the additional office or relocated office.D. Every licensee shall within 10 days notify the Commissioner, in writing, of the closing of any office and of the name, address, and position of each new senior officer, member, partner, or director and provide such other information with respect to any such change as the Commissioner may reasonably require.E. Licenses shall:1. Not be transferable or assignable, by operation of law or otherwise; and2. Remain in force until they have been surrendered, revoked, or suspended. The surrender, revocation, or suspension of a license shall not affect any preexisting legal right or obligation of the licensee.2002, c. 897, § 6.1-451; 2010, c. 794; 2020, cc. 1215, 1258.
VA Code § 6.2-1808 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 18 - Payday Lenders|§ 6.2-1808. Acquisition of control; application

A. Except as provided in this section, no person shall acquire, directly or indirectly, 25 percent or more of the voting shares of a corporation or 25 percent or more of the ownership of any other person licensed to conduct business under this chapter unless such person first:1. Files an application with the Commission in such form as the Commissioner may prescribe from time to time;2. Delivers such other information to the Commissioner as the Commissioner may require concerning the financial responsibility, background, experience, and activities of the applicant, its directors, senior officers, principals and members, and of any proposed new directors, senior officers, principals or members of the licensee; and3. Pays such application fee as the Commission may prescribe.B. Upon the filing and investigation of an application, the Commission shall permit the applicant to acquire the interest in the licensee if it finds that the applicant, its members if applicable, its directors, senior officers and principals, and any proposed new directors, members, senior officers and principals have the financial responsibility, character, reputation, experience and general fitness to warrant belief that the business will be operated efficiently and fairly, in the public interest, and in accordance with law. The Commission shall grant or deny the application within 60 days from the date a completed application accompanied by the required fee is filed unless the period is extended by order of the Commissioner reciting the reasons for the extension. If the application is denied, the Commission shall notify the applicant of the denial and the reasons for the denial.C. The provisions of this section shall not apply to (i) the acquisition of an interest in a licensee, directly or indirectly, including an acquisition by merger or consolidation, by or with a person licensed by this chapter, (ii) the acquisition of an interest in a licensee, directly or indirectly, including an acquisition by merger or consolidation, by or with a person affiliated through common ownership with the licensee, or (iii) the acquisition of an interest in a licensee by a person by bequest, descent, survivorship or operation of law. The person acquiring an interest in a licensee in a transaction that is exempt from filing an application by this subsection shall send written notice to the Commissioner of such acquisition within 30 days of its closing.2002, c. 897, § 6.1-452; 2010, c. 794.
VA Code § 6.2-1809 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 18 - Payday Lenders|§ 6.2-1809. Retention of books, accounts, and records

Every licensee shall maintain in its approved offices 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 regulations adopted in furtherance thereof. Such books, accounts and records shall be maintained apart and separate from any other business in which the licensee is involved. Such records relating to short-term loans, including copies of checks given to a licensee as security for such loans, shall be retained for at least three years after final payment is made on any loan.2002, c. 897, § 6.1-453; 2004, c. 295; 2010, c. 794; 2020, cc. 1215, 1258.
VA Code § 6.2-1811 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 18 - Payday Lenders|§ 6.2-1811. Annual report

A. Each licensee under this chapter shall annually, on or before March 25, file a written report with the Commissioner containing such information as the Commissioner may require concerning his business and operations during the preceding calendar year as to each approved office. Reports shall be made under oath and shall be in the form prescribed by the Commissioner.B. The Commissioner shall publish annually and make available to the public an analysis of the information required under this section and other information the Commissioner may choose to include. The published analysis shall include all of the following:1. The total number of borrowers, loans, defaulted loans, and charged-off loans and the total dollar value of the charged-off loans;2. The average loan size, average contracted annual percentage rate, average contracted loan charges, average loan charges actually paid, total contracted loan charges, and total loan charges actually paid;3. The total number of deposit item return fees and the total dollar value of those charges;4. The total number of licensee business locations and the average number of borrowers per location; and5. A summary of pending and completed enforcement actions, which shall include lists of suspended or revoked licenses, cease and desist orders, and civil penalties pursuant to this chapter.2002, c. 897, § 6.1-454; 2010, c. 794; 2020, cc. 1215, 1258.
VA Code § 6.2-1812 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 18 - Payday Lenders|§ 6.2-1812. Other reporting requirements

A. A licensee shall file a written report with the Commissioner within 15 days following the occurrence of any of the following:1. The filing of bankruptcy, reorganization or receivership proceedings by or against the licensee;2. The institution of administrative or regulatory proceedings against the licensee by any governmental authority;3. Any felony indictments of the licensee or any of its members, partners, directors, officers, or principals;4. Any felony conviction of the licensee or any of its members, partners, directors, officers, or principals; and5. Such other event as the Commission may prescribe by regulation.B. The report shall be in writing and describe the event and its expected impact on the business of the licensee.2002, c. 897, § 6.1-455; 2010, c. 794.