reglab/statecodes huggingface dataset:
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 23 - Safe Deposit Boxes › § 6.2-2306. Opening box; marking contents

Upon the expiration of 60 days from the date of mailing the notice required by § 6.2-2305 and the failure within such period of the lessee of the box according to the records of the company to pay the amount due for the rental thereof, together with any charges for which the rental agreement provides, the company may, in the presence of two company employees, one of whom shall be a notary public, cause the box to be opened and the contents thereof, if any, to be removed, inventoried, and sealed up by the notary public in a package. The notary public shall distinctly mark upon the package the name of the lessee of the box according to the records of the company and the date of removal of the property.
Code 1950, § 6-265; 1966, c. 584, § 6.1-334; 2003, c. 437; 2010, c. 794.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 23 - Safe Deposit Boxes › § 6.2-2307. Disposition of contents

When a package has been marked for identification by a notary public as required under the provisions of § 6.2-2306, it shall, in the presence of an officer of the company, be placed by the notary public in one of the general safes or boxes of the company. The lessee shall be liable to the company for storage of the package at a rental rate that does not exceed the original rental of the box that was opened. The package shall remain in such general safe or box for a period of not less than two years, unless sooner removed by the lessee.
Code 1950, § 6-266; 1966, c. 584, § 6.1-335; 2010, c. 794.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 23 - Safe Deposit Boxes › § 6.2-2308. Certificate of notary public

A. The notary public who placed a package in one of the general safes or boxes of the company as required under the provisions of § 6.2-2307 shall, upon doing so, file with the company a certificate, under seal, which shall set out the date of the opening of such box, the name of the lessee of the box, and a list of the contents, if any. The certificate shall be sworn to by the notary public and shall be prima facie evidence of the facts therein set forth in all legal proceedings wherein evidence of such facts would be admissible.
B. The company shall mail a copy of such certificate within 10 days after its filing, to the lessee of the box at his last known post-office address, by registered or certified mail, return receipt requested. The company shall include in its mailing of the copy of the certificate a notice that the contents will be kept, at the expense of the lessee, in a general safe or box in the vaults of the company for a period of not less than two years, unless sooner removed by the lessee.
Code 1950, § 6-267; 1966, c. 584, § 6.1-336; 1997, c. 129; 2010, c. 794.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 23 - Safe Deposit Boxes › § 6.2-2309. Subsequent right of lessee to contents

At any time after the mailing of the notice as required by § 6.2-2308 and before the expiration of two years, the lessee may require the delivery of the contents of the box as shown by the certificate, upon payment of all rentals due at the time of opening the box, the cost of opening the box, the fees of the notary public for issuing his certificate thereon, and all charges accrued during the period the contents remained in the general safe or box of the company, together with any charges for which the rental agreement provides.
Code 1950, § 6-268; 1966, c. 584, § 6.1-337; 2010, c. 794.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 23 - Safe Deposit Boxes › § 6.2-2310. Sale of contents after two years

A. After the expiration of two years from the time of mailing the certificate provided for in § 6.2-2308, if the lessee has not obtained delivery of the contents, the company shall:
1. Mail in a securely closed envelope, by registered or certified mail, return receipt requested, addressed to the lessee at his last known post-office address, a notice stating that two years have elapsed since the opening of the box and the mailing of the certificate, and that the company will sell all the property or articles of value set out in the certificate at a time and place stated in the notice, which time shall be not less than 60 days after the date of mailing such notice. The notice shall also state the amount due for rental, up to the time of opening the box, the cost of opening the box, and the further cost of safekeeping of its contents for the period since the opening of the safe or box; and
2. Publish twice a notice of the time and place of the sale, not more than 20 days prior to the sale, in a newspaper published in the locality where the sale will be held. If there is no newspaper published in the locality, then in a newspaper published in the locality nearest thereto having a newspaper.
B. Unless the lessee pays, on or before the day stated in the notice, all such sums, and all the charges accruing to the time of payment, together with any charges for which the rental agreement provides, the company may sell all the property or articles of value set out in such certificate for cash, at public auction, at the time and place stated in such notice.
Code 1950, § 6-269; 1966, c. 584, § 6.1-338; 1997, c. 129; 2010, c. 794.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 23 - Safe Deposit Boxes › § 6.2-2311. Disposition of proceeds of sale

From the proceeds of any sale held pursuant to the provisions of § 6.2-2310, the company shall deduct all its charges, as stated in such notice, together with any further charges that shall have accrued since the mailing thereof, including reasonable expenses for notices, advertising and sale, together with any charges for which the rental agreement provides. The balance, if any, of such proceeds shall be deposited to the credit of the lessee and shall be paid to the lessee or his assignee or legal representative, on demand and upon production of satisfactory evidence of identity. The company shall be liable to the lessee for interest on any balance so deposited at the annual rate of three percent.
Code 1950, § 6-270; 1966, c. 584, § 6.1-339; 2010, c. 794.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 23 - Safe Deposit Boxes › § 6.2-2312. Rental for storage unpaid for three years

If a company has received for safekeeping from any person any package or box to be stored in its general vault, and the rental for such storage shall have remained unpaid for a period of three years, the company shall have the right to open such package or box and to have the contents thereof inventoried, upon compliance substantially with the procedure as to witnesses, notices, and certificates provided for the opening of any box in §§ 6.2-2305 through 6.2-2308. If the rental or other charges for the safekeeping of such package or box and the charges incident to the opening of the same remain unpaid for a period of two years from the date of such opening, the contents thereof may be sold upon compliance substantially with the procedure provided for the sale of the contents of any box in § 6.2-2310, and the proceeds of such sale shall be treated in the same manner provided for the treatment of the proceeds of sale of the contents of any box in § 6.2-2311.
Code 1950, § 6-273; 1966, c. 584, § 6.1-342; 2010, c. 794.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 23 - Safe Deposit Boxes › § 6.2-2313. Documents having pretium affectionis

Whenever the contents of any box opened under the provisions of this chapter shall consist either wholly or in part of documents, letters, or other papers of a private nature, or articles having a pretium affectionis, such documents, letters, papers, or articles shall not be sold, but shall be retained by the company, without liability.
Code 1950, § 6-271; 1966, c. 584, § 6.1-340; 2010, c. 794.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 23 - Safe Deposit Boxes › § 6.2-2314. Provisions confer cumulative remedy

The provisions of this chapter shall not (i) preclude any other remedy existing for the enforcement of the claims of a company against the person in whose name the box is rented, nor (ii) bar the right of the company to recover the unpaid portion of the debt from the proceeds of the sale of the property deposited with it.
Code 1950, § 6-272; 1966, c. 584, § 6.1-341; 2010, c. 794.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 24 - Securitization Transactions › § 6.2-2400. Definition

As used in this chapter:
"Securitization transaction" means a transaction relating to the issuance or transfer by a special purpose entity of beneficial interests or undivided interests, which entitle their holders to receive payments or other distributions that depend primarily on the cash flow from assets, including financial assets and other credit exposures, in which that special purpose entity has rights or the power to transfer rights.
2004, c. 600, § 6.1-473; 2010, c. 794.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 24 - Securitization Transactions › § 6.2-2401. Securitization transactions; no interest retained by transferor

Notwithstanding any other provision of law, including § 8.9A-623, to the extent set forth in the transaction documents relating to a securitization transaction:
1. Any property, assets, or rights purported to be transferred, in whole or in part, in the securitization transaction shall be deemed to no longer be the property, assets, or rights of the transferor;
2. A transferor in the securitization transaction, its creditors or, in any insolvency proceeding with respect to the transferor or the transferor's property, a bankruptcy trustee, receiver, debtor, debtor in possession, or similar person, to the extent the issue is governed by the laws of the Commonwealth, shall have no rights, legal or equitable, whatsoever to reacquire, reclaim, recover, repudiate, disaffirm, redeem, or recharacterize as property of the transferor any property, assets, or rights purported to be transferred, in whole or in part, by the transferor; and
3. In the event of a bankruptcy, receivership, or other insolvency proceeding with respect to the transferor or the transferor's property, to the extent the issue is governed by the laws of the Commonwealth, such property, assets, and rights shall not be deemed to be part of the transferor's property, assets, rights, or estate.
2004, c. 600, § 6.1-473; 2010, c. 794.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 24 - Securitization Transactions › § 6.2-2402. Treatment of securitization transactions

Nothing contained in this chapter shall:
1. Be deemed to require any securitization transaction to be treated as a sale for federal or state tax purposes or to preclude the treatment of any securitization transaction as debt for federal or state tax purposes or to change any applicable laws relating to the perfection and priority of security or ownership interests of persons other than the transferor, hypothetical lien creditor or, in the event of a bankruptcy, receivership or other insolvency proceeding with respect to the transferor or its property, a bankruptcy trustee, receiver, debtor, debtor in possession, or similar person; or
2. Change the tax treatment of securitization transactions that take place pursuant to this chapter.
2004, c. 600, § 6.1-473; 2010, c. 794.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 25 - Refund Anticipation Loans › § 6.2-2500. Definitions

As used in this chapter, unless the context requires a different meaning:
"Applicant" means a customer who applies for a refund anticipation loan through a facilitator.
"Borrower" means an applicant who receives a refund anticipation loan through a facilitator.
"Customer" means an individual for whom tax preparation services are performed.
"Facilitator" means a person who receives or accepts for delivery an application for a refund anticipation loan, delivers a check in payment of refund anticipation loan proceeds, or in any other manner acts to allow the making of a refund anticipation loan. "Facilitator" does not include a bank, thrift, savings association, industrial bank, or credit union, operating under the laws of the United States or the Commonwealth, an affiliate that is a servicer for such an entity, or any person who acts solely as an intermediary and does not deal with an applicant in the making of the refund anticipation loan.
"Refund anticipation loan" means a loan, whether provided through a facilitator or by another entity such as a financial institution, in anticipation of, and whose payment is secured by, a customer's federal or state income tax refund or by both.
"Refund anticipation loan fee" means any fee, charge, or other consideration imposed by a lender or a facilitator for a refund anticipation loan. The term does not include any fee, charge, or other consideration usually imposed by a facilitator in the ordinary course of business for nonloan services, such as fees for preparing tax returns and fees for the electronic filing of tax returns.
"Refund anticipation loan fee schedule" means a list or table of refund anticipation loan fees that (i) includes three or more representative refund anticipation loan amounts; (ii) lists separately each fee or charge imposed, as well as a total of all fees imposed, related to the making of a refund anticipation loan; and (iii) includes, for each representative loan amount, the estimated annual percentage rate calculated under the guidelines established by the federal Truth in Lending Act (15 U.S.C. § 1601 et seq.).
"Tax return" means a return, declaration, statement, refund claim, or other document required to be made or filed in connection with state or federal income taxes.
2006, c. 399, § 6.1-474; 2010, c. 794.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 25 - Refund Anticipation Loans › § 6.2-2502. Prohibited activities

Any facilitator who offers to facilitate, or who facilitates, a refund anticipation loan shall not:
1. Require a customer to enter into a loan arrangement in order to complete a tax return;
2. Misrepresent a material factor or condition of a refund anticipation loan;
3. Fail to process the application for a refund anticipation loan promptly after an applicant applies for the loan; or
4. Engage in any transaction, practice, or course of business that operates a fraud upon any person in connection with a refund anticipation loan.
2006, c. 399, § 6.1-476; 2010, c. 794.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 25 - Refund Anticipation Loans › § 6.2-2503. Right of rescission

A borrower who obtains a refund anticipation loan may rescind the loan, on or before the close of business on the next day of business, by either returning the original check issued for the loan or providing the amount of the loan in cash to the lender or the facilitator. The facilitator may not charge the borrower a fee for rescinding the loan or a refund anticipation loan fee if the loan is rescinded but may charge the customer a fee for establishing and administering a bank account to electronically receive and distribute the refund.
2006, c. 399, § 6.1-477; 2010, c. 794.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 25 - Refund Anticipation Loans › § 6.2-2504. Preemption of local laws

This chapter shall preempt and be exclusive of all ordinances of any locality relating to refund anticipation loans. This section shall be given retroactive and prospective effect.
2006, c. 399, § 6.1-478; 2010, c. 794.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 25 - Refund Anticipation Loans › § 6.2-2505. Violations; enforcement

Any violation of the provisions of this chapter shall constitute a prohibited practice under the provisions of § 59.1-200 and shall be subject to any and all of the enforcement provisions of the Virginia Consumer Protection Act (§ 59.1-196 et seq.).
2006, c. 399, § 6.1-479; 2010, c. 794.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 26 - Qualified Education Loan Servicers › § 6.2-2601. License requirement; exceptions

A. No person shall act as a qualified education loan servicer, directly or indirectly, whether or not the person has an office or any other physical presence in the Commonwealth, except in accordance with the provisions of this chapter and without having first obtained a license under this chapter from the Commission.
B. Every qualified education loan servicer required to be licensed under this chapter shall register with the Registry and be subject to such registration and renewal requirements as may be established by the Registry, in addition to any requirements of this chapter. In adopting regulations pursuant to § 6.2-2622, the Commission shall include any terms, conditions, or requirements applicable to such registration and renewal. Any fees required by the Registry shall be separate and apart from any fees imposed by this chapter. The Commission, at its discretion, may collect any registration and renewal fees on behalf of the Registry and remit such fees to the Registry or permit the Registry to collect any fees imposed by this chapter and remit such fees to the Commission.
C. In connection with its implementation and administration of this chapter, the Commission may establish agreements or contracts with the Registry or other entities designated by the Registry to collect, distribute, and maintain information and records, and process fees, related to qualified education loan servicers required to be licensed under this chapter. In establishing such agreements or contracts, the Commission shall not be subject to the Virginia Public Procurement Act (§ 2.2-4300 et seq.).
D. The provisions of this chapter shall not apply to:
1. Any bank, savings institution, credit union, or financial institution subject to regulation under 12 U.S.C. § 2002;
2. Any wholly owned subsidiary of any bank, savings institution, or credit union, provided that such wholly owned subsidiary is subject to the general supervision or regulation of, or subject to audit or examination by, a regulatory body or agency of the United States or any state; or
3. Any public or private nonprofit institution of higher education.
2020, cc. 1198, 1250.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 26 - Qualified Education Loan Servicers › § 6.2-2603. Application for license; form; content; fee

A. An application for a license under this chapter shall be made in writing and on a form provided by the Commission.
B. The application shall set forth:
1. The name and address of the applicant, the name and address of each senior officer, and (i) if the applicant is a partnership, firm, or association, the name and address of each partner or member; (ii) if the applicant is a corporation or limited liability company, the name and address of each director, member, registered agent, and principal; or (iii) if the applicant is a business trust, the name and address of each trustee;
2. The address of the principal place of business to be licensed;
3. Such other information concerning the financial responsibility, background, experience, and general fitness of the applicant and its members, senior officers, directors, trustees, and principals as the Commissioner may require; and
4. Any other pertinent information that the Commissioner may require.
C. The application shall be accompanied by payment of a nonrefundable application fee as prescribed by the Commission. The fee shall not be abated by surrender, suspension, or revocation of the license.
D. If the Commissioner requests information to complete a deficient application and the information is not received within 60 days of the Commissioner's request, the application shall be deemed abandoned unless a request for an extension of time is received and approved by the Commissioner prior to the expiration of the 60-day period. However, this subsection shall not be construed to prohibit the Commission from denying a license application that does not meet the requirements of this chapter.
2020, cc. 1198, 1250.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 26 - Qualified Education Loan Servicers › § 6.2-2604. 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 principal amount as determined by the Commissioner. The amount of the bond shall be not less than $50,000 nor more than $500,000. The form of such bond shall be approved by the Commissioner. Such bond shall be continuously maintained thereafter in full force. Such bond shall be conditioned upon the applicant or licensee performing all written agreements pertaining to qualified education loans, correctly and accurately accounting for all funds received by the applicant or licensee in connection with qualified education loans, and conducting its business in conformity with this chapter and all applicable laws. The aggregate liability under the bond shall not exceed the penal sum of the bond.
2020, cc. 1198, 1250.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 26 - Qualified Education Loan Servicers › § 6.2-2605. 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.
B. For the purpose of investigating individuals who are members, senior officers, directors, trustees, and principals of an applicant, such persons shall consent to a criminal history records check and submit to fingerprinting. Each member, senior officer, director, trustee, and principal shall pay for the cost of such fingerprinting and criminal history records check. Such persons shall cause their fingerprints, personal descriptive information, and records check fees to be submitted to either of the following, as prescribed by the Commissioner:
1. 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 searches to the Commissioner or his designee, who shall be an employee of the Commission; or
2. The Registry, provided that it is capable of processing criminal history records checks.
C. If any member, senior officer, director, trustee, or principal of an applicant fails to cause his fingerprints, personal descriptive information, or records check fees to be submitted in accordance with subsection B, the application for a qualified education loan servicer license shall be denied.
2020, cc. 1198, 1250.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 26 - Qualified Education Loan Servicers › § 6.2-2606. Qualifications

A. Upon the filing and investigation of an application for a license, compliance by the applicant with the provisions of §§ 6.2-2603 and 6.2-2604, and compliance by the persons identified in subsection B of § 6.2-2605 with the provisions contained therein, the Commission shall issue and deliver to the applicant the license applied for to engage in business under this chapter at the location specified in the application if it finds that:
1. The financial responsibility, character, experience, and general fitness of the applicant and its members, senior officers, directors, trustees, 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 the law;
2. The application does not contain any false statement of a material fact; and
3. The application does not omit any statement of a material fact that is required by § 6.2-2603.
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.
2020, cc. 1198, 1250.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 26 - Qualified Education Loan Servicers › § 6.2-2607. Licenses; place of business; changes; renewal

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, trustee, and principal. At the direction of the Commissioner, any such individual shall be treated as a member, senior officer, director, trustee, or principal of an applicant for the purpose of being investigated pursuant to subsection B of § 6.2-2605. 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, revoked, or suspended. The expiration, surrender, revocation, or suspension of a license shall not affect any preexisting legal right or obligation of such licensee.
E. Notwithstanding any other provision of this chapter, a qualified education loan servicer license shall expire at the end of each calendar year unless it is renewed by a licensee prior to the expiration date. A licensee may renew its license by (i) requesting renewal through the Registry and (ii) complying with any requirements associated with such renewal request that are imposed by the Registry. If a qualified education loan servicer license has expired, the Commission may by regulation permit the former licensee to seek license reinstatement after the license expiration date by renewing its license in accordance with this subsection and paying a reinstatement fee as prescribed by the Commission.
2020, cc. 1198, 1250.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 26 - Qualified Education Loan Servicers › § 6.2-2608. Retention of records; responding to the Bureau

A. Each licensee shall maintain in its principal place of business such books, accounts, and records as the Commissioner may reasonably require in order to determine whether such person is complying with the provisions of this chapter and other laws applicable to the conduct of its business. Such books, accounts, and records shall be maintained apart and separate from any other business in which the qualified education loan servicer is involved. Each licensee shall maintain adequate records of each qualified education loan transaction for at least three years after final payment is made on such loan or the assignment of such qualified education loan, whichever occurs first.
B. To safeguard the privacy of qualified education loan borrowers, records containing personal financial information shall be shredded, incinerated, or otherwise disposed of by a licensee in a secure manner. Licensees may arrange for the shredding, incineration, or other disposal of the records from a business record destruction vendor.
C. When the Bureau requests a written response, books, records, documentation, or other information from a licensee in connection with the Bureau's investigation, enforcement, or examination of compliance with applicable laws, the licensee shall deliver a written response as well as any requested books, records, documentation, or information within the time period specified in the Bureau's request. If no time period is specified, a written response as well as any requested books, records, documentation, or information shall be delivered by the licensee to the Bureau not later than 30 days from the date of such request. In determining the specified time period for responding to the Bureau and when considering a request for an extension of time to respond, the Bureau shall take into consideration the volume and complexity of the requested written response, books, records, documentation, or information and such other factors as the Bureau determines to be relevant under the circumstances.
2020, cc. 1198, 1250.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 26 - Qualified Education Loan Servicers › § 6.2-2612. Reporting requirements

A. Within 15 days following the occurrence of any of the following events, a licensee shall file a written report with the Commission describing such event and its expected impact upon the business of the licensee:
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 indictment of the licensee or any of its members, directors, senior officers, trustees, or principals;
4. Any felony conviction of the licensee or any of its members, directors, senior officers, trustees, or principals; and
5. Such other events as the Commission may prescribe by regulation.
B. Each licensee shall file periodic written reports with the Commissioner or the Registry containing such information as the Commissioner may require concerning the licensee's business and operations. Reports shall be in the form and be submitted with such frequency and by such dates as may be prescribed by the Commissioner.
2020, cc. 1198, 1250.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 26 - Qualified Education Loan Servicers › § 6.2-2613. Investigations; examinations

A. The Commission may, as often as it deems necessary, investigate and examine the affairs, business, premises, and records of any person licensed or required to be licensed under this chapter insofar as they pertain to any business for which a license is required by this chapter. Examinations of licensees shall be conducted at least once in each three-year period. In the course of such investigations and examinations, the owners, members, officers, directors, partners, trustees, and employees of the 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.
B. 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. In lieu of conducting an examination, the Commission may accept the examination report of the federal government or another state.
2020, cc. 1198, 1250.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 26 - Qualified Education Loan Servicers › § 6.2-2614. Annual fees

A. In order to defray the costs of their examination, supervision, and regulation, every licensee under this chapter shall pay an annual fee calculated in accordance with a schedule set by the Commission. All such fees shall be assessed on or before April 1 for every calendar year. All such fees shall be paid by the licensee to the State Treasurer on or before May 1 following each assessment.
B. In addition to the annual fee prescribed in subsection A, when it becomes necessary to examine or investigate the books and records of a licensee under this chapter at a location outside the Commonwealth, the licensee 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 its examination, supervision, and regulation or shall pay a reasonable per diem rate approved by the Commission.
2020, cc. 1198, 1250.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 26 - Qualified Education Loan Servicers › § 6.2-2615. Suspension or revocation of license

A. The Commission may suspend or revoke any license issued under this chapter upon any of the following grounds:
1. Any ground for denial 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 business;
3. A course of conduct consisting of the failure to perform written agreements with qualified education loan borrowers;
4. Failure to account for funds received or disbursed to the satisfaction of the person supplying or receiving qualified education loan funds;
5. Conviction of any felony or of a misdemeanor involving fraud, misrepresentation, or deceit;
6. Entry of a judgment against the licensee involving fraud, misrepresentation, or deceit;
7. Entry of a federal or state administrative order against the licensee for violation of any law or regulation applicable to the conduct of the licensee's business;
8. Refusal to permit an investigation or examination by the Commission;
9. Failure to pay any fee or assessment imposed by this chapter; or
10. Failure to comply with any order of the Commission.
B. For the purposes of this section, acts of any senior officer, director, member, partner, trustee, or principal shall be deemed acts of the licensee.
2020, cc. 1198, 1250.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 26 - Qualified Education Loan Servicers › § 6.2-2616. Notice of proposed suspension or revocation

The Commission shall not revoke or suspend the license of any licensee upon any of the grounds set forth in § 6.2-2615 until it has given the licensee (i) 21 days' notice in writing of the reasons for the proposed revocation or suspension and (ii) 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 licensee 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 suspend or revoke the license except based upon findings made at such hearing. The hearing shall be conducted in accordance with the Commission's Rules.
2020, cc. 1198, 1250.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 26 - Qualified Education Loan Servicers › § 6.2-2617. Cease and desist orders

A. If the Commission determines that any person has violated any provision of this chapter or any regulation adopted by the Commission pursuant thereto, or violated any other law or regulation applicable to the conduct of a licensee's business, 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 and other applicable laws and regulations. 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.
B. Within 14 days of mailing 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 on the basis of findings made at the hearing. The hearing shall be conducted in accordance with the Commission's Rules. The Commission may enforce compliance with any order issued under this section by imposition and collection of such fines and penalties as may be prescribed by law.
2020, cc. 1198, 1250.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 26 - Qualified Education Loan Servicers › § 6.2-2618. Civil penalties

The Commission may impose a civil penalty not exceeding $2,500 upon any person who it determines, in proceedings commenced in accordance with the Commission's Rules, has violated any of the provisions of this chapter or regulations adopted by the Commission pursuant thereto or violated any other law or regulation applicable to conduct of the person's business. For the purposes of this section, each separate violation shall be subject to the civil penalty prescribed in this section, and each day that an unlicensed person engages in the business of a qualified education loan servicer shall constitute a separate violation.
2020, cc. 1198, 1250.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 26 - Qualified Education Loan Servicers › § 6.2-2619. Private cause of action

A. A qualified education loan servicer shall:
1. Comply with this chapter.
2. Comply with all applicable federal laws related to qualified education loan servicing, as from time to time amended, and the regulations promulgated thereunder.
B. Any person who suffers damage as a result of the failure of a qualified education loan servicer to comply with the requirements of subdivisions A 1 and 2 may bring an action against that qualified education loan servicer to recover or obtain any of the following:
1. Actual damages, but in no case shall the total award of damages be less than $500 per violation;
2. An order enjoining the methods, acts, or practices;
3. Restitution of property;
4. Punitive damages;
5. Attorney fees; and
6. Any other relief the court deems proper.
C. In addition to any other remedies provided by this section or otherwise provided by law, whenever it is proven by a preponderance of the evidence that a qualified education loan servicer has engaged in conduct that substantially interferes with a borrower's right to (i) an alternative payment arrangement; (ii) loan forgiveness, cancellation, or discharge; or (iii) any other financial benefit as established under the terms of a borrower's promissory note or under the Higher Education Act of 1965, 20 U.S.C. § 1070a et seq., as amended from time to time, and regulations promulgated thereunder, the court shall award treble actual damages to the plaintiff, but in no case shall the award of damages be less than $1,500 per violation.
D. The remedies provided in this section are not intended to be the exclusive remedies available to the qualified education loan borrower, and a qualified education loan borrower shall not be required to exhaust any administrative remedies established pursuant to this chapter or any other applicable law prior to proceeding under this section.
2020, cc. 1198, 1250.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 26 - Qualified Education Loan Servicers › § 6.2-2620. Investigating and restraining prohibited acts

A. Notwithstanding the provisions of § 59.1-199, whenever the Attorney General has reasonable cause to believe that any person has engaged in, or is engaging in, or is about to engage in any violation of this chapter, the Attorney General is empowered to issue a civil investigative demand. The provisions of § 59.1-9.10 shall apply mutatis mutandis to civil investigative demands issued pursuant to this section.
B. Notwithstanding any other provisions of law to the contrary, the Attorney General may cause an action to be brought in the appropriate circuit court in the name of the Commonwealth to enjoin any violation of this chapter. The circuit court having jurisdiction may enjoin such violations notwithstanding the existence of an adequate remedy at law. In any action under this section, it shall not be necessary that damages be proved.
C. The circuit courts are authorized to issue temporary or permanent injunctions to restrain and prevent violations of this chapter.
2020, cc. 1198, 1250.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 26 - Qualified Education Loan Servicers › § 6.2-2621. Violation of the Virginia Consumer Protection Act

Notwithstanding the provisions of § 59.1-199, any violation of the provisions of this chapter shall constitute a prohibited practice in accordance with § 59.1-200 and shall be subject to any and all of the enforcement provisions of the Virginia Consumer Protection Act (§ 59.1-196 et seq.).
2020, cc. 1198, 1250.
2023 Code of Virginia › Title 6.2 - Financial Institutions and Services › Chapter 26 - Qualified Education Loan Servicers › § 6.2-2622. Regulations

The Commission shall 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.
2020, cc. 1198, 1250.
2023 Code of Virginia › Title 8.01 - Civil Remedies and Procedure › Chapter 1 - General Provisions As to Civil Cases › § 8.01-1. How proceedings may be in actions pending when title takes effect

Except as may be otherwise provided in § 8.01-256 of Chapter 4 (§ 8.01-228 et seq.) (Limitations of Actions), all provisions of this title shall apply to causes of action which arose prior to the effective date of any such provisions; provided, however, that the applicable law in effect on the day before the effective date of the particular provisions shall apply if in the opinion of the court any particular provision (i) may materially change the substantive rights of a party (as distinguished from the procedural aspects of the remedy) or (ii) may cause the miscarriage of justice.
Code 1950, § 8-2; 1977, c. 617.
2023 Code of Virginia › Title 8.01 - Civil Remedies and Procedure › Chapter 1 - General Provisions As to Civil Cases › § 8.01-1.1. References to former sections, articles and chapters of Title 8 and other titles

Whenever in this title any of the conditions, requirements, provisions or contents of any section, article or chapter of Title 8 or any other title of this Code as such titles existed prior to October 2, 1977, are transferred in the same or in modified form to a new section, article or chapter of this title or any other title of this Code and whenever any such former section, article or chapter is given a new number in this or any other title, all references to any such former section, article or chapter of Title 8 or such other title appearing elsewhere in this Code than in this title shall be construed to apply to the new or renumbered section, article or chapter containing such conditions, requirements, provisions or contents or portions thereof.
1978, c. 422.
2023 Code of Virginia › Title 8.01 - Civil Remedies and Procedure › Chapter 1 - General Provisions As to Civil Cases › § 8.01-2. General definitions for this title

As used in this title, unless the context otherwise requires, the term:
1. "Action" and "suit" may be used interchangeably and shall include all civil proceedings whether upon claims at law, in equity, or statutory in nature and whether in circuit courts or district courts;
2. "Decree" and "judgment" may be used interchangeably and shall include orders or awards;
3. "Fiduciary" shall include any one or more of the following:
a. guardian,
b. committee,
c. trustee,
d. executor,
e. administrator, and administrator with the will annexed,
f. curator of the will of any decedent, or
g. conservator;
4. "Rendition of a judgment" means the time at which the judgment is signed and dated;
5. "Person" shall include individuals, a trust, an estate, a partnership, an association, an order, a corporation, or any other legal or commercial entity;
6. "Person under a disability" shall include:
a. a person convicted of a felony during the period he is confined;
b. an infant;
c. an incapacitated person as defined in § 64.2-2000;
d. an incapacitated ex-service person under § 64.2-2016;
e. persons made defendants by the general description of "parties unknown" in suits involving real property; or
f. any other person who, upon motion to the court by any party to an action or suit or by any person in interest, is determined to be (i) incapable of taking proper care of his person, or (ii) incapable of properly handling and managing his estate, or (iii) otherwise unable to defend his property or legal rights either because of age or temporary or permanent impairment, whether physical, mental, or both. Such impairment may also include substance abuse as defined in § 37.2-100;
7. "Sheriff" shall include deputy sheriffs and such other persons designated in § 15.2-1603;
8. "Summons" and "subpoena" may be used interchangeably and shall include a subpoena duces tecum for the production of documents and tangible things;
9. "Court of equity,""law and equity court,""law and chancery court,""chancery court," "corporation court," "the chancery side," "court exercising powers in chancery," "court with equitable jurisdiction," and "receivership court" shall mean the circuit court when entertaining equitable claims;
10. A "motion for judgment," "bill," "bill of complaint," or "bill in equity" shall mean a complaint in a civil action, as provided in the Rules of Supreme Court of Virginia;
11. "Equity practice," "equity procedure," "chancery practice," and "chancery procedure" shall mean practice and procedure in a civil action as prescribed by this Code and the Rules of Supreme Court of Virginia.
1977, c. 617; 1988, c. 37; 1997, c. 921; 2005, cc. 681, 716; 2022, c. 299.