Code of Virginia - Title 6.1 Banking And Finance - Chapter 10.2 Credit Counseling Act

  • 6.1-363.2 Definitions
    As used in this chapter, unless the context clearly requires a different meaning: "Bureau" means the Bureau of Financial Institutions. "Commissioner" means the Commissioner of ...
  • 6.1-363.3 License requirement; exceptions
    A. No person shall engage in the business of providing or offering to provide a DMP to any consumer residing in the Commonwealth, whether or ...
  • 6.1-363.4 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. ...
  • 6.1-363.5 Bond required
    The application for a license shall also be accompanied by a bond filed with the Commissioner with corporate surety authorized to execute such bond in ...
  • 6.1-363.6 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 ...
  • 6.1-363.7 Qualifications
    A. Upon the filing and investigation of an application for a license, and compliance by the applicant with the provisions of §§ 6.1-363.4 and 6.1-363.5, ...
  • 6.1-363.8 Licenses; places of business; changes
    A. Each license shall state the address or addresses at which the business is to be conducted and shall state fully the legal name of ...
  • 6.1-363.9 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 ...
  • 6.1-363.10 Retention of books, accounts, and records; responding to Bureau
    A. Every licensee shall maintain in its licensed offices such books, accounts, and records as the Commission may reasonably require in order to determine whether ...
  • 6.1-363.11 Annual report
    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 ...
  • 6.1-363.12 Other 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 ...
  • 6.1-363.13 Investigations; examinations
    The Commission may, by its designated officers and employees, as often as it deems necessary, investigate and examine the affairs, business, premises, and records of ...
  • 6.1-363.14 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 ...
  • 6.1-363.15 Rules and regulations
    The Commission shall promulgate such rules and regulations as it deems appropriate to effect the purposes of this chapter. Before promulgating any such regulation, the ...
  • 6.1-363.16 Required and prohibited business methods
    Each licensee shall comply with the following requirements: 1. Each DMP shall be evidenced by an agreement, which shall be maintained in either a hard ...
  • 6.1-363.17 Fees and contributions
    For establishing and maintaining a DMP, a licensee may charge or receive fees or contributions in an amount not to exceed the following: (i) $75 ...
  • 6.1-363.18 Additional charges
    In addition to the fees and contributions permitted under § 6.1-363.17, no further or other amount whatsoever shall be directly or indirectly charged, contracted for, ...
  • 6.1-363.19 Advertising
    No person licensed or required to be licensed under this chapter shall use or cause to be published any advertisement that (i) contains any false, ...
  • 6.1-363.20 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 ...
  • 6.1-363.21 Cease and desist orders
    A. If the Commission determines that any person has violated any provision of this chapter or any regulation adopted hereunder, the Commission may, upon 21 ...
  • 6.1-363.22 Notice of proposed suspension or revocation
    The Commission shall not revoke or suspend the license of any person licensed under this chapter upon any of the grounds set forth in § ...
  • 6.1-363.23 Fines for violations
    A. In addition to the authority conferred under §§ 6.1-363.20 and 6.1-363.21, the Commission may impose a fine or penalty not exceeding $1,000 upon any ...
  • 6.1-363.24 Private right of action
    Any person who suffers loss by reason of a violation of any provision of this chapter may bring a civil action to enforce such provision. ...
  • 6.1-363.25 Authority of Attorney General; referral by Commission to Attorney General
    A. If the Commission determines that a person is in violation, or has violated, any provision of this chapter, the Commission may refer the information ...
  • 6.1-363.26 Violation of the Virginia Consumer Protection Act
    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 ...

Last modified: April 2, 2009