Code of Virginia - Title 6.1 Banking And Finance - Chapter 12 Money Order Sales And Money Transmission Services
- 6.1-370 Definitions
As used in this chapter: "Monetary value" means a medium of exchange, whether or not redeemable in money. "Money order" means a check, traveler's check, ...
- 6.1-371 License required; exceptions
No person, firm, corporation or other entity shall engage in the business of selling money orders or, on or after January 1, 1995, engage in ...
- 6.1-372 Same; application; balance sheet required; filing fee; surety bond
A. Applications for a license shall be made on forms furnished by the Commission and shall set forth the name and address of the applicant, ...
- 6.1-373 Same; annual fee; renewal
If a license is denied, the filing fee shall not be refunded. If a license is issued, the filing fee shall constitute the license fee ...
- 6.1-374 License required; conditions prerequisite to issuance; revocation for inability to meet obligations...
A. The Commission shall not issue a license unless it is of the opinion that the applicant will be able to and will perform its ...
- 6.1-375 Selling without license; examination of books by Commission; 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 ...
- 6.1-376 Description unavailable
Repealed by Acts 1994, c. 889. ...
- 6.1-377 License not required of agents of licensee
A licensee may conduct its business through or by means of such agents as the licensee may designate or appoint. No license under this chapter ...
- 6.1-378 Liability of licensee for payment; negotiable instruments law applicable; money order to bear name ...
A licensee shall be liable for the payment of all money orders which it sells, in whatever form and whether directly or through an agent, ...
- 6.1-378.1 Rules and regulations
The Commission may promulgate such rules and regulations as it deems appropriate to effect the purposes of this chapter. Before promulgating any such regulation, the ...
- 6.1-378.2 Acquisition of control; application
A. Except as provided in this section, no person shall acquire directly or indirectly twenty-five percent or more of the voting shares of a corporation ...
- 6.1-378.3 Sale or issuance of bearer money orders; prohibition
A. No agent of a licensee shall sell a money order with a face amount of $750 or more that does not designate a specific ...
- 6.1-378.4 Civil penalties
In addition to the authority conferred under § 6.1-374, the Commission may impose a penalty not exceeding $1,000 upon any person licensed or required to ...
- 6.1-379 Description unavailable
Repealed by Acts 1990, c. 259. ...
- 6.1-380 Description unavailable
Repealed by Acts 1987, c. 283. ...
Last modified: April 2, 2009