Code of Virginia - Title 6.1 Banking And Finance - Section 6.1-299.1 Fees for license, examination, supervision and regulation

§ 6.1-299.1. Fees for license, examination, supervision and regulation

In order to license and defray the costs of examination, supervision and regulation of licensed consumer finance offices, every licensee shall pay an annual fee to be calculated in accordance with a schedule set by the Commission. The schedule shall bear a reasonable relationship to the total assets (both loans under the Consumer Finance Act (§ 6.1-244 et seq.) and other loans) of various individual licensees and their affiliates doing business in consumer finance offices, to the actual cost of their respective examinations, and to other factors relating to their supervision and regulation. Fees shall be assessed pursuant to this section on or before May 1, 1983, for that calendar year, and on or before May 1 for every calendar year thereafter. All such fees shall be paid by the licensees to the State Treasurer on or before June 1 following each assessment.

(1982, c. 609.)

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Last modified: April 16, 2009