§ 6.1-309. Penalty for violation of chapter, regulation or order of Commission by licensee
A. If any amount other than or in excess of the charges permitted by this chapter is charged and received by a licensee, such excess charge actually received by a licensee shall be refunded to the borrower or credited to the borrower's account. In addition, except as the result of a bona fide error of computation which was not made pursuant to a regular course of dealing, the licensee shall be liable to the borrower for a penalty of twice the amount of such excess charge actually received by the licensee and for any court costs and reasonable attorney's fees incurred by the borrower.
B. Any licensee violating any provision of this chapter or of any regulation or order of the Commission, either knowingly or without the exercise of due care to prevent the violation, shall be subject to a fine, to be imposed by the Commission, of not more than $10,000. In any proceeding under this subsection, no licensee shall be penalized for any act or omission done in reasonable reliance on any regulation, order, letter or other written directive or request of the Commission.
(Code 1950, § 6-338; 1956, c. 71; 1966, c. 584; 1976, c. 658; 1986, c. 502.)
Sections: Previous 6.1-297 6.1-298 6.1-299 6.1-299.1 6.1-300 6.1-301 6.1-302 6.1-303 6.1-304 6.1-305 6.1-306 6.1-307 6.1-308 6.1-309 6.1-310 NextLast modified: April 2, 2009