§ 6.1-428. Fines for violations
In addition to the authority conferred under §§ 6.1-425 and 6.1-426, the Commission may impose a fine or penalty not exceeding $2,500 upon any lender or broker required to be licensed under this chapter who it determines, in proceedings commenced in accordance with the Rules of Practice and Procedure of the Commission, has violated any of the provisions of this chapter, or any other law or regulation applicable to the conduct of the lender's or broker's business. For the purposes of this section, each separate violation shall be subject to the fine or penalty herein prescribed, and each day after the date of notification, excluding Sundays and holidays, as prescribed in § 2.2-3300, that an unlicensed person engages in the business or holds himself out to the general public as a mortgage lender or mortgage broker shall constitute a separate violation.
(1987, c. 596; 1990, c. 4; 2001, c. 511; 2008, c. 863.)
Sections: Previous 6.1-422 6.1-422.1 6.1-423 6.1-423.1 6.1-423.2 6.1-424 6.1-425 6.1-425.1 6.1-425.2 6.1-426 6.1-427 6.1-428 6.1-429 6.1-430 6.1-431 NextLast modified: April 16, 2009