Any person engaging in the business of financing insurance premiums in this Commonwealth without obtaining a license as required under this chapter shall be subject to a fine of not more than $100 for each day that person operates without a license. The fine shall be imposed and judgment entered by the Commission after ten days' notice has been given to the defendant by rule to show cause.
1964, c. 147, § 38.1-744; 1986, c. 562.
Structure Code of Virginia
Chapter 47 - Insurance Premium Finance Companies
§ 38.2-4700. What persons deemed insurance premium finance companies
§ 38.2-4701. License required; application; fee
§ 38.2-4702. Investigation of applicant; issuance of license
§ 38.2-4703. Renewal of license
§ 38.2-4704. Suspension, revocation or failure to renew license; imposition of penalty
§ 38.2-4705. Maximum interest rate and maximum service charge on premium finance agreement
§ 38.2-4706. Default charge; bad check charge
§ 38.2-4709. Disposition of license and other fees
§ 38.2-4710. Penalty for engaging in business without license