Nothing in this chapter shall be construed to prevent a person licensed under Chapter 21 (§ 54.1-2100 et seq.) of Title 54.1, or such licensee's employees or independent contractors, from performing escrow, closing, or settlement services to facilitate the settlement of a transaction in which the licensee is involved without complying with the provisions of this chapter, so long as the licensee, the licensee's employees, or independent contractors are not named as the settlement agent on the settlement statement or closing disclosure and the licensee is otherwise not prohibited from performing such services by law or regulation.
1997, c. 716, § 6.1-2.19; 1998, cc. 69, 162, 736; 1999, c. 647, § 6.1-2.30; 2010, c. 794, § 55-525.17; 2016, c. 619; 2019, c. 712.
Structure Code of Virginia
Title 55.1 - Property and Conveyances
Chapter 10 - Real Estate Settlement Agents
§ 55.1-1001. Limitation on applicability of chapter
§ 55.1-1002. Scope of chapter; lay real estate settlement agents
§ 55.1-1003. Persons who may act as a settlement agent
§ 55.1-1004. Duties of settlement agents
§ 55.1-1005. Persons prohibited from assisting or being employed by settlement agents
§ 55.1-1006. Choice of settlement agent
§ 55.1-1009. Falsifying settlement statements prohibited
§ 55.1-1010. Separate charge for reporting transactions limited
§ 55.1-1011. Record retention requirements
§ 55.1-1012. Regulations and orders
§ 55.1-1013. Accounting by title insurance companies
§ 55.1-1015. Penalties and liabilities
§ 55.1-1015.1. Civil penalties; attorney fees
§ 55.1-1016. Confidentiality of information obtained by the Commission