A. No person doing business under the authority of any law of the Commonwealth or of the United States relating to banks, savings institutions, trust companies, building and loan associations, industrial loan associations, or credit unions shall be eligible for licensure under this chapter.
B. Nothing contained in subsection A or any other section of this title shall be construed to prevent a subsidiary of a bank or savings institution from becoming a licensee under this chapter. A licensee that is a subsidiary or affiliate of a bank or savings institution shall be governed by the provisions of this chapter, and all regulations adopted hereunder, as fully as if such licensee were not such a subsidiary or affiliate.
Code 1950, § 6-280; 1966, c. 584, § 6.1-250; 1996, c. 16; 2000, c. 192; 2010, c. 794.
Structure Code of Virginia
Title 6.2 - Financial Institutions and Services
Chapter 15 - Consumer Finance Companies
§ 6.2-1501. Compliance with chapter; license required; attempts to evade application of chapter
§ 6.2-1502. Certain persons ineligible as licensees; exception for subsidiaries
§ 6.2-1504. Restrictions on name
§ 6.2-1505. Application for license; application fee
§ 6.2-1506. Investigation of application
§ 6.2-1507. Issuance of license
§ 6.2-1508. Notices to Commission
§ 6.2-1508.1. Additional offices; relocation of offices
§ 6.2-1509. Contents, posting, transfer, and duration of license
§ 6.2-1510. Acquisition of control; application
§ 6.2-1511. Revocation of license
§ 6.2-1512. Suspension of license
§ 6.2-1513. Record and notice of revocation or suspension
§ 6.2-1514. Surrender of license
§ 6.2-1515. Effect of license revocation, suspension, or surrender
§ 6.2-1516. Reinstatement of license
§ 6.2-1517. Place of business generally
§ 6.2-1518. Notice of conduct of other business in same place of business; fee
§ 6.2-1519. Changing place of business
§ 6.2-1520. Rate of interest; late charges; processing fees
§ 6.2-1521. Post-judgment charges
§ 6.2-1522. Other limitations on interest
§ 6.2-1523. Additional charges prohibited; exceptions
§ 6.2-1523.2. Application of chapter to Internet loans
§ 6.2-1524. Required and prohibited activities and conduct
§ 6.2-1527. Liens on household furniture
§ 6.2-1528. Exemptions unimpaired
§ 6.2-1529. Collection of loans made outside Commonwealth
§ 6.2-1530. Investigations; immunities
§ 6.2-1532. Fees for examination, supervision and regulation
§ 6.2-1533. Books, accounts, and records; pledge or deposit of notes and securities
§ 6.2-1535. Regulations and orders
§ 6.2-1536. Disclosures in connection with sale of securities
§ 6.2-1537. Authority of Attorney General; impoundment of property and receivership
§ 6.2-1538. Copies of orders or licenses
§ 6.2-1539. Review by Commission
§ 6.2-1540. Criminal penalties
§ 6.2-1541. Unlawful contracts void; recovery of amounts paid
§ 6.2-1542. Duty to refund unauthorized or excess charges; liability to borrower for penalty