An application for a license under this chapter shall be accompanied by a bond filed with the Commissioner with corporate surety authorized to execute such bond in the Commonwealth, in the sum of $25,000, or such greater sum as the Commission may require, but not to exceed a total of $500,000. The form of such bond shall be approved by the Commission. Such bond shall be continuously maintained thereafter in full force. Such bond shall be conditioned upon the applicant or licensee performing all written agreements with borrowers or prospective borrowers, correctly and accurately accounting for all funds received by it in its licensed business, and conducting its licensed business in conformity with this chapter and all applicable laws. Any person who may be damaged by noncompliance of the licensee with any condition of such bond may proceed on such bond against the principal or surety thereon, or both, to recover damages. The aggregate liability under the bond shall not exceed the penal sum of the bond.
2020, cc. 1215, 1258.
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