A. If any amount not authorized by this chapter or in excess of the charges permitted by this chapter is charged and received by a licensee, such unauthorized or excess charge actually received by a licensee shall be refunded to the borrower or credited to the borrower's account.
B. Except for excess charges charged and received as the result of a bona fide error of computation that was not made pursuant to a regular course of dealing, the licensee shall be liable to the borrower for a penalty of twice the amount of any unauthorized or excess charge actually received by the licensee and for any court costs and reasonable attorney fees incurred by the borrower.
Code 1950, § 6-338; 1956, c. 71; 1966, c. 584, § 6.1-309; 1976, c. 658; 1986, c. 502; 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