A. The provisions of this chapter shall not apply to any bank, savings institution, or credit union, or to a person licensed under Chapter 15 (§ 6.2-1500 et seq.), that does not elect to become licensed under this chapter. Electing to become licensed under this chapter, however, shall constitute a waiver of the benefit of any and all laws of the Commonwealth and other states, territories, possessions, and districts of the United States and federal laws preemptive of, or inconsistent with, the provisions of this chapter.
B. The provisions of this chapter shall not apply to extensions of credit for the sole purpose of financing the purchase of a motor vehicle, or of refinancing a purchase money loan, secured by a lien on the motor vehicle.
2010, c. 477, § 6.1-482.
Structure Code of Virginia
Title 6.2 - Financial Institutions and Services
Chapter 22 - Motor Vehicle Title Loans
§ 6.2-2203. Application for license; form; content; fee
§ 6.2-2205. Investigation of applications
§ 6.2-2207. Licenses; places of business; changes
§ 6.2-2208. Acquisition of control; application
§ 6.2-2209. Retention of books, accounts, and records
§ 6.2-2211. Other reporting requirements
§ 6.2-2212. Investigations; examinations
§ 6.2-2215. Required and prohibited business methods
§ 6.2-2215.1. Loan terms and conditions
§ 6.2-2216. Authorized fees and charges
§ 6.2-2216.1. Inflation adjustment of maximum monthly maintenance fee
§ 6.2-2216.2. Refinancing of motor vehicle title loan
§ 6.2-2216.3. Statement of balance due; repayment and refunds
§ 6.2-2216.4. Restriction on certain fees and charges
§ 6.2-2216.5. Verification of borrower's income
§ 6.2-2217. Limited recourse; repossession and sale of motor vehicle
§ 6.2-2219. Suspension or revocation of license
§ 6.2-2220. Cease and desist orders
§ 6.2-2221. Notice of proposed suspension or revocation
§ 6.2-2222. Fines for violations
§ 6.2-2224. Validity of noncompliant loan agreement; private right of action
§ 6.2-2225. Application of chapter to Internet loans
§ 6.2-2226. Authority of Attorney General; referral by Commission to Attorney General
§ 6.2-2227. Violation of the Virginia Consumer Protection Act