§ 55.1-907 Penalty
Any persons suffering losses due to the failure of the lender or the settlement agent to cause disbursement as required by this chapter shall be entitled to recover, in addition to other actual damages, double the amount of any interest collected in violation of § 55.1-902 plus reasonable attorney fees incurred in the collection of such damages and interest.
History
This law was first created in 1980. The record of its establishment is cataloged in chapter 730 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1980 “Acts” aren’t available online. It has been modified 2 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 2010, chapter 794; in 2019, chapter 712.
1980, c. 730, § 6.1-2.15; 2010, c. 794, § 55-525.15; 2019, c. 712.