§ 6.2-1617 Application to certain real estate brokers
The provisions of this chapter shall not be construed to prohibit a real estate broker, as defined in § 54.1-2100, who is either an owner of an interest in a real estate firm or acts as a real estate broker in a sole proprietorship, from:
1. Having an ownership interest in a mortgage broker or mortgage lender;
2. Receiving returns on investment arising from the real estate broker’s ownership interest in a mortgage broker or mortgage lender; or
3. Receiving payment of compensation for services actually performed for a mortgage broker or mortgage lender in which the real estate broker has an ownership interest.
History
This law was first created in 1987. The record of its establishment is cataloged in chapter 596 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 1987 “Acts” aren’t available online. It has been modified 6 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 1989, chapter 667; in 1993, chapter 183; in 1997, chapter 228; in 2001, chapters 502 and 511; in 2009, chapters 189 and 261; in 2010, chapter 794.
1987, c. 596, § 6.1-422; 1989, c. 667; 1993, c. 183; 1997, c. 228; 2001, cc. 502, 511; 2009, cc. 189, 261; 2010, c. 794.