{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/13.1-504.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/13.1-504.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/13.1-504.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/13.1-504.html"}],"law_id":77849,"edition_id":1,"section_id":77849,"structure_id":13120,"section_number":"13.1-504","catch_line":"Registration","history":"1956, c. 428; 1974, cc. 374, 479; 1979, c. 312; 1982, c. 407; 1987, c. 678; 1991, cc. 223, 281, 418; 1997, c. 279; 1998, cc. 22, 255; 2003, c. 595; 2007, c. 458.","full_text":"A\n\nIt shall be unlawful for any person to transact business in this Commonwealth as (i) a broker-dealer or an agent, except in transactions exempted by subsection B of § 13.1-514, unless he is so registered under this chapter; (ii) an investment advisor or investment advisor representative unless he is so registered under this chapter; or (iii) a federal covered advisor unless he has filed such documents and paid such fee as the Commission by rule or order may require.B\n\nThe registration of an agent shall be deemed effective only so long as he is connected with a specified broker-dealer registered under this chapter or a specified issuer. When an agent begins or terminates a connection with a broker-dealer or issuer, both the agent and the broker-dealer or issuer shall promptly notify the Commission. An agent who changes his connection from one broker-dealer or issuer to another shall be required to file a new application for registration and pay the necessary fee in accordance with § 13.1-505. It shall be unlawful for any broker-dealer or issuer to employ an unregistered agent. No agent shall be employed by more than one broker-dealer or issuer, except pursuant to such rules or regulations as the Commission shall prescribe.C\n\nThe registration of an investment advisor representative shall be deemed effective only so long as he is connected with an investment advisor registered under this chapter or a federal covered advisor. When an investment advisor representative begins or terminates a connection with an investment advisor, the investment advisor shall promptly notify the Commission. When an investment advisor representative begins or terminates a connection with a federal covered advisor, the investment advisor representative shall promptly notify the Commission. An investment advisor representative who changes his connection from one investment advisor or federal covered advisor to another shall be required to file a new application for registration and pay the necessary fee in accordance with § 13.1-505. It shall be unlawful for (i) any person who is required to be registered as an investment advisor under this chapter to employ an unregistered investment advisor representative or (ii) a federal covered advisor to employ, supervise, or associate with an unregistered investment advisor representative having a place of business in the Commonwealth. No investment advisor representative shall be employed by more than one investment advisor or federal covered advisor except pursuant to such rules or regulations as the Commission shall prescribe.","order_by":null,"text":{"0":{"id":279204,"text":"It shall be unlawful for any person to transact business in this Commonwealth as (i) a broker-dealer or an agent, except in transactions exempted by subsection B of § 13.1-514, unless he is so registered under this chapter; (ii) an investment advisor or investment advisor representative unless he is so registered under this chapter; or (iii) a federal covered advisor unless he has filed such documents and paid such fee as the Commission by rule or order may require.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":279205,"text":"The registration of an agent shall be deemed effective only so long as he is connected with a specified broker-dealer registered under this chapter or a specified issuer. When an agent begins or terminates a connection with a broker-dealer or issuer, both the agent and the broker-dealer or issuer shall promptly notify the Commission. An agent who changes his connection from one broker-dealer or issuer to another shall be required to file a new application for registration and pay the necessary fee in accordance with § 13.1-505. It shall be unlawful for any broker-dealer or issuer to employ an unregistered agent. No agent shall be employed by more than one broker-dealer or issuer, except pursuant to such rules or regulations as the Commission shall prescribe.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":279206,"text":"The registration of an investment advisor representative shall be deemed effective only so long as he is connected with an investment advisor registered under this chapter or a federal covered advisor. When an investment advisor representative begins or terminates a connection with an investment advisor, the investment advisor shall promptly notify the Commission. When an investment advisor representative begins or terminates a connection with a federal covered advisor, the investment advisor representative shall promptly notify the Commission. An investment advisor representative who changes his connection from one investment advisor or federal covered advisor to another shall be required to file a new application for registration and pay the necessary fee in accordance with § 13.1-505. It shall be unlawful for (i) any person who is required to be registered as an investment advisor under this chapter to employ an unregistered investment advisor representative or (ii) a federal covered advisor to employ, supervise, or associate with an unregistered investment advisor representative having a place of business in the Commonwealth. No investment advisor representative shall be employed by more than one investment advisor or federal covered advisor except pursuant to such rules or regulations as the Commission shall prescribe.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":13120,"edition_id":1,"name":"Brokers-Dealers, Investment Advisors, Investment Advisor Representatives and Agents","identifier":"3","label":"article","depth":3,"order_by":1,"parent_id":13119,"metadata":{},"date_created":"2026-06-26 03:44:18","date_modified":"2026-06-26 03:44:18","permalink":{"id":149821,"object_type":"structure","relational_id":13120,"identifier":"3","token":"13.1\/5\/3","url":"\/13.1\/5\/3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13119,"edition_id":1,"name":"Securities Act","identifier":"5","label":"chapter","depth":2,"order_by":1,"parent_id":12744,"metadata":{},"date_created":"2026-06-26 03:44:18","date_modified":"2026-06-26 03:44:18","permalink":{"id":149803,"object_type":"structure","relational_id":13119,"identifier":"5","token":"13.1\/5","url":"\/13.1\/5\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12744,"edition_id":1,"name":"Corporations","identifier":"13.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":147493,"object_type":"structure","relational_id":12744,"identifier":"13.1","token":"13.1","url":"\/13.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":77849,"structure_id":13120,"section_number":"13.1-504","catch_line":"Registration","url":"\/13.1-504\/","token":"13.1\/5\/3\/13.1-504","metadata":false},{"id":57117,"structure_id":13120,"section_number":"13.1-504.1","catch_line":"Brokerage services of savings and loan associations, savings banks or service corporations of either; when registration not required","url":"\/13.1-504.1\/","token":"13.1\/5\/3\/13.1-504.1","metadata":false},{"id":54154,"structure_id":13120,"section_number":"13.1-504.2","catch_line":"Broker-dealer services provided by credit unions; when registration not required","url":"\/13.1-504.2\/","token":"13.1\/5\/3\/13.1-504.2","metadata":false},{"id":79578,"structure_id":13120,"section_number":"13.1-505","catch_line":"Procedure for registration","url":"\/13.1-505\/","token":"13.1\/5\/3\/13.1-505","metadata":false},{"id":81968,"structure_id":13120,"section_number":"13.1-505.1","catch_line":"Post-registration provisions","url":"\/13.1-505.1\/","token":"13.1\/5\/3\/13.1-505.1","metadata":false},{"id":57975,"structure_id":13120,"section_number":"13.1-506","catch_line":"Revocation of registration","url":"\/13.1-506\/","token":"13.1\/5\/3\/13.1-506","metadata":false}],"next_section":{"id":57117,"structure_id":13120,"section_number":"13.1-504.1","catch_line":"Brokerage services of savings and loan associations, savings banks or service corporations of either; when registration not required","url":"\/13.1-504.1\/","token":"13.1\/5\/3\/13.1-504.1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/13.1-504\/","history_text":"

This law was first created in 1956. The record of its establishment is cataloged in chapter 428 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1956 \u201cActs\u201d aren\u2019t available online. It has been modified 9 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1974, chapters 374 and 479; in 1979, chapter 312; in 1982, chapter 407; in 1987, chapter 678; in 1991, chapters 223, 281, and 418; in 1997, chapter 279<\/a>; in 1998, chapters 22<\/a> and 255<\/a>; in 2003, chapter 595<\/a>; in 2007, chapter 458<\/a>.<\/p>","references":[{"id":64194,"section_number":"13.1-522","catch_line":"Civil liabilities","order_by":null,"url":"\/13.1-522\/"},{"id":54316,"section_number":"38.2-5016","catch_line":"Board of directors; appointment; vacancies; term; list of Program claimants","order_by":null,"url":"\/38.2-5016\/"}],"refers_to":[{"id":79578,"section_number":"13.1-505","catch_line":"Procedure for registration","order_by":null,"url":"\/13.1-505\/"},{"id":81002,"section_number":"13.1-514","catch_line":"Exemptions","order_by":null,"url":"\/13.1-514\/"}],"permalink":{"id":149823,"object_type":"law","relational_id":77849,"identifier":"13.1-504","token":"13.1\/5\/3\/13.1-504","url":"\/13.1-504\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/13.1-504\/","token":"13.1\/5\/3\/13.1-504","dublin_core":{"Title":"Registration","Type":"Text","Format":"text\/html","Identifier":"\u00a7 13.1-504","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> It shall be unlawful for any person to transact business in this Commonwealth as (i) a broker-dealer or an agent, except in transactions exempted by subsection B of § 13.1-514<\/a>, unless he is so registered under this chapter; (ii) an investment advisor or investment advisor representative unless he is so registered under this chapter; or (iii) a federal covered advisor unless he has filed such documents and paid such fee as the Commission by rule or order<\/span> may require. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The registration of an agent shall be deemed effective only so long as he is connected with a specified broker-dealer registered under this chapter or a specified issuer. When an agent begins or terminates a connection with a broker-dealer or issuer, both the agent and the broker-dealer or issuer shall promptly notify the Commission. An agent who changes his connection from one broker-dealer or issuer to another shall be required to file a new application for registration and pay the necessary fee in accordance with § 13.1-505<\/a>. It shall be unlawful for any broker-dealer or issuer to employ an unregistered agent. No agent shall be employed by more than one broker-dealer or issuer, except pursuant to such rules or regulations as the Commission shall prescribe. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The registration of an investment advisor representative shall be deemed effective only so long as he is connected with an investment advisor registered under this chapter or a federal covered advisor. When an investment advisor representative begins or terminates a connection with an investment advisor, the investment advisor shall promptly notify the Commission. When an investment advisor representative begins or terminates a connection with a federal covered advisor, the investment advisor representative shall promptly notify the Commission. An investment advisor representative who changes his connection from one investment advisor or federal covered advisor to another shall be required to file a new application for registration and pay the necessary fee in accordance with § 13.1-505<\/a>. It shall be unlawful for (i) any person who is required to be registered as an investment advisor under this chapter to employ an unregistered investment advisor representative or (ii) a federal covered advisor to employ, supervise, or associate with an unregistered investment advisor representative having a place of business in the Commonwealth. No investment advisor representative shall be employed by more than one investment advisor or federal covered advisor except pursuant to such rules or regulations as the Commission shall prescribe. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nREGISTRATION (\u00a7 13.1-504)\n\nA. It shall be unlawful for any person to transact business in this Commonwealth\nas (i) a broker-dealer or an agent, except in transactions exempted by\nsubsection B of § 13.1-514, unless he is so registered under this chapter;\n(ii) an investment advisor or investment advisor representative unless he is so\nregistered under this chapter; or (iii) a federal covered advisor unless he has\nfiled such documents and paid such fee as the Commission by rule or order may\nrequire.\n\nB. The registration of an agent shall be deemed effective only so long as he is\nconnected with a specified broker-dealer registered under this chapter or a\nspecified issuer. When an agent begins or terminates a connection with a\nbroker-dealer or issuer, both the agent and the broker-dealer or issuer shall\npromptly notify the Commission. An agent who changes his connection from one\nbroker-dealer or issuer to another shall be required to file a new application\nfor registration and pay the necessary fee in accordance with § 13.1-505.\nIt shall be unlawful for any broker-dealer or issuer to employ an unregistered\nagent. No agent shall be employed by more than one broker-dealer or issuer,\nexcept pursuant to such rules or regulations as the Commission shall prescribe.\n\nC. The registration of an investment advisor representative shall be deemed\neffective only so long as he is connected with an investment advisor registered\nunder this chapter or a federal covered advisor. When an investment advisor\nrepresentative begins or terminates a connection with an investment advisor, the\ninvestment advisor shall promptly notify the Commission. When an investment\nadvisor representative begins or terminates a connection with a federal covered\nadvisor, the investment advisor representative shall promptly notify the\nCommission. An investment advisor representative who changes his connection from\none investment advisor or federal covered advisor to another shall be required\nto file a new application for registration and pay the necessary fee in\naccordance with § 13.1-505. It shall be unlawful for (i) any person who is\nrequired to be registered as an investment advisor under this chapter to employ\nan unregistered investment advisor representative or (ii) a federal covered\nadvisor to employ, supervise, or associate with an unregistered investment\nadvisor representative having a place of business in the Commonwealth. No\ninvestment advisor representative shall be employed by more than one investment\nadvisor or federal covered advisor except pursuant to such rules or regulations\nas the Commission shall prescribe.\n\nHISTORY: 1956, c. 428; 1974, cc. 374, 479; 1979, c. 312; 1982, c. 407; 1987, c.\n678; 1991, cc. 223, 281, 418; 1997, c. 279; 1998, cc. 22, 255; 2003, c. 595;\n2007, c. 458.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}