{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/46.2-1527.7.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/46.2-1527.7.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/46.2-1527.7.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/46.2-1527.7.html"}],"law_id":55176,"edition_id":1,"section_id":55176,"structure_id":13357,"section_number":"46.2-1527.7","catch_line":"Revocation of license or certificate of registration on payment from the Fund","history":"1994, c. 478; 1995, cc. 767, 816.","full_text":"On payment by the Board to a claimant from the Fund as provided in this article, the Board shall immediately notify the licensee or registrant in writing of the Board’s payment to the claimant and request full reimbursement be made to the Board within thirty days of the notification. Failure to reimburse the Board in full within the specified period shall cause the Board to immediately revoke the license or certificate of the dealer or the license of a salesperson whose fraud, fraudulent representation, or violation of this chapter resulted in this payment. Any person whose license or certificate is revoked shall not be eligible to apply for a license or certificate as a motor vehicle dealer or a license as a salesperson until the person has repaid in full the amount paid from the Fund on his account, plus interest at the rate of eight percent per year from the date of payment.","order_by":null,"text":{"0":{"id":202276,"text":"On payment by the Board to a claimant from the Fund as provided in this article, the Board shall immediately notify the licensee or registrant in writing of the Board’s payment to the claimant and request full reimbursement be made to the Board within thirty days of the notification. Failure to reimburse the Board in full within the specified period shall cause the Board to immediately revoke the license or certificate of the dealer or the license of a salesperson whose fraud, fraudulent representation, or violation of this chapter resulted in this payment. Any person whose license or certificate is revoked shall not be eligible to apply for a license or certificate as a motor vehicle dealer or a license as a salesperson until the person has repaid in full the amount paid from the Fund on his account, plus interest at the rate of eight percent per year from the date of payment.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13357,"edition_id":1,"name":"Motor Vehicle Transaction Recovery Fund","identifier":"3.1","label":"article","depth":4,"order_by":1,"parent_id":13356,"metadata":{},"date_created":"2026-06-26 03:44:42","date_modified":"2026-06-26 03:44:42","permalink":{"id":231229,"object_type":"structure","relational_id":13357,"identifier":"3.1","token":"46.2\/IV\/15\/3.1","url":"\/46.2\/IV\/15\/3.1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13356,"edition_id":1,"name":"Motor Vehicle Dealers","identifier":"15","label":"chapter","depth":3,"order_by":1,"parent_id":13355,"metadata":{},"date_created":"2026-06-26 03:44:42","date_modified":"2026-06-26 03:44:42","permalink":{"id":231067,"object_type":"structure","relational_id":13356,"identifier":"15","token":"46.2\/IV\/15","url":"\/46.2\/IV\/15\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13355,"edition_id":1,"name":"Dealers and Driver Training Schools","identifier":"IV","label":"subtitle","depth":2,"order_by":1,"parent_id":12770,"metadata":{},"date_created":"2026-06-26 03:44:42","date_modified":"2026-06-26 03:44:42","permalink":{"id":231065,"object_type":"structure","relational_id":13355,"identifier":"IV","token":"46.2\/IV","url":"\/46.2\/IV\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12770,"edition_id":1,"name":"Motor Vehicles","identifier":"46.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:52","date_modified":"2026-06-26 03:43:52","permalink":{"id":225289,"object_type":"structure","relational_id":12770,"identifier":"46.2","token":"46.2","url":"\/46.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":54334,"structure_id":13357,"section_number":"46.2-1527.1","catch_line":"Motor Vehicle Transaction Recovery Fund established","url":"\/46.2-1527.1\/","token":"46.2\/IV\/15\/3.1\/46.2-1527.1","metadata":false},{"id":70680,"structure_id":13357,"section_number":"46.2-1527.2","catch_line":"Bonding requirements for applicants for an original license","url":"\/46.2-1527.2\/","token":"46.2\/IV\/15\/3.1\/46.2-1527.2","metadata":false},{"id":74246,"structure_id":13357,"section_number":"46.2-1527.3","catch_line":"Recovery from Fund, generally","url":"\/46.2-1527.3\/","token":"46.2\/IV\/15\/3.1\/46.2-1527.3","metadata":false},{"id":82456,"structure_id":13357,"section_number":"46.2-1527.4","catch_line":"Opportunity to intervene","url":"\/46.2-1527.4\/","token":"46.2\/IV\/15\/3.1\/46.2-1527.4","metadata":false},{"id":77640,"structure_id":13357,"section_number":"46.2-1527.5","catch_line":"Limitations on recovery from Fund","url":"\/46.2-1527.5\/","token":"46.2\/IV\/15\/3.1\/46.2-1527.5","metadata":false},{"id":63395,"structure_id":13357,"section_number":"46.2-1527.6","catch_line":"Assignment of claimant's rights to the Board; payment of claims","url":"\/46.2-1527.6\/","token":"46.2\/IV\/15\/3.1\/46.2-1527.6","metadata":false},{"id":55176,"structure_id":13357,"section_number":"46.2-1527.7","catch_line":"Revocation of license or certificate of registration on payment from the Fund","url":"\/46.2-1527.7\/","token":"46.2\/IV\/15\/3.1\/46.2-1527.7","metadata":false},{"id":55651,"structure_id":13357,"section_number":"46.2-1527.8","catch_line":"No waiver by the Board of disciplinary action against licensee or registrant","url":"\/46.2-1527.8\/","token":"46.2\/IV\/15\/3.1\/46.2-1527.8","metadata":false}],"previous_section":{"id":63395,"structure_id":13357,"section_number":"46.2-1527.6","catch_line":"Assignment of claimant's rights to the Board; payment of claims","url":"\/46.2-1527.6\/","token":"46.2\/IV\/15\/3.1\/46.2-1527.6","metadata":false},"next_section":{"id":55651,"structure_id":13357,"section_number":"46.2-1527.8","catch_line":"No waiver by the Board of disciplinary action against licensee or registrant","url":"\/46.2-1527.8\/","token":"46.2\/IV\/15\/3.1\/46.2-1527.8","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/46.2-1527.7\/","history_text":"

This law was first created in 1994. The record of its establishment is cataloged in chapter 478<\/a> 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. It has been modified 1 time. 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. That modification is as follows: in 1995, chapters 767<\/a> and 816<\/a>.<\/p>","references":[{"id":71786,"section_number":"46.2-1576","catch_line":"Suspension, revocation, and refusal to renew licenses or certificates of dealer registration or qualification; notice and hearing","order_by":null,"url":"\/46.2-1576\/"}],"refers_to":false,"permalink":{"id":231255,"object_type":"law","relational_id":55176,"identifier":"46.2-1527.7","token":"46.2\/IV\/15\/3.1\/46.2-1527.7","url":"\/46.2-1527.7\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/46.2-1527.7\/","token":"46.2\/IV\/15\/3.1\/46.2-1527.7","dublin_core":{"Title":"Revocation of license or certificate of registration on payment from the Fund","Type":"Text","Format":"text\/html","Identifier":"\u00a7 46.2-1527.7","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

On payment by the Board<\/span> to a claimant from the Fund<\/span> as provided in this article, the Board<\/span> shall immediately notify the licensee or registrant in writing of the Board<\/span>’s payment to the claimant and request full reimbursement be made to the Board<\/span> within thirty days of the notification. Failure to reimburse the Board<\/span> in full within the specified period shall cause the Board<\/span> to immediately revoke<\/span> the license or certificate of the dealer or the license of a salesperson<\/span> whose fraud<\/span>, fraudulent representation, or violation of this chapter resulted in this payment. Any person whose license or certificate is revoked shall not be eligible to apply for a license or certificate as a motor vehicle dealer<\/span> or a license as a salesperson<\/span> until the person has repaid in full the amount paid from the Fund<\/span> on his account, plus interest at the rate of eight percent per year from the date of payment.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nREVOCATION OF LICENSE OR CERTIFICATE OF REGISTRATION ON PAYMENT FROM THE FUND\n(\u00a7 46.2-1527.7)\n\nOn payment by the Board to a claimant from the Fund as provided in this article,\nthe Board shall immediately notify the licensee or registrant in writing of the\nBoard’s payment to the claimant and request full reimbursement be made to\nthe Board within thirty days of the notification. Failure to reimburse the Board\nin full within the specified period shall cause the Board to immediately revoke\nthe license or certificate of the dealer or the license of a salesperson whose\nfraud, fraudulent representation, or violation of this chapter resulted in this\npayment. Any person whose license or certificate is revoked shall not be\neligible to apply for a license or certificate as a motor vehicle dealer or a\nlicense as a salesperson until the person has repaid in full the amount paid\nfrom the Fund on his account, plus interest at the rate of eight percent per\nyear from the date of payment.\n\nHISTORY: 1994, c. 478; 1995, cc. 767, 816.","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}}