{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/55.1-907.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/55.1-907.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/55.1-907.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/55.1-907.html"}],"law_id":81795,"edition_id":1,"section_id":81795,"structure_id":14903,"section_number":"55.1-907","catch_line":"Penalty","history":"1980, c. 730, \u00a7 6.1-2.15; 2010, c. 794, \u00a7 55-525.15; 2019, c. 712.","full_text":"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 \u00a7 55.1-902 plus reasonable attorney fees incurred in the collection of such damages and interest.","order_by":null,"text":{"0":{"id":293088,"text":"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 \u00a7 55.1-902 plus reasonable attorney fees incurred in the collection of such damages and interest.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":14903,"edition_id":1,"name":"Real Estate Settlements","identifier":"9","label":"chapter","depth":3,"order_by":1,"parent_id":13524,"metadata":{},"date_created":"2026-06-26 03:50:41","date_modified":"2026-06-26 03:50:41","permalink":{"id":245849,"object_type":"structure","relational_id":14903,"identifier":"9","token":"55.1\/II\/9","url":"\/55.1\/II\/9\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13524,"edition_id":1,"name":"Real Estate Settlements and Recordation","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12707,"metadata":{},"date_created":"2026-06-26 03:45:07","date_modified":"2026-06-26 03:45:07","permalink":{"id":245369,"object_type":"structure","relational_id":13524,"identifier":"II","token":"55.1\/II","url":"\/55.1\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12707,"edition_id":1,"name":"Property and Conveyances","identifier":"55.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":244769,"object_type":"structure","relational_id":12707,"identifier":"55.1","token":"55.1","url":"\/55.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":79247,"structure_id":14903,"section_number":"55.1-900","catch_line":"Definitions","url":"\/55.1-900\/","token":"55.1\/II\/9\/55.1-900","metadata":false},{"id":84919,"structure_id":14903,"section_number":"55.1-901","catch_line":"Applicability; effect of noncompliance","url":"\/55.1-901\/","token":"55.1\/II\/9\/55.1-901","metadata":false},{"id":63887,"structure_id":14903,"section_number":"55.1-902","catch_line":"Duty of lender","url":"\/55.1-902\/","token":"55.1\/II\/9\/55.1-902","metadata":false},{"id":67904,"structure_id":14903,"section_number":"55.1-903","catch_line":"Duty of settlement agent","url":"\/55.1-903\/","token":"55.1\/II\/9\/55.1-903","metadata":false},{"id":62791,"structure_id":14903,"section_number":"55.1-904","catch_line":"Repealed","url":"\/55.1-904\/","token":"55.1\/II\/9\/55.1-904","metadata":false},{"id":74930,"structure_id":14903,"section_number":"55.1-905","catch_line":"Disclosure of affiliated business by settlement service providers","url":"\/55.1-905\/","token":"55.1\/II\/9\/55.1-905","metadata":false},{"id":56898,"structure_id":14903,"section_number":"55.1-906","catch_line":"Disclosure of charges for appraisal or valuation using automated or other valuation mechanism","url":"\/55.1-906\/","token":"55.1\/II\/9\/55.1-906","metadata":false},{"id":81795,"structure_id":14903,"section_number":"55.1-907","catch_line":"Penalty","url":"\/55.1-907\/","token":"55.1\/II\/9\/55.1-907","metadata":false}],"previous_section":{"id":56898,"structure_id":14903,"section_number":"55.1-906","catch_line":"Disclosure of charges for appraisal or valuation using automated or other valuation mechanism","url":"\/55.1-906\/","token":"55.1\/II\/9\/55.1-906","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-907\/","history_text":"

This law was first created in 1980. The record of its establishment is cataloged in chapter 730 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 1980 \u201cActs\u201d aren\u2019t available online. It has been modified 2 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 2010, chapter 794<\/a>; in 2019, chapter 712<\/a>.<\/p>","references":false,"refers_to":[{"id":63887,"section_number":"55.1-902","catch_line":"Duty of lender","order_by":null,"url":"\/55.1-902\/"}],"permalink":{"id":245879,"object_type":"law","relational_id":81795,"identifier":"55.1-907","token":"55.1\/II\/9\/55.1-907","url":"\/55.1-907\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/55.1-907\/","token":"55.1\/II\/9\/55.1-907","dublin_core":{"Title":"Penalty","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-907","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Any persons suffering losses due to the failure of the lender<\/span> or the settlement agent<\/span> to cause disbursement as required by this chapter shall be entitled to recover, in addition to other actual damages<\/span>, double the amount of any interest collected in violation of \u00a7 55.1-902<\/a> plus reasonable attorney fees incurred in the collection of such damages<\/span> and interest.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPENALTY (\u00a7 55.1-907)\n\nAny persons suffering losses due to the failure of the lender or the settlement\nagent to cause disbursement as required by this chapter shall be entitled to\nrecover, in addition to other actual damages, double the amount of any interest\ncollected in violation of \u00a7 55.1-902 plus reasonable attorney fees incurred in\nthe collection of such damages and interest.\n\nHISTORY: 1980, c. 730, \u00a7 6.1-2.15; 2010, c. 794, \u00a7 55-525.15; 2019, c. 712.","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}}