{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1916.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1916.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1916.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1916.html"}],"law_id":83704,"edition_id":1,"section_id":83704,"structure_id":13061,"section_number":"6.2-1916","catch_line":"(Repealed effective July 1, 2026) Retention of books, accounts, and records","history":"2009, c. 346, \u00a7 6.1-378.5; 2010, c. 794; 2014, c. 454; 2025, c. 214.","full_text":"A\n\nEvery licensee shall maintain in its principal place of business such books, accounts, and records as the Commission may reasonably require in order to determine whether such licensee is complying with the provisions of this chapter and other laws applicable to the conduct of its licensed business. Such books, accounts, and records shall be maintained apart and separate from any other business in which the licensee is involved.B\n\nEach licensee shall retain the following records for at least three years:1\n\nA record of each money transmission transaction and money order sold;2\n\nA general ledger posted at least monthly containing all asset, liability, capital, income, and expense accounts;3\n\nBank statements and bank reconciliation records;4\n\nRecords of outstanding money orders and money transmission transactions;5\n\nRecords of each money order and money transmission transaction paid or completed within the three-year period; and6\n\nA list of the names, addresses, and telephone numbers of all of the licensee’s authorized delegates.C\n\nEach licensee shall maintain policies and procedures sufficient for it to comply with this chapter and all other laws and regulations applicable to the conduct of its licensed business. A licensee shall furnish copies of its policies and procedures, as amended, to all of its authorized delegates.","order_by":null,"text":{"0":{"id":300058,"text":"Every licensee shall maintain in its principal place of business such books, accounts, and records as the Commission may reasonably require in order to determine whether such licensee is complying with the provisions of this chapter and other laws applicable to the conduct of its licensed business. Such books, accounts, and records shall be maintained apart and separate from any other business in which the licensee is involved.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":300059,"text":"Each licensee shall retain the following records for at least three years:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B1"},"2":{"id":300060,"text":"A record of each money transmission transaction and money order sold;","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"3":{"id":300061,"text":"A general ledger posted at least monthly containing all asset, liability, capital, income, and expense accounts;","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"B3"},"4":{"id":300062,"text":"Bank statements and bank reconciliation records;","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B2","next_prefix":"B4"},"5":{"id":300063,"text":"Records of outstanding money orders and money transmission transactions;","type":"section","prefixes":["B","4"],"prefix":"4","entire_prefix":"B4","prefix_anchor":"B4","level":2,"prior_prefix":"B3","next_prefix":"B5"},"6":{"id":300064,"text":"Records of each money order and money transmission transaction paid or completed within the three-year period; and","type":"section","prefixes":["B","5"],"prefix":"5","entire_prefix":"B5","prefix_anchor":"B5","level":2,"prior_prefix":"B4","next_prefix":"B6"},"7":{"id":300065,"text":"A list of the names, addresses, and telephone numbers of all of the licensee’s authorized delegates.","type":"section","prefixes":["B","6"],"prefix":"6","entire_prefix":"B6","prefix_anchor":"B6","level":2,"prior_prefix":"B5","next_prefix":"C"},"8":{"id":300066,"text":"Each licensee shall maintain policies and procedures sufficient for it to comply with this chapter and all other laws and regulations applicable to the conduct of its licensed business. A licensee shall furnish copies of its policies and procedures, as amended, to all of its authorized delegates.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B6"}},"ancestry":[{"id":13061,"edition_id":1,"name":"Money Order Sellers and Money Transmitters","identifier":"19","label":"chapter","depth":3,"order_by":1,"parent_id":13060,"metadata":{},"date_created":"2026-06-26 03:44:12","date_modified":"2026-06-26 03:44:12","permalink":{"id":266381,"object_type":"structure","relational_id":13061,"identifier":"19","token":"6.2\/III\/19","url":"\/6.2\/III\/19\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13060,"edition_id":1,"name":"Other Regulated Providers of Financial Services","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12852,"metadata":{},"date_created":"2026-06-26 03:44:12","date_modified":"2026-06-26 03:44:12","permalink":{"id":265721,"object_type":"structure","relational_id":13060,"identifier":"III","token":"6.2\/III","url":"\/6.2\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12852,"edition_id":1,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263249,"object_type":"structure","relational_id":12852,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":61238,"structure_id":13061,"section_number":"6.2-1900","catch_line":"(Repealed effective July 1, 2026) Definitions.","url":"\/6.2-1900\/","token":"6.2\/III\/19\/6.2-1900","metadata":false},{"id":54114,"structure_id":13061,"section_number":"6.2-1901","catch_line":"(Repealed effective July 1, 2026) License required; exception.","url":"\/6.2-1901\/","token":"6.2\/III\/19\/6.2-1901","metadata":false},{"id":67579,"structure_id":13061,"section_number":"6.2-1902","catch_line":"(Repealed effective July 1, 2026) Scope and construction of chapter.","url":"\/6.2-1902\/","token":"6.2\/III\/19\/6.2-1902","metadata":false},{"id":54293,"structure_id":13061,"section_number":"6.2-1903","catch_line":"(Repealed effective July 1, 2026) Application for license; financial statements; application fee.","url":"\/6.2-1903\/","token":"6.2\/III\/19\/6.2-1903","metadata":false},{"id":63920,"structure_id":13061,"section_number":"6.2-1904","catch_line":"(Repealed effective July 1, 2026) Bond required","url":"\/6.2-1904\/","token":"6.2\/III\/19\/6.2-1904","metadata":false},{"id":55062,"structure_id":13061,"section_number":"6.2-1904.1","catch_line":"(Repealed effective July 1, 2026) Investigation of applications.","url":"\/6.2-1904.1\/","token":"6.2\/III\/19\/6.2-1904.1","metadata":false},{"id":74185,"structure_id":13061,"section_number":"6.2-1905","catch_line":"(Repealed effective July 1, 2026) Annual fees; expenses; annual reports; renewal.","url":"\/6.2-1905\/","token":"6.2\/III\/19\/6.2-1905","metadata":false},{"id":55250,"structure_id":13061,"section_number":"6.2-1906","catch_line":"(Repealed effective July 1, 2026) Conditions prerequisite to issuance of license; net worth requirement.","url":"\/6.2-1906\/","token":"6.2\/III\/19\/6.2-1906","metadata":false},{"id":79791,"structure_id":13061,"section_number":"6.2-1906.1","catch_line":"(Repealed effective July 1, 2026) Licenses; places of business; changes.","url":"\/6.2-1906.1\/","token":"6.2\/III\/19\/6.2-1906.1","metadata":false},{"id":67493,"structure_id":13061,"section_number":"6.2-1907","catch_line":"(Repealed effective July 1, 2026) License revocation.","url":"\/6.2-1907\/","token":"6.2\/III\/19\/6.2-1907","metadata":false},{"id":72990,"structure_id":13061,"section_number":"6.2-1908","catch_line":"(Repealed effective July 1, 2026) Notice of proposed revocation.","url":"\/6.2-1908\/","token":"6.2\/III\/19\/6.2-1908","metadata":false},{"id":85447,"structure_id":13061,"section_number":"6.2-1909","catch_line":"(Repealed effective July 1, 2026) Cease and desist orders.","url":"\/6.2-1909\/","token":"6.2\/III\/19\/6.2-1909","metadata":false},{"id":70239,"structure_id":13061,"section_number":"6.2-1910","catch_line":"(Repealed effective July 1, 2026) Investigations; examinations; reporting violations.","url":"\/6.2-1910\/","token":"6.2\/III\/19\/6.2-1910","metadata":false},{"id":69147,"structure_id":13061,"section_number":"6.2-1911","catch_line":"(Repealed effective July 1, 2026) Conduct of business through authorized delegates of licensee.","url":"\/6.2-1911\/","token":"6.2\/III\/19\/6.2-1911","metadata":false},{"id":74100,"structure_id":13061,"section_number":"6.2-1912","catch_line":"(Repealed effective July 1, 2026) Liability of licensee for payment of money order; money order to bear name of licensee.","url":"\/6.2-1912\/","token":"6.2\/III\/19\/6.2-1912","metadata":false},{"id":60663,"structure_id":13061,"section_number":"6.2-1913","catch_line":"(Repealed effective July 1, 2026) Regulations.","url":"\/6.2-1913\/","token":"6.2\/III\/19\/6.2-1913","metadata":false},{"id":54449,"structure_id":13061,"section_number":"6.2-1914","catch_line":"(Repealed effective July 1, 2026) Acquisition of control; application.","url":"\/6.2-1914\/","token":"6.2\/III\/19\/6.2-1914","metadata":false},{"id":72729,"structure_id":13061,"section_number":"6.2-1915","catch_line":"(Repealed effective July 1, 2026) Sale or issuance of bearer money orders; prohibition.","url":"\/6.2-1915\/","token":"6.2\/III\/19\/6.2-1915","metadata":false},{"id":83704,"structure_id":13061,"section_number":"6.2-1916","catch_line":"(Repealed effective July 1, 2026) Retention of books, accounts, and records","url":"\/6.2-1916\/","token":"6.2\/III\/19\/6.2-1916","metadata":false},{"id":57678,"structure_id":13061,"section_number":"6.2-1917","catch_line":"(Repealed effective July 1, 2026) Other reporting requirements.","url":"\/6.2-1917\/","token":"6.2\/III\/19\/6.2-1917","metadata":false},{"id":67148,"structure_id":13061,"section_number":"6.2-1918","catch_line":"(Repealed effective July 1, 2026) Maintenance of permissible investments.","url":"\/6.2-1918\/","token":"6.2\/III\/19\/6.2-1918","metadata":false},{"id":57713,"structure_id":13061,"section_number":"6.2-1919","catch_line":"(Repealed effective July 1, 2026) Types of permissible investments.","url":"\/6.2-1919\/","token":"6.2\/III\/19\/6.2-1919","metadata":false},{"id":57341,"structure_id":13061,"section_number":"6.2-1920","catch_line":"(Repealed effective July 1, 2026) Civil penalties.","url":"\/6.2-1920\/","token":"6.2\/III\/19\/6.2-1920","metadata":false},{"id":82261,"structure_id":13061,"section_number":"6.2-1921","catch_line":"(Repealed effective July 1, 2026) Criminal penalty.","url":"\/6.2-1921\/","token":"6.2\/III\/19\/6.2-1921","metadata":false}],"previous_section":{"id":72729,"structure_id":13061,"section_number":"6.2-1915","catch_line":"(Repealed effective July 1, 2026) Sale or issuance of bearer money orders; prohibition.","url":"\/6.2-1915\/","token":"6.2\/III\/19\/6.2-1915","metadata":false},"next_section":{"id":57678,"structure_id":13061,"section_number":"6.2-1917","catch_line":"(Repealed effective July 1, 2026) Other reporting requirements.","url":"\/6.2-1917\/","token":"6.2\/III\/19\/6.2-1917","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1916\/","history_text":"

This law was first created in 2009. The record of its establishment is cataloged in chapter 346<\/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 3 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 2014, chapter 454<\/a>; in 2025, chapter 214<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":266455,"object_type":"law","relational_id":83704,"identifier":"6.2-1916","token":"6.2\/III\/19\/6.2-1916","url":"\/6.2-1916\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1916\/","token":"6.2\/III\/19\/6.2-1916","dublin_core":{"Title":"(Repealed effective July 1, 2026) Retention of books, accounts, and records","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1916","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Every licensee<\/span> shall maintain in its principal<\/span> place of business such books, accounts, and records as the Commission<\/span> may reasonably require in order<\/span> to determine whether such licensee<\/span> is complying with the provisions of this chapter and other laws<\/span> applicable to the conduct of its licensed business. Such books, accounts, and records shall be maintained apart and separate from any other business in which the licensee<\/span> is involved. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Each licensee<\/span> shall retain the following records for at least three years: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> A record of each money transmission<\/span> transaction and money order<\/span> sold; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> A general ledger posted at least monthly containing all asset, liability, capital, income, and expense accounts; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Bank statements and bank reconciliation records; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Records of outstanding money orders<\/span> and money transmission<\/span> transactions; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Records of each money order<\/span> and money transmission<\/span> transaction paid or completed within the three-year period; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> A list of the names, addresses, and telephone numbers of all of the licensee<\/span>’s authorized delegates<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Each licensee<\/span> shall maintain policies and procedures sufficient for it to comply with this chapter and all other laws<\/span> and regulations applicable to the conduct of its licensed business. A licensee<\/span> shall furnish copies of its policies and procedures, as amended, to all of its authorized delegates<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\n(REPEALED EFFECTIVE JULY 1, 2026) RETENTION OF BOOKS, ACCOUNTS, AND RECORDS (\u00a7\n6.2-1916)\n\nA. Every licensee shall maintain in its principal place of business such books,\naccounts, and records as the Commission may reasonably require in order to\ndetermine whether such licensee is complying with the provisions of this chapter\nand other laws applicable to the conduct of its licensed business. Such books,\naccounts, and records shall be maintained apart and separate from any other\nbusiness in which the licensee is involved.\n\nB. Each licensee shall retain the following records for at least three years:\n\n 1. A record of each money transmission transaction and money order sold;\n\n 2. A general ledger posted at least monthly containing all asset, liability,\n capital, income, and expense accounts;\n\n 3. Bank statements and bank reconciliation records;\n\n 4. Records of outstanding money orders and money transmission transactions;\n\n 5. Records of each money order and money transmission transaction paid or\n completed within the three-year period; and\n\n 6. A list of the names, addresses, and telephone numbers of all of the\n licensee’s authorized delegates.\n\nC. Each licensee shall maintain policies and procedures sufficient for it to\ncomply with this chapter and all other laws and regulations applicable to the\nconduct of its licensed business. A licensee shall furnish copies of its\npolicies and procedures, as amended, to all of its authorized delegates.\n\nHISTORY: 2009, c. 346, \u00a7 6.1-378.5; 2010, c. 794; 2014, c. 454; 2025, c. 214.","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}}