{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1918.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1918.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1918.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1918.html"}],"law_id":67148,"edition_id":1,"section_id":67148,"structure_id":13061,"section_number":"6.2-1918","catch_line":"(Repealed effective July 1, 2026) Maintenance of permissible investments.","history":"2009, c. 346, \u00a7 6.1-378.7; 2010, c. 794; 2017, c. 654; 2025, c. 214.","full_text":"A\n\nA licensee shall maintain at all times permissible investments that have a market value computed in accordance with generally accepted accounting principles of not less than the aggregate dollar amount of all of its (i) outstanding money orders from all states and (ii) outstanding money transmission transactions from all states. For purposes of this subsection, a licensee may calculate the aggregate dollar amount of its outstanding stored value products in accordance with generally accepted accounting principles.B\n\nThe Commission, with respect to any licensees, may limit the extent to which a type of investment within a class of permissible investments may be considered a permissible investment, except for money and certificates of deposit issued by a bank. The Commission may prescribe by regulation other types of investments that the Commission determines to have a safety substantially equivalent to other permissible investments.C\n\nPermissible investments shall be deemed to be held in trust for the benefit of the purchasers and holders of the licensee&#8217;s outstanding money orders and money transmission services in the event of bankruptcy or receivership of the licensee.","order_by":null,"text":{"0":{"id":243348,"text":"A licensee shall maintain at all times permissible investments that have a market value computed in accordance with generally accepted accounting principles of not less than the aggregate dollar amount of all of its (i) outstanding money orders from all states and (ii) outstanding money transmission transactions from all states. For purposes of this subsection, a licensee may calculate the aggregate dollar amount of its outstanding stored value products in accordance with generally accepted accounting principles.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":243349,"text":"The Commission, with respect to any licensees, may limit the extent to which a type of investment within a class of permissible investments may be considered a permissible investment, except for money and certificates of deposit issued by a bank. The Commission may prescribe by regulation other types of investments that the Commission determines to have a safety substantially equivalent to other permissible investments.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":243350,"text":"Permissible investments shall be deemed to be held in trust for the benefit of the purchasers and holders of the licensee&#8217;s outstanding money orders and money transmission services in the event of bankruptcy or receivership of the licensee.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1918\/","history_text":"<p>This law was first created in 2009. The record of its establishment is cataloged in chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?091+ful+CHAP0346\">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 <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?101+ful+CHAP0794\">794<\/a>; in 2017, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?171+ful+CHAP0654\">654<\/a>; in 2025, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?251+ful+CHAP0214\">214<\/a>.<\/p>","references":[{"id":57713,"section_number":"6.2-1919","catch_line":"(Repealed effective July 1, 2026) Types of permissible investments.","order_by":null,"url":"\/6.2-1919\/"}],"refers_to":false,"permalink":{"id":266463,"object_type":"law","relational_id":67148,"identifier":"6.2-1918","token":"6.2\/III\/19\/6.2-1918","url":"\/6.2-1918\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1918\/","token":"6.2\/III\/19\/6.2-1918","dublin_core":{"Title":"(Repealed effective July 1, 2026) Maintenance of permissible investments.","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1918","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section id=\"A\"><p><span class=\"prefix-number\">A.<\/span> A <span class=\"dictionary\">licensee<\/span> shall maintain at all times permissible investments that have a market value computed in accordance with generally accepted accounting principles of not less than the aggregate dollar amount of all of its (i) outstanding <span class=\"dictionary\">money orders<\/span> from all states and (ii) outstanding <span class=\"dictionary\">money transmission<\/span> transactions from all states. For purposes of this subsection, a <span class=\"dictionary\">licensee<\/span> may calculate the aggregate dollar amount of its outstanding <span class=\"dictionary\">stored value<\/span> products in accordance with generally accepted accounting principles. <a id=\"paragraph-243348\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-1918\/#A\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B\"><p><span class=\"prefix-number\">B.<\/span> The <span class=\"dictionary\">Commission<\/span>, with respect to any <span class=\"dictionary\">licensees<\/span>, may limit the extent to which a type of investment within a class of permissible investments may be considered a permissible investment, except for money and certificates of deposit issued by a bank. The <span class=\"dictionary\">Commission<\/span> may prescribe by regulation other types of investments that the <span class=\"dictionary\">Commission<\/span> determines to have a safety substantially equivalent to other permissible investments. <a id=\"paragraph-243349\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-1918\/#B\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"C\"><p><span class=\"prefix-number\">C.<\/span> Permissible investments shall be deemed to be held in trust for the benefit of the purchasers and holders of the <span class=\"dictionary\">licensee<\/span>&#8217;s outstanding <span class=\"dictionary\">money orders<\/span> and <span class=\"dictionary\">money transmission<\/span> services in the event of <span class=\"dictionary\">bankruptcy<\/span> or receivership of the <span class=\"dictionary\">licensee<\/span>. <a id=\"paragraph-243350\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-1918\/#C\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\n(REPEALED EFFECTIVE JULY 1, 2026) MAINTENANCE OF PERMISSIBLE INVESTMENTS. (\u00a7\n6.2-1918)\n\nA. A licensee shall maintain at all times permissible investments that have a\nmarket value computed in accordance with generally accepted accounting\nprinciples of not less than the aggregate dollar amount of all of its (i)\noutstanding money orders from all states and (ii) outstanding money transmission\ntransactions from all states. For purposes of this subsection, a licensee may\ncalculate the aggregate dollar amount of its outstanding stored value products\nin accordance with generally accepted accounting principles.\n\nB. The Commission, with respect to any licensees, may limit the extent to which\na type of investment within a class of permissible investments may be considered\na permissible investment, except for money and certificates of deposit issued by\na bank. The Commission may prescribe by regulation other types of investments\nthat the Commission determines to have a safety substantially equivalent to\nother permissible investments.\n\nC. Permissible investments shall be deemed to be held in trust for the benefit\nof the purchasers and holders of the licensee&#8217;s outstanding money orders\nand money transmission services in the event of bankruptcy or receivership of\nthe licensee.\n\nHISTORY: 2009, c. 346, \u00a7 6.1-378.7; 2010, c. 794; 2017, c. 654; 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}}