{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1926.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1926.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1926.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1926.html"}],"law_id":65871,"edition_id":1,"section_id":65871,"structure_id":13396,"section_number":"6.2-1926","catch_line":"(Effective July 1, 2026) Supervision","history":"2025, c. 214.","full_text":"A\n\nThe Commission may conduct an examination or investigation of a licensee or authorized delegate or otherwise take independent action authorized by this chapter or by a regulation adopted or order issued under this chapter as reasonably necessary or appropriate to administer and enforce this chapter, regulations implementing this chapter, and other applicable law, including the Bank Secrecy Act and the federal U.S.A. Patriot Act of 2001 (49 U.S.C. \u00a7 5103a et seq.). The Commission may:1\n\nConduct an examination or investigation either on site or off site as the Commission may reasonably require;2\n\nConduct an examination or investigation in conjunction with an examination or investigation conducted by representatives of other state agencies or agencies of another state or of the federal government;3\n\nAccept the examination or investigation report of an agency of another state or of the federal government, or a report prepared by an independent accounting firm, which on being accepted is considered for all purposes as an official report of the Commission; and4\n\nExamine or investigate under oath a key individual or employee of a licensee or authorized delegate and require the person to produce records regarding any matter related to the condition and business of the licensee or authorized delegate.B\n\nA licensee or authorized delegate shall provide, and the Commission shall have full and complete access to, all records the Commission may reasonably require to conduct a complete examination. The records shall be provided at the location and in the format specified by the Commission, provided that the Commission may utilize multistate record production standards and examination procedures when such standards and procedures will reasonably achieve the requirements of this section.C\n\nUnless otherwise directed by the Commission, a licensee shall pay all costs reasonably incurred in connection with an examination of the licensee or the licensee&#8217;s authorized delegates.","order_by":null,"text":{"0":{"id":239383,"text":"The Commission may conduct an examination or investigation of a licensee or authorized delegate or otherwise take independent action authorized by this chapter or by a regulation adopted or order issued under this chapter as reasonably necessary or appropriate to administer and enforce this chapter, regulations implementing this chapter, and other applicable law, including the Bank Secrecy Act and the federal U.S.A. Patriot Act of 2001 (49 U.S.C. \u00a7 5103a et seq.). The Commission may:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":239384,"text":"Conduct an examination or investigation either on site or off site as the Commission may reasonably require;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":239385,"text":"Conduct an examination or investigation in conjunction with an examination or investigation conducted by representatives of other state agencies or agencies of another state or of the federal government;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":239386,"text":"Accept the examination or investigation report of an agency of another state or of the federal government, or a report prepared by an independent accounting firm, which on being accepted is considered for all purposes as an official report of the Commission; and","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":239387,"text":"Examine or investigate under oath a key individual or employee of a licensee or authorized delegate and require the person to produce records regarding any matter related to the condition and business of the licensee or authorized delegate.","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"B"},"5":{"id":239388,"text":"A licensee or authorized delegate shall provide, and the Commission shall have full and complete access to, all records the Commission may reasonably require to conduct a complete examination. The records shall be provided at the location and in the format specified by the Commission, provided that the Commission may utilize multistate record production standards and examination procedures when such standards and procedures will reasonably achieve the requirements of this section.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A4","next_prefix":"C"},"6":{"id":239389,"text":"Unless otherwise directed by the Commission, a licensee shall pay all costs reasonably incurred in connection with an examination of the licensee or the licensee&#8217;s authorized delegates.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":13396,"edition_id":1,"name":"Money Transmitters","identifier":"19.1","label":"chapter","depth":3,"order_by":1,"parent_id":13060,"metadata":{},"date_created":"2026-06-26 03:44:48","date_modified":"2026-06-26 03:44:48","permalink":{"id":266479,"object_type":"structure","relational_id":13396,"identifier":"19.1","token":"6.2\/III\/19.1","url":"\/6.2\/III\/19.1\/","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":78099,"structure_id":13396,"section_number":"6.2-1922","catch_line":"(Effective July 1, 2026) Definitions","url":"\/6.2-1922\/","token":"6.2\/III\/19.1\/6.2-1922","metadata":false},{"id":82828,"structure_id":13396,"section_number":"6.2-1923","catch_line":"(Effective July 1, 2026) Exemptions","url":"\/6.2-1923\/","token":"6.2\/III\/19.1\/6.2-1923","metadata":false},{"id":71413,"structure_id":13396,"section_number":"6.2-1924","catch_line":"(Effective July 1, 2026) Implementation","url":"\/6.2-1924\/","token":"6.2\/III\/19.1\/6.2-1924","metadata":false},{"id":79717,"structure_id":13396,"section_number":"6.2-1925","catch_line":"(Effective July 1, 2026) Regulations","url":"\/6.2-1925\/","token":"6.2\/III\/19.1\/6.2-1925","metadata":false},{"id":65871,"structure_id":13396,"section_number":"6.2-1926","catch_line":"(Effective July 1, 2026) Supervision","url":"\/6.2-1926\/","token":"6.2\/III\/19.1\/6.2-1926","metadata":false},{"id":62025,"structure_id":13396,"section_number":"6.2-1927","catch_line":"(Effective July 1, 2026) Networked supervision","url":"\/6.2-1927\/","token":"6.2\/III\/19.1\/6.2-1927","metadata":false},{"id":70844,"structure_id":13396,"section_number":"6.2-1928","catch_line":"(Effective July 1, 2026) Relationship to federal law","url":"\/6.2-1928\/","token":"6.2\/III\/19.1\/6.2-1928","metadata":false},{"id":55220,"structure_id":13396,"section_number":"6.2-1929","catch_line":"(Effective July 1, 2026) License required","url":"\/6.2-1929\/","token":"6.2\/III\/19.1\/6.2-1929","metadata":false},{"id":65393,"structure_id":13396,"section_number":"6.2-1930","catch_line":"(Effective July 1, 2026) Consistent state licensing","url":"\/6.2-1930\/","token":"6.2\/III\/19.1\/6.2-1930","metadata":false},{"id":81034,"structure_id":13396,"section_number":"6.2-1931","catch_line":"(Effective July 1, 2026) Application for license","url":"\/6.2-1931\/","token":"6.2\/III\/19.1\/6.2-1931","metadata":false},{"id":68858,"structure_id":13396,"section_number":"6.2-1932","catch_line":"(Effective July 1, 2026) Information required for certain individuals","url":"\/6.2-1932\/","token":"6.2\/III\/19.1\/6.2-1932","metadata":false},{"id":64243,"structure_id":13396,"section_number":"6.2-1933","catch_line":"(Effective July 1, 2026) Issuance of license","url":"\/6.2-1933\/","token":"6.2\/III\/19.1\/6.2-1933","metadata":false},{"id":73816,"structure_id":13396,"section_number":"6.2-1934","catch_line":"(Effective July 1, 2026) License renewal","url":"\/6.2-1934\/","token":"6.2\/III\/19.1\/6.2-1934","metadata":false},{"id":63168,"structure_id":13396,"section_number":"6.2-1935","catch_line":"(Effective July 1, 2026) Maintenance of license","url":"\/6.2-1935\/","token":"6.2\/III\/19.1\/6.2-1935","metadata":false},{"id":64284,"structure_id":13396,"section_number":"6.2-1936","catch_line":"(Effective July 1, 2026) Acquisition of control","url":"\/6.2-1936\/","token":"6.2\/III\/19.1\/6.2-1936","metadata":false},{"id":70569,"structure_id":13396,"section_number":"6.2-1937","catch_line":"(Effective July 1, 2026) Change of key individual; notice and required information","url":"\/6.2-1937\/","token":"6.2\/III\/19.1\/6.2-1937","metadata":false},{"id":64010,"structure_id":13396,"section_number":"6.2-1938","catch_line":"(Effective July 1, 2026) Report of condition","url":"\/6.2-1938\/","token":"6.2\/III\/19.1\/6.2-1938","metadata":false},{"id":83608,"structure_id":13396,"section_number":"6.2-1939","catch_line":"(Effective July 1, 2026) Audited financials","url":"\/6.2-1939\/","token":"6.2\/III\/19.1\/6.2-1939","metadata":false},{"id":74501,"structure_id":13396,"section_number":"6.2-1940","catch_line":"(Effective July 1, 2026) Authorized delegate reporting","url":"\/6.2-1940\/","token":"6.2\/III\/19.1\/6.2-1940","metadata":false},{"id":76742,"structure_id":13396,"section_number":"6.2-1941","catch_line":"(Effective July 1, 2026) Reports of certain events","url":"\/6.2-1941\/","token":"6.2\/III\/19.1\/6.2-1941","metadata":false},{"id":56737,"structure_id":13396,"section_number":"6.2-1942","catch_line":"(Effective July 1, 2026) Reports required by federal law","url":"\/6.2-1942\/","token":"6.2\/III\/19.1\/6.2-1942","metadata":false},{"id":60649,"structure_id":13396,"section_number":"6.2-1943","catch_line":"(Effective July 1, 2026) Records","url":"\/6.2-1943\/","token":"6.2\/III\/19.1\/6.2-1943","metadata":false},{"id":63079,"structure_id":13396,"section_number":"6.2-1944","catch_line":"(Effective July 1, 2026) Relationship between licensee and authorized delegate; prohibited activities","url":"\/6.2-1944\/","token":"6.2\/III\/19.1\/6.2-1944","metadata":false},{"id":62969,"structure_id":13396,"section_number":"6.2-1945","catch_line":"(Effective July 1, 2026) Timely transmission","url":"\/6.2-1945\/","token":"6.2\/III\/19.1\/6.2-1945","metadata":false},{"id":64138,"structure_id":13396,"section_number":"6.2-1946","catch_line":"(Effective July 1, 2026) Refunds","url":"\/6.2-1946\/","token":"6.2\/III\/19.1\/6.2-1946","metadata":false},{"id":57065,"structure_id":13396,"section_number":"6.2-1947","catch_line":"(Effective July 1, 2026) Receipts","url":"\/6.2-1947\/","token":"6.2\/III\/19.1\/6.2-1947","metadata":false},{"id":61020,"structure_id":13396,"section_number":"6.2-1948","catch_line":"(Effective July 1, 2026) Notice","url":"\/6.2-1948\/","token":"6.2\/III\/19.1\/6.2-1948","metadata":false},{"id":59235,"structure_id":13396,"section_number":"6.2-1949","catch_line":"(Effective July 1, 2026) Payroll processing services","url":"\/6.2-1949\/","token":"6.2\/III\/19.1\/6.2-1949","metadata":false},{"id":81196,"structure_id":13396,"section_number":"6.2-1950","catch_line":"(Effective July 1, 2026) Net worth","url":"\/6.2-1950\/","token":"6.2\/III\/19.1\/6.2-1950","metadata":false},{"id":61605,"structure_id":13396,"section_number":"6.2-1951","catch_line":"(Effective July 1, 2026) Surety bond","url":"\/6.2-1951\/","token":"6.2\/III\/19.1\/6.2-1951","metadata":false},{"id":86619,"structure_id":13396,"section_number":"6.2-1952","catch_line":"(Effective July 1, 2026) Maintenance of permissible investments","url":"\/6.2-1952\/","token":"6.2\/III\/19.1\/6.2-1952","metadata":false},{"id":56681,"structure_id":13396,"section_number":"6.2-1953","catch_line":"(Effective July 1, 2026) Permissible investments","url":"\/6.2-1953\/","token":"6.2\/III\/19.1\/6.2-1953","metadata":false},{"id":61652,"structure_id":13396,"section_number":"6.2-1954","catch_line":"(Effective July 1, 2026) Suspension or revocation of license","url":"\/6.2-1954\/","token":"6.2\/III\/19.1\/6.2-1954","metadata":false},{"id":84954,"structure_id":13396,"section_number":"6.2-1955","catch_line":"(Effective July 1, 2026) Civil penalties","url":"\/6.2-1955\/","token":"6.2\/III\/19.1\/6.2-1955","metadata":false},{"id":54366,"structure_id":13396,"section_number":"6.2-1956","catch_line":"(Effective July 1, 2026) Cease and desist orders","url":"\/6.2-1956\/","token":"6.2\/III\/19.1\/6.2-1956","metadata":false},{"id":68409,"structure_id":13396,"section_number":"6.2-1957","catch_line":"(Effective July 1, 2026) Criminal penalty","url":"\/6.2-1957\/","token":"6.2\/III\/19.1\/6.2-1957","metadata":false}],"previous_section":{"id":79717,"structure_id":13396,"section_number":"6.2-1925","catch_line":"(Effective July 1, 2026) Regulations","url":"\/6.2-1925\/","token":"6.2\/III\/19.1\/6.2-1925","metadata":false},"next_section":{"id":62025,"structure_id":13396,"section_number":"6.2-1927","catch_line":"(Effective July 1, 2026) Networked supervision","url":"\/6.2-1927\/","token":"6.2\/III\/19.1\/6.2-1927","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1926\/","history_text":"<p>This law was first created in 2025. The record of its establishment is cataloged in chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?251+ful+CHAP0214\">214<\/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.<\/p>","references":false,"refers_to":false,"permalink":{"id":266497,"object_type":"law","relational_id":65871,"identifier":"6.2-1926","token":"6.2\/III\/19.1\/6.2-1926","url":"\/6.2-1926\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1926\/","token":"6.2\/III\/19.1\/6.2-1926","dublin_core":{"Title":"(Effective July 1, 2026) Supervision","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1926","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section id=\"A\"><p><span class=\"prefix-number\">A.<\/span> The <span class=\"dictionary\">Commission<\/span> may conduct an examination or investigation of a <span class=\"dictionary\">licensee<\/span> or <span class=\"dictionary\">authorized delegate<\/span> or otherwise take independent action authorized by this chapter or by a regulation adopted or <span class=\"dictionary\">order<\/span> issued under this chapter as reasonably necessary or appropriate to administer and enforce this chapter, regulations implementing this chapter, and other applicable <span class=\"dictionary\">law<\/span>, including the <span class=\"dictionary\">Bank Secrecy Act<\/span> and the federal U.S.A. Patriot Act of 2001 (49 U.S.C. \u00a7&nbsp;5103a et seq.). The <span class=\"dictionary\">Commission<\/span> may: <a id=\"paragraph-239383\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-1926\/#A\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A1\" class=\"indent-1\"><p><span class=\"prefix-number\">1.<\/span> Conduct an examination or investigation either on site or off site as the <span class=\"dictionary\">Commission<\/span> may reasonably require; <a id=\"paragraph-239384\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-1926\/#A1\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A2\" class=\"indent-1\"><p><span class=\"prefix-number\">2.<\/span> Conduct an examination or investigation in conjunction with an examination or investigation conducted by representatives of other state agencies or agencies of another state or of the federal government; <a id=\"paragraph-239385\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-1926\/#A2\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A3\" class=\"indent-1\"><p><span class=\"prefix-number\">3.<\/span> Accept the examination or investigation report of an agency of another state or of the federal government, or a report prepared by an independent accounting firm, which on being accepted is considered for all purposes as an official report of the <span class=\"dictionary\">Commission<\/span>; and <a id=\"paragraph-239386\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-1926\/#A3\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A4\" class=\"indent-1\"><p><span class=\"prefix-number\">4.<\/span> Examine or investigate under <span class=\"dictionary\">oath<\/span> a <span class=\"dictionary\">key individual<\/span> or employee of a <span class=\"dictionary\">licensee<\/span> or <span class=\"dictionary\">authorized delegate<\/span> and require the <span class=\"dictionary\">person<\/span> to produce records regarding any matter related to the condition and business of the <span class=\"dictionary\">licensee<\/span> or <span class=\"dictionary\">authorized delegate<\/span>. <a id=\"paragraph-239387\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-1926\/#A4\"><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> A <span class=\"dictionary\">licensee<\/span> or <span class=\"dictionary\">authorized delegate<\/span> shall provide, and the <span class=\"dictionary\">Commission<\/span> shall have full and complete access to, all records the <span class=\"dictionary\">Commission<\/span> may reasonably require to conduct a complete examination. The records shall be provided at the location and in the format specified by the <span class=\"dictionary\">Commission<\/span>, provided that the <span class=\"dictionary\">Commission<\/span> may utilize multistate record production standards and examination procedures when such standards and procedures will reasonably achieve the requirements of this section. <a id=\"paragraph-239388\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-1926\/#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> Unless otherwise directed by the <span class=\"dictionary\">Commission<\/span>, a <span class=\"dictionary\">licensee<\/span> shall pay all costs reasonably incurred in connection with an examination of the <span class=\"dictionary\">licensee<\/span> or the <span class=\"dictionary\">licensee<\/span>&#8217;s <span class=\"dictionary\">authorized delegates<\/span>. <a id=\"paragraph-239389\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-1926\/#C\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\n(EFFECTIVE JULY 1, 2026) SUPERVISION (\u00a7 6.2-1926)\n\nA. The Commission may conduct an examination or investigation of a licensee or\nauthorized delegate or otherwise take independent action authorized by this\nchapter or by a regulation adopted or order issued under this chapter as\nreasonably necessary or appropriate to administer and enforce this chapter,\nregulations implementing this chapter, and other applicable law, including the\nBank Secrecy Act and the federal U.S.A. Patriot Act of 2001 (49 U.S.C. \u00a7 5103a\net seq.). The Commission may:\n\n   1. Conduct an examination or investigation either on site or off site as the\n   Commission may reasonably require;\n\n   2. Conduct an examination or investigation in conjunction with an examination\n   or investigation conducted by representatives of other state agencies or\n   agencies of another state or of the federal government;\n\n   3. Accept the examination or investigation report of an agency of another\n   state or of the federal government, or a report prepared by an independent\n   accounting firm, which on being accepted is considered for all purposes as an\n   official report of the Commission; and\n\n   4. Examine or investigate under oath a key individual or employee of a\n   licensee or authorized delegate and require the person to produce records\n   regarding any matter related to the condition and business of the licensee or\n   authorized delegate.\n\nB. A licensee or authorized delegate shall provide, and the Commission shall\nhave full and complete access to, all records the Commission may reasonably\nrequire to conduct a complete examination. The records shall be provided at the\nlocation and in the format specified by the Commission, provided that the\nCommission may utilize multistate record production standards and examination\nprocedures when such standards and procedures will reasonably achieve the\nrequirements of this section.\n\nC. Unless otherwise directed by the Commission, a licensee shall pay all costs\nreasonably incurred in connection with an examination of the licensee or the\nlicensee&#8217;s authorized delegates.\n\nHISTORY: 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}}