{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-2027.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-2027.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-2027.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-2027.html"}],"law_id":55395,"edition_id":1,"section_id":55395,"structure_id":14206,"section_number":"6.2-2027","catch_line":"License requirement; exceptions","history":"2020, c. 785.","full_text":"A\n\nNo person shall engage in the business of providing or offering to provide debt settlement services to any consumer, whether or not the person has an office, facility, agent, or other physical presence in the Commonwealth, unless such person obtains from the Commission a license issued pursuant to this chapter. The provisions of this chapter shall not apply to any bank, savings institution, or credit union or any person licensed to practice law in the Commonwealth.B\n\nThis chapter shall be construed by the Commission to promote sound personal financial advice and management.C\n\nA person licensed under Chapter 20 (§ 6.2-2000 et seq.) is not required to be licensed under this chapter if it offers to provide or provides debt settlement services solely in connection with offering to provide or providing debt management plans.D\n\nA person licensed under this chapter shall not receive money from consumers for transmission to consumers’ creditors or engage in the business of providing or offering to provide debt management plans to consumers unless such person is also licensed under Chapter 20 (§ 6.2-2000 et seq.).","order_by":null,"text":{"0":{"id":203100,"text":"No person shall engage in the business of providing or offering to provide debt settlement services to any consumer, whether or not the person has an office, facility, agent, or other physical presence in the Commonwealth, unless such person obtains from the Commission a license issued pursuant to this chapter. The provisions of this chapter shall not apply to any bank, savings institution, or credit union or any person licensed to practice law in the Commonwealth.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":203101,"text":"This chapter shall be construed by the Commission to promote sound personal financial advice and management.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":203102,"text":"A person licensed under Chapter 20 (§ 6.2-2000 et seq.) is not required to be licensed under this chapter if it offers to provide or provides debt settlement services solely in connection with offering to provide or providing debt management plans.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":203103,"text":"A person licensed under this chapter shall not receive money from consumers for transmission to consumers’ creditors or engage in the business of providing or offering to provide debt management plans to consumers unless such person is also licensed under Chapter 20 (§ 6.2-2000 et seq.).","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"ancestry":[{"id":14206,"edition_id":1,"name":"Debt Settlement Services Providers","identifier":"20.1","label":"chapter","depth":3,"order_by":1,"parent_id":13060,"metadata":{},"date_created":"2026-06-26 03:47:16","date_modified":"2026-06-26 03:47:16","permalink":{"id":266731,"object_type":"structure","relational_id":14206,"identifier":"20.1","token":"6.2\/III\/20.1","url":"\/6.2\/III\/20.1\/","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":76223,"structure_id":14206,"section_number":"6.2-2026","catch_line":"Definitions","url":"\/6.2-2026\/","token":"6.2\/III\/20.1\/6.2-2026","metadata":false},{"id":55395,"structure_id":14206,"section_number":"6.2-2027","catch_line":"License requirement; 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application","url":"\/6.2-2033\/","token":"6.2\/III\/20.1\/6.2-2033","metadata":false},{"id":87030,"structure_id":14206,"section_number":"6.2-2034","catch_line":"Retention of books, accounts, and records; responding to Bureau","url":"\/6.2-2034\/","token":"6.2\/III\/20.1\/6.2-2034","metadata":false},{"id":83844,"structure_id":14206,"section_number":"6.2-2035","catch_line":"Annual report","url":"\/6.2-2035\/","token":"6.2\/III\/20.1\/6.2-2035","metadata":false},{"id":85989,"structure_id":14206,"section_number":"6.2-2036","catch_line":"Other reporting requirements","url":"\/6.2-2036\/","token":"6.2\/III\/20.1\/6.2-2036","metadata":false},{"id":79999,"structure_id":14206,"section_number":"6.2-2037","catch_line":"Investigations; examinations","url":"\/6.2-2037\/","token":"6.2\/III\/20.1\/6.2-2037","metadata":false},{"id":80270,"structure_id":14206,"section_number":"6.2-2038","catch_line":"Annual fees","url":"\/6.2-2038\/","token":"6.2\/III\/20.1\/6.2-2038","metadata":false},{"id":82260,"structure_id":14206,"section_number":"6.2-2039","catch_line":"Regulations","url":"\/6.2-2039\/","token":"6.2\/III\/20.1\/6.2-2039","metadata":false},{"id":56890,"structure_id":14206,"section_number":"6.2-2040","catch_line":"Licensees providing debt settlement services; prohibited and required business methods","url":"\/6.2-2040\/","token":"6.2\/III\/20.1\/6.2-2040","metadata":false},{"id":81637,"structure_id":14206,"section_number":"6.2-2041","catch_line":"Fee","url":"\/6.2-2041\/","token":"6.2\/III\/20.1\/6.2-2041","metadata":false},{"id":66000,"structure_id":14206,"section_number":"6.2-2042","catch_line":"Advertising","url":"\/6.2-2042\/","token":"6.2\/III\/20.1\/6.2-2042","metadata":false},{"id":57456,"structure_id":14206,"section_number":"6.2-2043","catch_line":"Suspension or revocation of license","url":"\/6.2-2043\/","token":"6.2\/III\/20.1\/6.2-2043","metadata":false},{"id":85206,"structure_id":14206,"section_number":"6.2-2044","catch_line":"Cease and desist orders","url":"\/6.2-2044\/","token":"6.2\/III\/20.1\/6.2-2044","metadata":false},{"id":65724,"structure_id":14206,"section_number":"6.2-2045","catch_line":"Notice of proposed suspension or revocation","url":"\/6.2-2045\/","token":"6.2\/III\/20.1\/6.2-2045","metadata":false},{"id":64784,"structure_id":14206,"section_number":"6.2-2046","catch_line":"Civil penalties","url":"\/6.2-2046\/","token":"6.2\/III\/20.1\/6.2-2046","metadata":false},{"id":76198,"structure_id":14206,"section_number":"6.2-2047","catch_line":"Criminal penalty","url":"\/6.2-2047\/","token":"6.2\/III\/20.1\/6.2-2047","metadata":false},{"id":76935,"structure_id":14206,"section_number":"6.2-2048","catch_line":"Private right of action","url":"\/6.2-2048\/","token":"6.2\/III\/20.1\/6.2-2048","metadata":false},{"id":64822,"structure_id":14206,"section_number":"6.2-2049","catch_line":"Authority of Attorney General; referral by Commission to Attorney General","url":"\/6.2-2049\/","token":"6.2\/III\/20.1\/6.2-2049","metadata":false},{"id":83927,"structure_id":14206,"section_number":"6.2-2050","catch_line":"Violation of the Virginia Consumer Protection Act","url":"\/6.2-2050\/","token":"6.2\/III\/20.1\/6.2-2050","metadata":false}],"previous_section":{"id":76223,"structure_id":14206,"section_number":"6.2-2026","catch_line":"Definitions","url":"\/6.2-2026\/","token":"6.2\/III\/20.1\/6.2-2026","metadata":false},"next_section":{"id":70448,"structure_id":14206,"section_number":"6.2-2028","catch_line":"Application for license; form; content; fee","url":"\/6.2-2028\/","token":"6.2\/III\/20.1\/6.2-2028","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-2027\/","history_text":"

This law was first created in 2020. The record of its establishment is cataloged in chapter 785<\/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":[{"id":64784,"section_number":"6.2-2046","catch_line":"Civil penalties","order_by":null,"url":"\/6.2-2046\/"},{"id":76198,"section_number":"6.2-2047","catch_line":"Criminal penalty","order_by":null,"url":"\/6.2-2047\/"}],"refers_to":[{"id":74235,"section_number":"6.2-2000","catch_line":"Definitions","order_by":null,"url":"\/6.2-2000\/"}],"permalink":{"id":266737,"object_type":"law","relational_id":55395,"identifier":"6.2-2027","token":"6.2\/III\/20.1\/6.2-2027","url":"\/6.2-2027\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-2027\/","token":"6.2\/III\/20.1\/6.2-2027","dublin_core":{"Title":"License requirement; exceptions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-2027","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> No person<\/span> shall engage in the business of providing or offering to provide debt settlement services<\/span> to any consumer<\/span>, whether or not the person<\/span> has an office, facility, agent, or other physical presence in the Commonwealth, unless such person<\/span> obtains from the Commission<\/span> a license issued pursuant to this chapter. The provisions of this chapter shall not apply to any bank, savings institution, or credit union or any person<\/span> licensed to practice law<\/span> in the Commonwealth. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> This chapter shall be construed by the Commission<\/span> to promote sound personal financial advice and management. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> A person<\/span> licensed under Chapter 20 (§ 6.2-2000<\/a> et seq.) is not required to be licensed under this chapter if it offers to provide or provides debt settlement services<\/span> solely in connection with offering to provide or providing debt management plans. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> A person<\/span> licensed under this chapter shall not receive money from consumers<\/span> for transmission to consumers<\/span>’ creditors<\/span> or engage in the business of providing or offering to provide debt management plans to consumers<\/span> unless such person<\/span> is also licensed under Chapter 20 (§ 6.2-2000<\/a> et seq.). <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nLICENSE REQUIREMENT; EXCEPTIONS (\u00a7 6.2-2027)\n\nA. No person shall engage in the business of providing or offering to provide\ndebt settlement services to any consumer, whether or not the person has an\noffice, facility, agent, or other physical presence in the Commonwealth, unless\nsuch person obtains from the Commission a license issued pursuant to this\nchapter. The provisions of this chapter shall not apply to any bank, savings\ninstitution, or credit union or any person licensed to practice law in the\nCommonwealth.\n\nB. This chapter shall be construed by the Commission to promote sound personal\nfinancial advice and management.\n\nC. A person licensed under Chapter 20 (§ 6.2-2000 et seq.) is not required\nto be licensed under this chapter if it offers to provide or provides debt\nsettlement services solely in connection with offering to provide or providing\ndebt management plans.\n\nD. A person licensed under this chapter shall not receive money from consumers\nfor transmission to consumers’ creditors or engage in the business of\nproviding or offering to provide debt management plans to consumers unless such\nperson is also licensed under Chapter 20 (§ 6.2-2000 et seq.).\n\nHISTORY: 2020, c. 785.","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}}