{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-2036.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-2036.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-2036.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-2036.html"}],"law_id":85989,"edition_id":1,"section_id":85989,"structure_id":14206,"section_number":"6.2-2036","catch_line":"Other reporting requirements","history":"2020, c. 785.","full_text":"A\n\nWithin 15 days following the occurrence of any of the following events, a licensee shall file a written report with the Commission describing such event and its expected impact on the business of the licensee:1\n\nThe filing of bankruptcy, reorganization, or receivership proceedings by or against the licensee;2\n\nThe institution of administrative or regulatory proceedings against the licensee by any governmental authority;3\n\nAny felony indictments of the licensee or any of its members, partners, directors, officers, trustees, beneficiaries, or principals, if known;4\n\nAny felony conviction of the licensee or any of its members, partners, directors, officers, trustees, beneficiaries, or principals, if known;5\n\nThe institution of an action against the licensee under the Virginia Consumer Protection Act (§ 59.1-196 et seq.) by the Attorney General or any other governmental authority; or6\n\nSuch other event as the Commission may prescribe by regulation.B\n\nWithin 30 days of judgment against the licensee in a civil action relating to the debt settlement services agreement of a consumer, a licensee shall file a written report with the Commission describing such event and its expected impact on the business of the licensee.C\n\nWithin 10 days of receipt of any qualified audit, a licensee shall notify the Commission and describe what steps are being taken to address concerns raised in the audit.","order_by":null,"text":{"0":{"id":307964,"text":"Within 15 days following the occurrence of any of the following events, a licensee shall file a written report with the Commission describing such event and its expected impact on the business of the licensee:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":307965,"text":"The filing of bankruptcy, reorganization, or receivership proceedings by or against the licensee;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":307966,"text":"The institution of administrative or regulatory proceedings against the licensee by any governmental authority;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":307967,"text":"Any felony indictments of the licensee or any of its members, partners, directors, officers, trustees, beneficiaries, or principals, if known;","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":307968,"text":"Any felony conviction of the licensee or any of its members, partners, directors, officers, trustees, beneficiaries, or principals, if known;","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"A5"},"5":{"id":307969,"text":"The institution of an action against the licensee under the Virginia Consumer Protection Act (§ 59.1-196 et seq.) by the Attorney General or any other governmental authority; or","type":"section","prefixes":["A","5"],"prefix":"5","entire_prefix":"A5","prefix_anchor":"A5","level":2,"prior_prefix":"A4","next_prefix":"A6"},"6":{"id":307970,"text":"Such other event as the Commission may prescribe by regulation.","type":"section","prefixes":["A","6"],"prefix":"6","entire_prefix":"A6","prefix_anchor":"A6","level":2,"prior_prefix":"A5","next_prefix":"B"},"7":{"id":307971,"text":"Within 30 days of judgment against the licensee in a civil action relating to the debt settlement services agreement of a consumer, a licensee shall file a written report with the Commission describing such event and its expected impact on the business of the licensee.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A6","next_prefix":"C"},"8":{"id":307972,"text":"Within 10 days of receipt of any qualified audit, a licensee shall notify the Commission and describe what steps are being taken to address concerns raised in the audit.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"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; exceptions","url":"\/6.2-2027\/","token":"6.2\/III\/20.1\/6.2-2027","metadata":false},{"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},{"id":83350,"structure_id":14206,"section_number":"6.2-2029","catch_line":"Bond required","url":"\/6.2-2029\/","token":"6.2\/III\/20.1\/6.2-2029","metadata":false},{"id":58352,"structure_id":14206,"section_number":"6.2-2030","catch_line":"Investigation of applications","url":"\/6.2-2030\/","token":"6.2\/III\/20.1\/6.2-2030","metadata":false},{"id":67583,"structure_id":14206,"section_number":"6.2-2031","catch_line":"Qualifications","url":"\/6.2-2031\/","token":"6.2\/III\/20.1\/6.2-2031","metadata":false},{"id":63306,"structure_id":14206,"section_number":"6.2-2032","catch_line":"Licenses; places of business; changes","url":"\/6.2-2032\/","token":"6.2\/III\/20.1\/6.2-2032","metadata":false},{"id":80384,"structure_id":14206,"section_number":"6.2-2033","catch_line":"Acquisition of control; 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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-2036\/","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":false,"refers_to":[{"id":56198,"section_number":"59.1-196","catch_line":"Title","order_by":null,"url":"\/59.1-196\/"}],"permalink":{"id":266773,"object_type":"law","relational_id":85989,"identifier":"6.2-2036","token":"6.2\/III\/20.1\/6.2-2036","url":"\/6.2-2036\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-2036\/","token":"6.2\/III\/20.1\/6.2-2036","dublin_core":{"Title":"Other reporting requirements","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-2036","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Within 15 days following the occurrence of any of the following events, a licensee<\/span> shall file a written report with the Commission<\/span> describing such event and its expected impact on the business of the licensee<\/span>: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The filing of bankruptcy<\/span>, reorganization, or receivership proceedings by or against the licensee<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The institution of administrative or regulatory proceedings against the licensee<\/span> by any governmental authority; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Any felony<\/span> indictments<\/span> of the licensee<\/span> or any of its members, partners, directors, officers, trustees, beneficiaries, or principals<\/span>, if known; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Any felony<\/span> conviction<\/span> of the licensee<\/span> or any of its members, partners, directors, officers, trustees, beneficiaries, or principals<\/span>, if known; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> The institution of an action against the licensee<\/span> under the Virginia Consumer<\/span> Protection Act (§ 59.1-196<\/a> et seq.) by the Attorney General<\/span> or any other governmental authority; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> Such other event as the Commission<\/span> may prescribe by regulation. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Within 30 days of judgment<\/span> against the licensee<\/span> in a civil action<\/span> relating to the debt settlement services<\/span> agreement of a consumer<\/span>, a licensee<\/span> shall file a written report with the Commission<\/span> describing such event and its expected impact on the business of the licensee<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Within 10 days of receipt of any qualified audit, a licensee<\/span> shall notify the Commission<\/span> and describe what steps are being taken to address concerns raised in the audit. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nOTHER REPORTING REQUIREMENTS (\u00a7 6.2-2036)\n\nA. Within 15 days following the occurrence of any of the following events, a\nlicensee shall file a written report with the Commission describing such event\nand its expected impact on the business of the licensee:\n\n 1. The filing of bankruptcy, reorganization, or receivership proceedings by or\n against the licensee;\n\n 2. The institution of administrative or regulatory proceedings against the\n licensee by any governmental authority;\n\n 3. Any felony indictments of the licensee or any of its members, partners,\n directors, officers, trustees, beneficiaries, or principals, if known;\n\n 4. Any felony conviction of the licensee or any of its members, partners,\n directors, officers, trustees, beneficiaries, or principals, if known;\n\n 5. The institution of an action against the licensee under the Virginia\n Consumer Protection Act (§ 59.1-196 et seq.) by the Attorney General or\n any other governmental authority; or\n\n 6. Such other event as the Commission may prescribe by regulation.\n\nB. Within 30 days of judgment against the licensee in a civil action relating to\nthe debt settlement services agreement of a consumer, a licensee shall file a\nwritten report with the Commission describing such event and its expected impact\non the business of the licensee.\n\nC. Within 10 days of receipt of any qualified audit, a licensee shall notify the\nCommission and describe what steps are being taken to address concerns raised in\nthe audit.\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}}