{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-2207.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-2207.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-2207.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-2207.html"}],"law_id":68337,"edition_id":1,"section_id":68337,"structure_id":13458,"section_number":"6.2-2207","catch_line":"Licenses; places of business; changes","history":"2010, c. 477, \u00a7 6.1-487; 2020, cc. 1215, 1258.","full_text":"A\n\nEach license shall state the address or addresses at which the business is to be conducted and shall state fully the legal name of the licensee as well as any fictitious name by which the licensee is operating in the Commonwealth. Each license shall be posted prominently in each place of business of the licensee. Licenses shall not be transferable or assignable, by operation of law or otherwise. No licensee shall use any name in the Commonwealth other than the legal name or fictitious name set forth on the license issued by the Commission.B\n\nNo licensee shall open an additional office or relocate any place of business without prior approval of the Commission. Applications for such approval shall be made in writing on a form provided by the Commissioner and shall be accompanied by payment of a $150 nonrefundable application fee or other reasonable amount that the Commission may prescribe by regulation. The application shall be approved unless the Commission finds that the applicant does not have the required liquid assets or has not conducted business under this chapter efficiently, fairly, in the public interest, and in accordance with law. The application shall be deemed approved if notice to the contrary has not been mailed by the Commission to the applicant within 30 days of the date the application is received by the Commission. After approval, the applicant shall give written notice to the Commissioner within 10 days of the commencement of business at the additional location or relocated place of business.C\n\nEvery licensee shall within 10 days notify the Commissioner, in writing, of the closing of any business location and of the name, address, and position of each new senior officer, member, partner, or director and provide such other information with respect to any such change as the Commissioner may reasonably require.D\n\nEvery license shall remain in force until it has been surrendered, revoked, or suspended. The surrender, revocation, or suspension of a license shall not affect any preexisting legal right or obligation of such licensee.","order_by":null,"text":{"0":{"id":247271,"text":"Each license shall state the address or addresses at which the business is to be conducted and shall state fully the legal name of the licensee as well as any fictitious name by which the licensee is operating in the Commonwealth. Each license shall be posted prominently in each place of business of the licensee. Licenses shall not be transferable or assignable, by operation of law or otherwise. No licensee shall use any name in the Commonwealth other than the legal name or fictitious name set forth on the license issued by the Commission.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":247272,"text":"No licensee shall open an additional office or relocate any place of business without prior approval of the Commission. Applications for such approval shall be made in writing on a form provided by the Commissioner and shall be accompanied by payment of a $150 nonrefundable application fee or other reasonable amount that the Commission may prescribe by regulation. The application shall be approved unless the Commission finds that the applicant does not have the required liquid assets or has not conducted business under this chapter efficiently, fairly, in the public interest, and in accordance with law. The application shall be deemed approved if notice to the contrary has not been mailed by the Commission to the applicant within 30 days of the date the application is received by the Commission. After approval, the applicant shall give written notice to the Commissioner within 10 days of the commencement of business at the additional location or relocated place of business.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":247273,"text":"Every licensee shall within 10 days notify the Commissioner, in writing, of the closing of any business location and of the name, address, and position of each new senior officer, member, partner, or director and provide such other information with respect to any such change as the Commissioner may reasonably require.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":247274,"text":"Every license shall remain in force until it has been surrendered, revoked, or suspended. The surrender, revocation, or suspension of a license shall not affect any preexisting legal right or obligation of such licensee.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"ancestry":[{"id":13458,"edition_id":1,"name":"Motor Vehicle Title Loans","identifier":"22","label":"chapter","depth":3,"order_by":1,"parent_id":13060,"metadata":{},"date_created":"2026-06-26 03:44:55","date_modified":"2026-06-26 03:44:55","permalink":{"id":266887,"object_type":"structure","relational_id":13458,"identifier":"22","token":"6.2\/III\/22","url":"\/6.2\/III\/22\/","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":76041,"structure_id":13458,"section_number":"6.2-2200","catch_line":"Definitions","url":"\/6.2-2200\/","token":"6.2\/III\/22\/6.2-2200","metadata":false},{"id":86220,"structure_id":13458,"section_number":"6.2-2201","catch_line":"License required","url":"\/6.2-2201\/","token":"6.2\/III\/22\/6.2-2201","metadata":false},{"id":86345,"structure_id":13458,"section_number":"6.2-2202","catch_line":"Scope of chapter","url":"\/6.2-2202\/","token":"6.2\/III\/22\/6.2-2202","metadata":false},{"id":67400,"structure_id":13458,"section_number":"6.2-2203","catch_line":"Application for license; form; content; fee","url":"\/6.2-2203\/","token":"6.2\/III\/22\/6.2-2203","metadata":false},{"id":73780,"structure_id":13458,"section_number":"6.2-2204","catch_line":"Bond required","url":"\/6.2-2204\/","token":"6.2\/III\/22\/6.2-2204","metadata":false},{"id":74026,"structure_id":13458,"section_number":"6.2-2205","catch_line":"Investigation of applications","url":"\/6.2-2205\/","token":"6.2\/III\/22\/6.2-2205","metadata":false},{"id":73822,"structure_id":13458,"section_number":"6.2-2206","catch_line":"Qualifications","url":"\/6.2-2206\/","token":"6.2\/III\/22\/6.2-2206","metadata":false},{"id":68337,"structure_id":13458,"section_number":"6.2-2207","catch_line":"Licenses; places of business; changes","url":"\/6.2-2207\/","token":"6.2\/III\/22\/6.2-2207","metadata":false},{"id":83906,"structure_id":13458,"section_number":"6.2-2208","catch_line":"Acquisition of control; application","url":"\/6.2-2208\/","token":"6.2\/III\/22\/6.2-2208","metadata":false},{"id":78996,"structure_id":13458,"section_number":"6.2-2209","catch_line":"Retention of books, accounts, and records","url":"\/6.2-2209\/","token":"6.2\/III\/22\/6.2-2209","metadata":false},{"id":56346,"structure_id":13458,"section_number":"6.2-2210","catch_line":"Annual report","url":"\/6.2-2210\/","token":"6.2\/III\/22\/6.2-2210","metadata":false},{"id":84839,"structure_id":13458,"section_number":"6.2-2211","catch_line":"Other reporting requirements","url":"\/6.2-2211\/","token":"6.2\/III\/22\/6.2-2211","metadata":false},{"id":68990,"structure_id":13458,"section_number":"6.2-2212","catch_line":"Investigations; examinations","url":"\/6.2-2212\/","token":"6.2\/III\/22\/6.2-2212","metadata":false},{"id":69489,"structure_id":13458,"section_number":"6.2-2213","catch_line":"Annual fees","url":"\/6.2-2213\/","token":"6.2\/III\/22\/6.2-2213","metadata":false},{"id":67173,"structure_id":13458,"section_number":"6.2-2214","catch_line":"Regulations","url":"\/6.2-2214\/","token":"6.2\/III\/22\/6.2-2214","metadata":false},{"id":67183,"structure_id":13458,"section_number":"6.2-2215","catch_line":"Required and prohibited business methods","url":"\/6.2-2215\/","token":"6.2\/III\/22\/6.2-2215","metadata":false},{"id":54418,"structure_id":13458,"section_number":"6.2-2215.1","catch_line":"Loan terms and conditions","url":"\/6.2-2215.1\/","token":"6.2\/III\/22\/6.2-2215.1","metadata":false},{"id":86825,"structure_id":13458,"section_number":"6.2-2216","catch_line":"Authorized fees and charges","url":"\/6.2-2216\/","token":"6.2\/III\/22\/6.2-2216","metadata":false},{"id":83368,"structure_id":13458,"section_number":"6.2-2216.1","catch_line":"Inflation adjustment of maximum monthly maintenance fee","url":"\/6.2-2216.1\/","token":"6.2\/III\/22\/6.2-2216.1","metadata":false},{"id":58242,"structure_id":13458,"section_number":"6.2-2216.2","catch_line":"Refinancing of motor vehicle title loan","url":"\/6.2-2216.2\/","token":"6.2\/III\/22\/6.2-2216.2","metadata":false},{"id":74445,"structure_id":13458,"section_number":"6.2-2216.3","catch_line":"Statement of balance due; repayment and refunds","url":"\/6.2-2216.3\/","token":"6.2\/III\/22\/6.2-2216.3","metadata":false},{"id":74396,"structure_id":13458,"section_number":"6.2-2216.4","catch_line":"Restriction on certain fees and charges","url":"\/6.2-2216.4\/","token":"6.2\/III\/22\/6.2-2216.4","metadata":false},{"id":79602,"structure_id":13458,"section_number":"6.2-2216.5","catch_line":"Verification of borrower's income","url":"\/6.2-2216.5\/","token":"6.2\/III\/22\/6.2-2216.5","metadata":false},{"id":72369,"structure_id":13458,"section_number":"6.2-2217","catch_line":"Limited recourse; repossession and sale of motor vehicle","url":"\/6.2-2217\/","token":"6.2\/III\/22\/6.2-2217","metadata":false},{"id":65091,"structure_id":13458,"section_number":"6.2-2218","catch_line":"Advertising","url":"\/6.2-2218\/","token":"6.2\/III\/22\/6.2-2218","metadata":false},{"id":54679,"structure_id":13458,"section_number":"6.2-2218.1","catch_line":"Other business","url":"\/6.2-2218.1\/","token":"6.2\/III\/22\/6.2-2218.1","metadata":false},{"id":58040,"structure_id":13458,"section_number":"6.2-2219","catch_line":"Suspension or revocation of license","url":"\/6.2-2219\/","token":"6.2\/III\/22\/6.2-2219","metadata":false},{"id":87177,"structure_id":13458,"section_number":"6.2-2220","catch_line":"Cease and desist orders","url":"\/6.2-2220\/","token":"6.2\/III\/22\/6.2-2220","metadata":false},{"id":83357,"structure_id":13458,"section_number":"6.2-2221","catch_line":"Notice of proposed suspension or revocation","url":"\/6.2-2221\/","token":"6.2\/III\/22\/6.2-2221","metadata":false},{"id":63184,"structure_id":13458,"section_number":"6.2-2222","catch_line":"Fines for violations","url":"\/6.2-2222\/","token":"6.2\/III\/22\/6.2-2222","metadata":false},{"id":79604,"structure_id":13458,"section_number":"6.2-2223","catch_line":"Criminal penalty","url":"\/6.2-2223\/","token":"6.2\/III\/22\/6.2-2223","metadata":false},{"id":77105,"structure_id":13458,"section_number":"6.2-2224","catch_line":"Validity of noncompliant loan agreement; private right of action","url":"\/6.2-2224\/","token":"6.2\/III\/22\/6.2-2224","metadata":false},{"id":82178,"structure_id":13458,"section_number":"6.2-2225","catch_line":"Application of chapter to Internet loans","url":"\/6.2-2225\/","token":"6.2\/III\/22\/6.2-2225","metadata":false},{"id":82392,"structure_id":13458,"section_number":"6.2-2226","catch_line":"Authority of Attorney General; referral by Commission to Attorney General","url":"\/6.2-2226\/","token":"6.2\/III\/22\/6.2-2226","metadata":false},{"id":64595,"structure_id":13458,"section_number":"6.2-2227","catch_line":"Violation of the Virginia Consumer Protection Act","url":"\/6.2-2227\/","token":"6.2\/III\/22\/6.2-2227","metadata":false}],"previous_section":{"id":73822,"structure_id":13458,"section_number":"6.2-2206","catch_line":"Qualifications","url":"\/6.2-2206\/","token":"6.2\/III\/22\/6.2-2206","metadata":false},"next_section":{"id":83906,"structure_id":13458,"section_number":"6.2-2208","catch_line":"Acquisition of control; application","url":"\/6.2-2208\/","token":"6.2\/III\/22\/6.2-2208","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-2207\/","history_text":"<p>This law was first created in 2010. The record of its establishment is cataloged in chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?101+ful+CHAP0477\">477<\/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 1 time. 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. That modification is as follows: in 2020, chapters <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?201+ful+CHAP1215\">1215<\/a> and <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?201+ful+CHAP1258\">1258<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":266917,"object_type":"law","relational_id":68337,"identifier":"6.2-2207","token":"6.2\/III\/22\/6.2-2207","url":"\/6.2-2207\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-2207\/","token":"6.2\/III\/22\/6.2-2207","dublin_core":{"Title":"Licenses; places of business; changes","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-2207","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section id=\"A\"><p><span class=\"prefix-number\">A.<\/span> Each license shall state the address or addresses at which the business is to be conducted and shall state fully the legal name of the <span class=\"dictionary\">licensee<\/span> as well as any fictitious name by which the <span class=\"dictionary\">licensee<\/span> is operating in the Commonwealth. Each license shall be posted prominently in each place of business of the <span class=\"dictionary\">licensee<\/span>. Licenses shall not be transferable or assignable, by operation of <span class=\"dictionary\">law<\/span> or otherwise. No <span class=\"dictionary\">licensee<\/span> shall use any name in the Commonwealth other than the legal name or fictitious name set forth on the license issued by the <span class=\"dictionary\">Commission<\/span>. <a id=\"paragraph-247271\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-2207\/#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> No <span class=\"dictionary\">licensee<\/span> shall open an additional office or relocate any place of business without prior approval of the <span class=\"dictionary\">Commission<\/span>. Applications for such approval shall be made in writing on a form provided by the <span class=\"dictionary\">Commissioner<\/span> and shall be accompanied by payment of a $150 nonrefundable application fee or other reasonable amount that the <span class=\"dictionary\">Commission<\/span> may prescribe by regulation. The application shall be approved unless the <span class=\"dictionary\">Commission<\/span> finds that the applicant does not have the required liquid <span class=\"dictionary\">assets<\/span> or has not conducted business under this chapter efficiently, fairly, in the public <span class=\"dictionary\">interest<\/span>, and in accordance with <span class=\"dictionary\">law<\/span>. The application shall be deemed approved if notice to the contrary has not been mailed by the <span class=\"dictionary\">Commission<\/span> to the applicant within 30 days of the date the application is received by the <span class=\"dictionary\">Commission<\/span>. After approval, the applicant shall give written notice to the <span class=\"dictionary\">Commissioner<\/span> within 10 days of the commencement of business at the additional location or relocated place of business. <a id=\"paragraph-247272\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-2207\/#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> Every <span class=\"dictionary\">licensee<\/span> shall within 10 days notify the <span class=\"dictionary\">Commissioner<\/span>, in writing, of the closing of any business location and of the name, address, and position of each new senior officer, member, partner, or director and provide such other information with respect to any such change as the <span class=\"dictionary\">Commissioner<\/span> may reasonably require. <a id=\"paragraph-247273\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-2207\/#C\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"D\"><p><span class=\"prefix-number\">D.<\/span> Every license shall remain in force until it has been surrendered, revoked, or suspended. The surrender, <span class=\"dictionary\">revocation<\/span>, or suspension of a license shall not affect any preexisting legal right or obligation of such <span class=\"dictionary\">licensee<\/span>. <a id=\"paragraph-247274\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-2207\/#D\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nLICENSES; PLACES OF BUSINESS; CHANGES (\u00a7 6.2-2207)\n\nA. Each license shall state the address or addresses at which the business is to\nbe conducted and shall state fully the legal name of the licensee as well as any\nfictitious name by which the licensee is operating in the Commonwealth. Each\nlicense shall be posted prominently in each place of business of the licensee.\nLicenses shall not be transferable or assignable, by operation of law or\notherwise. No licensee shall use any name in the Commonwealth other than the\nlegal name or fictitious name set forth on the license issued by the Commission.\n\nB. No licensee shall open an additional office or relocate any place of business\nwithout prior approval of the Commission. Applications for such approval shall\nbe made in writing on a form provided by the Commissioner and shall be\naccompanied by payment of a $150 nonrefundable application fee or other\nreasonable amount that the Commission may prescribe by regulation. The\napplication shall be approved unless the Commission finds that the applicant\ndoes not have the required liquid assets or has not conducted business under\nthis chapter efficiently, fairly, in the public interest, and in accordance with\nlaw. The application shall be deemed approved if notice to the contrary has not\nbeen mailed by the Commission to the applicant within 30 days of the date the\napplication is received by the Commission. After approval, the applicant shall\ngive written notice to the Commissioner within 10 days of the commencement of\nbusiness at the additional location or relocated place of business.\n\nC. Every licensee shall within 10 days notify the Commissioner, in writing, of\nthe closing of any business location and of the name, address, and position of\neach new senior officer, member, partner, or director and provide such other\ninformation with respect to any such change as the Commissioner may reasonably\nrequire.\n\nD. Every license shall remain in force until it has been surrendered, revoked,\nor suspended. The surrender, revocation, or suspension of a license shall not\naffect any preexisting legal right or obligation of such licensee.\n\nHISTORY: 2010, c. 477, \u00a7 6.1-487; 2020, cc. 1215, 1258.","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}}