{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-2615.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-2615.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-2615.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-2615.html"}],"law_id":76191,"edition_id":1,"section_id":76191,"structure_id":12857,"section_number":"6.2-2615","catch_line":"Suspension or revocation of license","history":"2020, cc. 1198, 1250.","full_text":"A\n\nThe Commission may suspend or revoke any license issued under this chapter upon any of the following grounds:1\n\nAny ground for denial of a license under this chapter;2\n\nAny violation of the provisions of this chapter or regulations adopted by the Commission pursuant thereto, or a violation of any other law or regulation applicable to the conduct of the licensee’s business;3\n\nA course of conduct consisting of the failure to perform written agreements with qualified education loan borrowers;4\n\nFailure to account for funds received or disbursed to the satisfaction of the person supplying or receiving qualified education loan funds;5\n\nConviction of any felony or of a misdemeanor involving fraud, misrepresentation, or deceit;6\n\nEntry of a judgment against the licensee involving fraud, misrepresentation, or deceit;7\n\nEntry of a federal or state administrative order against the licensee for violation of any law or regulation applicable to the conduct of the licensee’s business;8\n\nRefusal to permit an investigation or examination by the Commission;9\n\nFailure to pay any fee or assessment imposed by this chapter; or10\n\nFailure to comply with any order of the Commission.B\n\nFor the purposes of this section, acts of any senior officer, director, member, partner, trustee, or principal shall be deemed acts of the licensee.","order_by":null,"text":{"0":{"id":273612,"text":"The Commission may suspend or revoke any license issued under this chapter upon any of the following grounds:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":273613,"text":"Any ground for denial of a license under this chapter;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":273614,"text":"Any violation of the provisions of this chapter or regulations adopted by the Commission pursuant thereto, or a violation of any other law or regulation applicable to the conduct of the licensee’s business;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":273615,"text":"A course of conduct consisting of the failure to perform written agreements with qualified education loan borrowers;","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":273616,"text":"Failure to account for funds received or disbursed to the satisfaction of the person supplying or receiving qualified education loan funds;","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"A5"},"5":{"id":273617,"text":"Conviction of any felony or of a misdemeanor involving fraud, misrepresentation, or deceit;","type":"section","prefixes":["A","5"],"prefix":"5","entire_prefix":"A5","prefix_anchor":"A5","level":2,"prior_prefix":"A4","next_prefix":"A6"},"6":{"id":273618,"text":"Entry of a judgment against the licensee involving fraud, misrepresentation, or deceit;","type":"section","prefixes":["A","6"],"prefix":"6","entire_prefix":"A6","prefix_anchor":"A6","level":2,"prior_prefix":"A5","next_prefix":"A7"},"7":{"id":273619,"text":"Entry of a federal or state administrative order against the licensee for violation of any law or regulation applicable to the conduct of the licensee’s business;","type":"section","prefixes":["A","7"],"prefix":"7","entire_prefix":"A7","prefix_anchor":"A7","level":2,"prior_prefix":"A6","next_prefix":"A8"},"8":{"id":273620,"text":"Refusal to permit an investigation or examination by the Commission;","type":"section","prefixes":["A","8"],"prefix":"8","entire_prefix":"A8","prefix_anchor":"A8","level":2,"prior_prefix":"A7","next_prefix":"A9"},"9":{"id":273621,"text":"Failure to pay any fee or assessment imposed by this chapter; or","type":"section","prefixes":["A","9"],"prefix":"9","entire_prefix":"A9","prefix_anchor":"A9","level":2,"prior_prefix":"A8","next_prefix":"A10"},"10":{"id":273622,"text":"Failure to comply with any order of the Commission.","type":"section","prefixes":["A","10"],"prefix":"10","entire_prefix":"A10","prefix_anchor":"A10","level":2,"prior_prefix":"A9","next_prefix":"B"},"11":{"id":273623,"text":"For the purposes of this section, acts of any senior officer, director, member, partner, trustee, or principal shall be deemed acts of the licensee.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A10"}},"ancestry":[{"id":12857,"edition_id":1,"name":"Qualified Education Loan Servicers","identifier":"26","label":"chapter","depth":3,"order_by":1,"parent_id":12856,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":267179,"object_type":"structure","relational_id":12857,"identifier":"26","token":"6.2\/IV\/26","url":"\/6.2\/IV\/26\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12856,"edition_id":1,"name":"Other Financial Activities","identifier":"IV","label":"subtitle","depth":2,"order_by":1,"parent_id":12852,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":267075,"object_type":"structure","relational_id":12856,"identifier":"IV","token":"6.2\/IV","url":"\/6.2\/IV\/","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":79869,"structure_id":12857,"section_number":"6.2-2600","catch_line":"Definitions","url":"\/6.2-2600\/","token":"6.2\/IV\/26\/6.2-2600","metadata":false},{"id":56387,"structure_id":12857,"section_number":"6.2-2601","catch_line":"License requirement; exceptions","url":"\/6.2-2601\/","token":"6.2\/IV\/26\/6.2-2601","metadata":false},{"id":62840,"structure_id":12857,"section_number":"6.2-2602","catch_line":"Licensure of qualified education loan servicers; automatic issuance of license for federal student loan servicing contractors","url":"\/6.2-2602\/","token":"6.2\/IV\/26\/6.2-2602","metadata":false},{"id":56136,"structure_id":12857,"section_number":"6.2-2603","catch_line":"Application for license; form; content; fee","url":"\/6.2-2603\/","token":"6.2\/IV\/26\/6.2-2603","metadata":false},{"id":86504,"structure_id":12857,"section_number":"6.2-2604","catch_line":"Bond required","url":"\/6.2-2604\/","token":"6.2\/IV\/26\/6.2-2604","metadata":false},{"id":71805,"structure_id":12857,"section_number":"6.2-2605","catch_line":"Investigation of applications","url":"\/6.2-2605\/","token":"6.2\/IV\/26\/6.2-2605","metadata":false},{"id":77205,"structure_id":12857,"section_number":"6.2-2606","catch_line":"Qualifications","url":"\/6.2-2606\/","token":"6.2\/IV\/26\/6.2-2606","metadata":false},{"id":56065,"structure_id":12857,"section_number":"6.2-2607","catch_line":"Licenses; place of business; changes; renewal","url":"\/6.2-2607\/","token":"6.2\/IV\/26\/6.2-2607","metadata":false},{"id":79671,"structure_id":12857,"section_number":"6.2-2608","catch_line":"Retention of records; responding to the Bureau","url":"\/6.2-2608\/","token":"6.2\/IV\/26\/6.2-2608","metadata":false},{"id":76529,"structure_id":12857,"section_number":"6.2-2609","catch_line":"Acquisition of control; application","url":"\/6.2-2609\/","token":"6.2\/IV\/26\/6.2-2609","metadata":false},{"id":82485,"structure_id":12857,"section_number":"6.2-2610","catch_line":"Prohibited activities; compliance with federal laws and regulations","url":"\/6.2-2610\/","token":"6.2\/IV\/26\/6.2-2610","metadata":false},{"id":77018,"structure_id":12857,"section_number":"6.2-2611","catch_line":"Affirmative acts required of qualified education loan servicers","url":"\/6.2-2611\/","token":"6.2\/IV\/26\/6.2-2611","metadata":false},{"id":65901,"structure_id":12857,"section_number":"6.2-2612","catch_line":"Reporting requirements","url":"\/6.2-2612\/","token":"6.2\/IV\/26\/6.2-2612","metadata":false},{"id":80772,"structure_id":12857,"section_number":"6.2-2613","catch_line":"Investigations; examinations","url":"\/6.2-2613\/","token":"6.2\/IV\/26\/6.2-2613","metadata":false},{"id":61083,"structure_id":12857,"section_number":"6.2-2614","catch_line":"Annual fees","url":"\/6.2-2614\/","token":"6.2\/IV\/26\/6.2-2614","metadata":false},{"id":76191,"structure_id":12857,"section_number":"6.2-2615","catch_line":"Suspension or revocation of license","url":"\/6.2-2615\/","token":"6.2\/IV\/26\/6.2-2615","metadata":false},{"id":81753,"structure_id":12857,"section_number":"6.2-2616","catch_line":"Notice of proposed suspension or revocation","url":"\/6.2-2616\/","token":"6.2\/IV\/26\/6.2-2616","metadata":false},{"id":53994,"structure_id":12857,"section_number":"6.2-2617","catch_line":"Cease and desist orders","url":"\/6.2-2617\/","token":"6.2\/IV\/26\/6.2-2617","metadata":false},{"id":63307,"structure_id":12857,"section_number":"6.2-2618","catch_line":"Civil penalties","url":"\/6.2-2618\/","token":"6.2\/IV\/26\/6.2-2618","metadata":false},{"id":79951,"structure_id":12857,"section_number":"6.2-2619","catch_line":"Private cause of action","url":"\/6.2-2619\/","token":"6.2\/IV\/26\/6.2-2619","metadata":false},{"id":63154,"structure_id":12857,"section_number":"6.2-2620","catch_line":"Investigating and restraining prohibited acts","url":"\/6.2-2620\/","token":"6.2\/IV\/26\/6.2-2620","metadata":false},{"id":60246,"structure_id":12857,"section_number":"6.2-2621","catch_line":"Violation of the Virginia Consumer Protection Act","url":"\/6.2-2621\/","token":"6.2\/IV\/26\/6.2-2621","metadata":false},{"id":69784,"structure_id":12857,"section_number":"6.2-2622","catch_line":"Regulations","url":"\/6.2-2622\/","token":"6.2\/IV\/26\/6.2-2622","metadata":false}],"previous_section":{"id":61083,"structure_id":12857,"section_number":"6.2-2614","catch_line":"Annual fees","url":"\/6.2-2614\/","token":"6.2\/IV\/26\/6.2-2614","metadata":false},"next_section":{"id":81753,"structure_id":12857,"section_number":"6.2-2616","catch_line":"Notice of proposed suspension or revocation","url":"\/6.2-2616\/","token":"6.2\/IV\/26\/6.2-2616","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-2615\/","history_text":"

This law was first created in 2020. The record of its establishment is cataloged in chapters 1198<\/a> and 1250<\/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":82485,"section_number":"6.2-2610","catch_line":"Prohibited activities; compliance with federal laws and regulations","order_by":null,"url":"\/6.2-2610\/"},{"id":81753,"section_number":"6.2-2616","catch_line":"Notice of proposed suspension or revocation","order_by":null,"url":"\/6.2-2616\/"}],"refers_to":false,"permalink":{"id":267241,"object_type":"law","relational_id":76191,"identifier":"6.2-2615","token":"6.2\/IV\/26\/6.2-2615","url":"\/6.2-2615\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-2615\/","token":"6.2\/IV\/26\/6.2-2615","dublin_core":{"Title":"Suspension or revocation of license","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-2615","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The Commission<\/span> may suspend or revoke any license issued under this chapter upon any of the following grounds: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Any ground for denial of a license under this chapter; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Any violation of the provisions of this chapter or regulations adopted by the Commission<\/span> pursuant thereto, or a violation of any other law<\/span> or regulation applicable to the conduct of the licensee<\/span>’s business; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> A course of conduct consisting of the failure to perform written agreements with qualified education loan<\/span> borrowers<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Failure to account for funds received or disbursed to the satisfaction of the person<\/span> supplying or receiving qualified education loan<\/span> funds; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Conviction<\/span> of any felony<\/span> or of a misdemeanor<\/span> involving fraud<\/span>, misrepresentation, or deceit; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> Entry of a judgment<\/span> against the licensee<\/span> involving fraud<\/span>, misrepresentation, or deceit; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> Entry of a federal or state administrative order<\/span> against the licensee<\/span> for violation of any law<\/span> or regulation applicable to the conduct of the licensee<\/span>’s business; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> Refusal to permit an investigation or examination by the Commission<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

9.<\/span> Failure to pay any fee or assessment imposed by this chapter; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

10.<\/span> Failure to comply with any order<\/span> of the Commission<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> For the purposes of this section, acts of any senior officer, director, member, partner, trustee, or principal<\/span> shall be deemed acts of the licensee<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSUSPENSION OR REVOCATION OF LICENSE (\u00a7 6.2-2615)\n\nA. The Commission may suspend or revoke any license issued under this chapter\nupon any of the following grounds:\n\n 1. Any ground for denial of a license under this chapter;\n\n 2. Any violation of the provisions of this chapter or regulations adopted by\n the Commission pursuant thereto, or a violation of any other law or regulation\n applicable to the conduct of the licensee’s business;\n\n 3. A course of conduct consisting of the failure to perform written agreements\n with qualified education loan borrowers;\n\n 4. Failure to account for funds received or disbursed to the satisfaction of\n the person supplying or receiving qualified education loan funds;\n\n 5. Conviction of any felony or of a misdemeanor involving fraud,\n misrepresentation, or deceit;\n\n 6. Entry of a judgment against the licensee involving fraud,\n misrepresentation, or deceit;\n\n 7. Entry of a federal or state administrative order against the licensee for\n violation of any law or regulation applicable to the conduct of the\n licensee’s business;\n\n 8. Refusal to permit an investigation or examination by the Commission;\n\n 9. Failure to pay any fee or assessment imposed by this chapter; or\n\n 10. Failure to comply with any order of the Commission.\n\nB. For the purposes of this section, acts of any senior officer, director,\nmember, partner, trustee, or principal shall be deemed acts of the licensee.\n\nHISTORY: 2020, cc. 1198, 1250.","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}}