{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-300.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-300.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-300.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-300.html"}],"law_id":61230,"edition_id":1,"section_id":61230,"structure_id":15855,"section_number":"6.2-300","catch_line":"Definitions","history":"1987, c. 622, \u00a7\u00a7 6.1-330.49, 6.1-330.69, 6.1-330.71; 1991, c. 157; 1996, c. 243; 2010, c. 794.","full_text":"As used in this chapter, unless the context otherwise requires:\n\t\t“Bank” means any national bank, any bank organized under Chapter 8 (\u00a7 6.2-800 et seq.), or any bank incorporated and organized under the laws of another state.\n\t\t“Credit union” means any credit union organized under Chapter 13 (\u00a7 6.2-1300 et seq.) or any credit union incorporated and organized under the laws of another state. “Credit union” shall not include any federal credit union.\n\t\t“First deed of trust” or “first mortgage” includes all deeds of trust and mortgages, and amendments thereto, that are made by the same grantor or mortgagor, secure notes held by the same holder, convey substantially the same real estate, and are superior to all other deeds of trust or mortgages on the real estate.\n\t\t“Grantor” or “mortgagor” includes an owner of real estate, and spouse, who has assumed responsibility for the obligation secured by a mortgage or deed of trust encumbering the real estate.\n\t\t“Loan” means a loan or forbearance of money.\n\t\t“Open-end credit” or “open-end credit plan” means consumer credit extended by a creditor under a plan in which: (i) the creditor reasonably contemplates repeated transactions; (ii) the creditor may impose a finance charge from time to time on an outstanding unpaid balance; and (iii) the amount of credit that may be extended to the consumer during the term of the plan, up to any limit set by the creditor, is generally made available to the extent that any outstanding balance is repaid.\n\t\t“Savings institution” means any savings institution, as defined in \u00a7 6.2-1100, incorporated and organized under the laws of the United States, the Commonwealth, or another state.\n\t\t“Subordinate mortgage or deed of trust” means a mortgage or deed of trust that is subject to a prior mortgage or deed of trust in existence at the time of the making of the loan secured by such subordinate mortgage or deed of trust.","order_by":null,"text":{"0":{"id":223735,"text":"As used in this chapter, unless the context otherwise requires:\n\t\t“Bank” means any national bank, any bank organized under Chapter 8 (\u00a7 6.2-800 et seq.), or any bank incorporated and organized under the laws of another state.\n\t\t“Credit union” means any credit union organized under Chapter 13 (\u00a7 6.2-1300 et seq.) or any credit union incorporated and organized under the laws of another state. “Credit union” shall not include any federal credit union.\n\t\t“First deed of trust” or “first mortgage” includes all deeds of trust and mortgages, and amendments thereto, that are made by the same grantor or mortgagor, secure notes held by the same holder, convey substantially the same real estate, and are superior to all other deeds of trust or mortgages on the real estate.\n\t\t“Grantor” or “mortgagor” includes an owner of real estate, and spouse, who has assumed responsibility for the obligation secured by a mortgage or deed of trust encumbering the real estate.\n\t\t“Loan” means a loan or forbearance of money.\n\t\t“Open-end credit” or “open-end credit plan” means consumer credit extended by a creditor under a plan in which: (i) the creditor reasonably contemplates repeated transactions; (ii) the creditor may impose a finance charge from time to time on an outstanding unpaid balance; and (iii) the amount of credit that may be extended to the consumer during the term of the plan, up to any limit set by the creditor, is generally made available to the extent that any outstanding balance is repaid.\n\t\t“Savings institution” means any savings institution, as defined in \u00a7 6.2-1100, incorporated and organized under the laws of the United States, the Commonwealth, or another state.\n\t\t“Subordinate mortgage or deed of trust” means a mortgage or deed of trust that is subject to a prior mortgage or deed of trust in existence at the time of the making of the loan secured by such subordinate mortgage or deed of trust.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":15855,"edition_id":1,"name":"Definitions","identifier":"1","label":"article","depth":4,"order_by":1,"parent_id":13814,"metadata":{},"date_created":"2026-06-26 04:00:35","date_modified":"2026-06-26 04:00:35","permalink":{"id":263335,"object_type":"structure","relational_id":15855,"identifier":"1","token":"6.2\/I\/3\/1","url":"\/6.2\/I\/3\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13814,"edition_id":1,"name":"Interest and Usury","identifier":"3","label":"chapter","depth":3,"order_by":1,"parent_id":12853,"metadata":{},"date_created":"2026-06-26 03:45:57","date_modified":"2026-06-26 03:45:57","permalink":{"id":263333,"object_type":"structure","relational_id":13814,"identifier":"3","token":"6.2\/I\/3","url":"\/6.2\/I\/3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12853,"edition_id":1,"name":"General Provisions","identifier":"I","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":263251,"object_type":"structure","relational_id":12853,"identifier":"I","token":"6.2\/I","url":"\/6.2\/I\/","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":61230,"structure_id":15855,"section_number":"6.2-300","catch_line":"Definitions","url":"\/6.2-300\/","token":"6.2\/I\/3\/1\/6.2-300","metadata":false}],"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-300\/","history_text":"

This law was first created in 1987. The record of its establishment is cataloged in chapter 622 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. Unfortunately, the 1987 \u201cActs\u201d aren\u2019t available online. It has been modified 3 times. 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. Those modifications are as follows: in 1991, chapter 157; in 1996, chapter 243<\/a>; in 2010, chapter 794<\/a>.<\/p>","references":[{"id":85938,"section_number":"36-55.33:1","catch_line":"Mortgage loan terms and conditions","order_by":null,"url":"\/36-55.33_1\/"},{"id":59870,"section_number":"38.2-3308","catch_line":"Policy loans","order_by":null,"url":"\/38.2-3308\/"},{"id":76898,"section_number":"6.2-1417","catch_line":"Escrow accounts","order_by":null,"url":"\/6.2-1417\/"},{"id":61182,"section_number":"6.2-1614","catch_line":"Prohibitions applicable to mortgage lenders and mortgage brokers","order_by":null,"url":"\/6.2-1614\/"},{"id":83877,"section_number":"6.2-1626","catch_line":"Authority of Attorney General; referral by Commission to Attorney General","order_by":null,"url":"\/6.2-1626\/"},{"id":73847,"section_number":"6.2-1627","catch_line":"Private actions","order_by":null,"url":"\/6.2-1627\/"},{"id":86576,"section_number":"6.2-411","catch_line":"Requirements relating to insurance","order_by":null,"url":"\/6.2-411\/"},{"id":61310,"section_number":"6.2-423","catch_line":"Prepayment of loans secured by certain subordinate mortgages or deeds of trust; rebates for unearned interest","order_by":null,"url":"\/6.2-423\/"},{"id":68015,"section_number":"6.2-433","catch_line":"Amendment to open-end credit contract or plan by bank or savings institution","order_by":null,"url":"\/6.2-433\/"},{"id":56803,"section_number":"6.2-434","catch_line":"Law governing open-end credit contract or plan by bank or savings institution","order_by":null,"url":"\/6.2-434\/"},{"id":80025,"section_number":"6.2-435","catch_line":"Law governing open-end credit contract or plan by seller or lender","order_by":null,"url":"\/6.2-435\/"},{"id":64536,"section_number":"6.2-885","catch_line":"Investment in stock or securities of controlled subsidiary corporations","order_by":null,"url":"\/6.2-885\/"}],"refers_to":[{"id":68689,"section_number":"6.2-1100","catch_line":"Definitions","order_by":null,"url":"\/6.2-1100\/"},{"id":84320,"section_number":"6.2-1300","catch_line":"Definitions","order_by":null,"url":"\/6.2-1300\/"},{"id":86656,"section_number":"6.2-800","catch_line":"Definitions","order_by":null,"url":"\/6.2-800\/"}],"permalink":{"id":263337,"object_type":"law","relational_id":61230,"identifier":"6.2-300","token":"6.2\/I\/3\/1\/6.2-300","url":"\/6.2-300\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-300\/","token":"6.2\/I\/3\/1\/6.2-300","dublin_core":{"Title":"Definitions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-300","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

As used in this chapter, unless the context otherwise requires:\n\t\t“Bank<\/span>” means any national bank<\/span>, any bank<\/span> organized under Chapter 8 (\u00a7 6.2-800<\/a> et seq.), or any bank<\/span> incorporated and organized under the laws<\/span> of another state.\n\t\t“Credit union<\/span>” means any credit union<\/span> organized under Chapter 13 (\u00a7 6.2-1300<\/a> et seq.) or any credit union<\/span> incorporated and organized under the laws<\/span> of another state. “Credit union<\/span>” shall not include any federal credit union<\/span>.\n\t\t“First deed of trust<\/span>” or “first mortgage<\/span>” includes all deeds of trust and mortgages, and amendments thereto, that are made by the same grantor<\/span> or mortgagor<\/span>, secure notes held by the same holder, convey substantially the same real estate, and are superior to all other deeds of trust or mortgages on the real estate.\n\t\t“Grantor<\/span>” or “mortgagor<\/span>” includes an owner of real estate, and spouse, who has assumed responsibility for the obligation secured by a mortgage or deed of trust encumbering the real estate.\n\t\t“Loan<\/span>” means a loan<\/span> or forbearance of money.\n\t\t“Open-end credit” or “open-end credit plan<\/span>” means consumer credit extended by a creditor<\/span> under a plan in which: (i) the creditor<\/span> reasonably contemplates repeated transactions; (ii) the creditor<\/span> may impose a finance charge from time to time on an outstanding unpaid balance; and (iii) the amount of credit that may be extended to the consumer during the term of the plan, up to any limit set by the creditor<\/span>, is generally made available to the extent that any outstanding balance is repaid.\n\t\t“Savings institution<\/span>” means any savings institution<\/span>, as defined in \u00a7 6.2-1100<\/a>, incorporated and organized under the laws<\/span> of the United States, the Commonwealth, or another state.\n\t\t“Subordinate mortgage or deed of trust<\/span>” means a mortgage or deed of trust that is subject to a prior mortgage or deed of trust in existence at the time of the making of the loan<\/span> secured by such subordinate mortgage or deed of trust<\/span>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDEFINITIONS (\u00a7 6.2-300)\n\nAs used in this chapter, unless the context otherwise requires:\n\t\t“Bank” means any national bank, any bank organized under Chapter 8\n(\u00a7 6.2-800 et seq.), or any bank incorporated and organized under the laws of\nanother state.\n\t\t“Credit union” means any credit union organized under Chapter 13\n(\u00a7 6.2-1300 et seq.) or any credit union incorporated and organized under the\nlaws of another state. “Credit union” shall not include any federal\ncredit union.\n\t\t“First deed of trust” or “first mortgage” includes all\ndeeds of trust and mortgages, and amendments thereto, that are made by the same\ngrantor or mortgagor, secure notes held by the same holder, convey substantially\nthe same real estate, and are superior to all other deeds of trust or mortgages\non the real estate.\n\t\t“Grantor” or “mortgagor” includes an owner of real\nestate, and spouse, who has assumed responsibility for the obligation secured by\na mortgage or deed of trust encumbering the real estate.\n\t\t“Loan” means a loan or forbearance of money.\n\t\t“Open-end credit” or “open-end credit plan” means\nconsumer credit extended by a creditor under a plan in which: (i) the creditor\nreasonably contemplates repeated transactions; (ii) the creditor may impose a\nfinance charge from time to time on an outstanding unpaid balance; and (iii) the\namount of credit that may be extended to the consumer during the term of the\nplan, up to any limit set by the creditor, is generally made available to the\nextent that any outstanding balance is repaid.\n\t\t“Savings institution” means any savings institution, as defined in\n\u00a7 6.2-1100, incorporated and organized under the laws of the United States, the\nCommonwealth, or another state.\n\t\t“Subordinate mortgage or deed of trust” means a mortgage or deed\nof trust that is subject to a prior mortgage or deed of trust in existence at\nthe time of the making of the loan secured by such subordinate mortgage or deed\nof trust.\n\nHISTORY: 1987, c. 622, \u00a7\u00a7 6.1-330.49, 6.1-330.69, 6.1-330.71; 1991, c. 157;\n1996, c. 243; 2010, c. 794.","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}}