CODE OF VIRGINIA

(EFFECTIVE JULY 1, 2026) REPORTS OF CERTAIN EVENTS (§ 6.2-1941)

A. A licensee shall file a report with the Commission within one business day
after the licensee has reason to know of the occurrence of any of the following
events:

   1. The filing of a petition by or against the licensee under the United States
   Bankruptcy Code (11 U.S.C. § 101 et seq.) for bankruptcy or
   reorganization;

   2. The filing of a petition by or against the licensee for receivership, the
   commencement of any other judicial or administrative proceeding for its
   dissolution or reorganization, or the making of a general assignment for the
   benefit of its creditors;

   3. The commencement of a proceeding to revoke or suspend its license or other
   authority to operate in another jurisdiction; or

   4. Such other events as the Commission may prescribe by regulation.

B. A licensee shall file a report with the Commission within three business days
after the licensee has reason to know of the occurrence of any of the following
events:

   1. An indictment, charge, or conviction of the licensee or of a key individual
   or person in control of the licensee for a felony;

   2. An indictment, charge, or conviction of an authorized delegate for a
   felony; or

   3. Such other events as the Commission may prescribe by regulation.

HISTORY: 2025, c. 214.