A. A lobbyist or a lobbyist’s principal may terminate the lobbyist’s status as a lobbyist for such principal at any time prior to the expiration of his registration. Upon termination, the lobbyist may file the report required under § 2.2-426 at any time, but shall file the report no later than the deadline set forth in that section. Such report shall indicate that the lobbyist intends to use the report as the final accounting of lobbying activity and shall include information complete through the last day of lobbying activity and the effective date of the termination. The report shall be signed by the lobbyist’s principal as otherwise required.
B. A lobbyist’s principal who terminates the services of a lobbyist prior to the expiration of the lobbyist’s registration shall provide actual notice to the lobbyist. Such notice shall inform the lobbyist that he is required to file the report required under § 2.2-426 no later than the deadline set forth in that section and that the lobbyist’s failure to file such report by the deadline shall result in the assessment of civil penalties against the lobbyist pursuant to § 2.2-431. The lobbyist’s principal shall also notify the Secretary of the Commonwealth of the early termination in accordance with subsection B of § 2.2-423.