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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>84357</law_id><section_number>6.2-1508.1</section_number><catch_line>Additional offices; relocation of offices</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="6.2">Financial Institutions and Services</unit><unit label="subtitle" level="2" order_by="1" identifier="III">Other Regulated Providers of Financial Services</unit><unit label="chapter" level="3" order_by="1" identifier="15">Consumer Finance Companies</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> No <span class="dictionary">licensee</span> shall open an additional office without prior approval of the <span class="dictionary">Commission</span>. Applications for such approval shall be made in writing on a form prescribed by the <span class="dictionary">Commissioner</span> and shall be accompanied by payment of a $150 nonrefundable application fee. 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 <span class="dictionary">surety</span> <span class="dictionary">bond</span> or has not conducted business under this chapter efficiently, fairly, in the public interest, and in accordance with the <span class="dictionary">law</span>. The application shall be deemed approved if notice to the contrary has not been sent 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>. <a id="paragraph-302334" class="section-permalink" href="https://vacode.org/6.2-1508.1/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> Prior approval of the <span class="dictionary">Commission</span> shall not be required in the event that a <span class="dictionary">licensee</span> needs to temporarily open an office due to a natural disaster or act of God. However, the <span class="dictionary">licensee</span> shall notify the <span class="dictionary">Commission</span> within 10 days of opening the office. <a id="paragraph-302335" class="section-permalink" href="https://vacode.org/6.2-1508.1/#B"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">C.</span> A <span class="dictionary">licensee</span> shall notify the <span class="dictionary">Commission</span> in writing within 10 days of relocating any approved office. <a id="paragraph-302336" class="section-permalink" href="https://vacode.org/6.2-1508.1/#C"><i class="fa fa-link"/></a></p></section></text><history>2020, cc. 1215, 1258.</history><metadata></metadata></law>
