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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>56136</law_id><section_number>6.2-2603</section_number><catch_line>Application for license; form; content; fee</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>6.2-2602</reference><reference>6.2-2606</reference></referred_to_by><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="IV">Other Financial Activities</unit><unit label="chapter" level="3" order_by="1" identifier="26">Qualified Education Loan Servicers</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> An application for a license under this chapter shall be made in writing and on a form provided by the <span class="dictionary">Commission</span>. <a id="paragraph-205730" class="section-permalink" href="https://vacode.org/6.2-2603/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> The application shall set forth: <a id="paragraph-205731" class="section-permalink" href="https://vacode.org/6.2-2603/#B"><i class="fa fa-link"/></a></p></section>
						<section id="B1" class="indent-1"><p><span class="prefix-number">1.</span> The name and address of the applicant, the name and address of each senior officer, and (i) if the applicant is a partnership, firm, or association, the name and address of each partner or member; (ii) if the applicant is a corporation or limited liability company, the name and address of each director, member, registered agent, and <span class="dictionary">principal</span>; or (iii) if the applicant is a business trust, the name and address of each trustee; <a id="paragraph-205732" class="section-permalink" href="https://vacode.org/6.2-2603/#B1"><i class="fa fa-link"/></a></p></section>
						<section id="B2" class="indent-1"><p><span class="prefix-number">2.</span> The address of the <span class="dictionary">principal</span> place of business to be licensed; <a id="paragraph-205733" class="section-permalink" href="https://vacode.org/6.2-2603/#B2"><i class="fa fa-link"/></a></p></section>
						<section id="B3" class="indent-1"><p><span class="prefix-number">3.</span> Such other information concerning the financial responsibility, background, experience, and general fitness of the applicant and its members, senior officers, directors, trustees, and <span class="dictionary">principals</span> as the <span class="dictionary">Commissioner</span> may require; and <a id="paragraph-205734" class="section-permalink" href="https://vacode.org/6.2-2603/#B3"><i class="fa fa-link"/></a></p></section>
						<section id="B4" class="indent-1"><p><span class="prefix-number">4.</span> Any other pertinent information that the <span class="dictionary">Commissioner</span> may require. <a id="paragraph-205735" class="section-permalink" href="https://vacode.org/6.2-2603/#B4"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">C.</span> The application shall be accompanied by payment of a nonrefundable application fee as prescribed by the <span class="dictionary">Commission</span>. The fee shall not be abated by surrender, suspension, or <span class="dictionary">revocation</span> of the license. <a id="paragraph-205736" class="section-permalink" href="https://vacode.org/6.2-2603/#C"><i class="fa fa-link"/></a></p></section>
						<section id="D"><p><span class="prefix-number">D.</span> If the <span class="dictionary">Commissioner</span> requests information to complete a deficient application and the information is not received within 60 days of the <span class="dictionary">Commissioner</span>&#x2019;s request, the application shall be deemed abandoned unless a request for an extension of time is received and approved by the <span class="dictionary">Commissioner</span> prior to the expiration of the 60-day period. However, this subsection shall not be construed to prohibit the <span class="dictionary">Commission</span> from denying a license application that does not meet the requirements of this chapter. <a id="paragraph-205737" class="section-permalink" href="https://vacode.org/6.2-2603/#D"><i class="fa fa-link"/></a></p></section></text><history>2020, cc. 1198, 1250.</history><metadata></metadata></law>
