                                 CODE OF VIRGINIA

ASSIGNMENT OF RIGHT TO RECEIVE VETERANS&#8217; BENEFITS (§ 2.2-2001.5)

A. As used in this section:
			&#8220;Assignment of right to receive veterans&#8217; benefits&#8221; means
any financial transaction in which a person provides a cash payment to a veteran
in consideration for the veteran&#8217;s assignment of his right to receive
future pension or retirement benefits, without regard to whether the transaction
is characterized or structured as a loan, assignment, loan secured by
assignment, pledge, or other arrangement.
			&#8220;Pension or retirement benefits&#8221; means any periodic benefit
payable to a veteran by an agency of the federal government on account of the
veteran&#8217;s service in the Armed Forces of the United States, including any
military retirement, pension, or disability benefit payments.

B. No person shall advertise, arrange, offer, or enter into any assignment of
right to receive veterans&#8217; benefits if such assignment of right to receive
veterans&#8217; benefits is prohibited or void under the provisions of 37 U.S.C.
&#xA7; 701 or 38 U.S.C. &#xA7; 5301(a).

C. A violation of this section constitutes a prohibited practice under the
provisions of &#xA7; 59.1-200 and shall be subject to any and all of the
enforcement provisions of the Virginia Consumer Protection Act (&#xA7; 59.1-196
et seq.).

HISTORY: 2020, c. 438.