                                 CODE OF VIRGINIA

ACTS OF OFFICERS, DIRECTORS, PARTNERS, AND SALESPERSONS (§ 46.2-1574)

If a licensee or registrant is a partnership or corporation, it shall be
sufficient cause for the denial, suspension, or revocation of a license or
certificate of dealer registration that any officer, director, or trustee of the
partnership or corporation, or any member in the case of a partnership or the
dealer-operator, has committed any act or omitted any duty which would be cause
for refusing, suspending, or revoking a license or certificate of dealer
registration issued to him as an individual under this chapter. Each licensee or
registrant shall be responsible for the acts of any of his salespersons while
acting as his agent, if the licensee approved of those acts or had knowledge of
those acts or other similar acts and after such knowledge retained the benefit,
proceeds, profits, or advantages accruing from those acts or otherwise ratified
those acts.

HISTORY: 1988, c. 865, § 46.1-550.5:33; 1989, c. 727.