                                 CODE OF VIRGINIA

REGISTRATION; FEES (§ 59.1-434.2)

A. It shall be unlawful for any provider to offer, advertise, or execute or
cause to be executed by the purchaser any home service contract for property in
the Commonwealth unless the provider at the time of the solicitation, offer,
advertisement, sale, or execution of a contract has been properly registered
with the Commissioner. The registration application and renewal shall be on a
form provided by the Commissioner and shall (i) disclose the address, ownership,
and nature of business of the provider; (ii) be renewed annually on July 1;
(iii) be accompanied by a fee of $300 per registration and annual renewal; and
(iv) be accompanied by an audited financial statement per registration and
annual renewal that is prepared in accordance with generally accepted accounting
principles or statutory accounting principles, at the election of the provider.
A registration application or registration renewal shall not be considered filed
until all required information and fees are received by the Commissioner and
taxes are paid pursuant to Article 10 (&#xA7; 58.1-400 et seq.) of Chapter 3 of
Title 58.1. Notwithstanding &#xA7; 58.1-3 or any other provision of law, the
Department of Taxation and the Department of Agriculture and Consumer Services
may exchange information regarding providers for purposes of enforcing the
provisions of this chapter. A provider shall not be required by this chapter to
file with the Commissioner or any other entity or agency copies of the
provider&#8217;s home service contract forms or information regarding the rates
or charges under the provider&#8217;s home service contracts. Any provider that
fails to register prior to the sale of a home service contract shall pay a late
filing fee of $100 for each 30-day period, or portion thereof, that the
registration is late. A provider that fails to timely renew its registration
shall pay a late fee of $50 for each 30-day period, or portion thereof, that the
annual renewal filing is late. The late fees authorized by this subsection shall
be in addition to all other penalties authorized by law.

B. All fees shall be remitted to the State Treasurer and shall be placed to the
credit and in the special fund of the Department of Agriculture and Consumer
Services to be used in the administration of this chapter.

HISTORY: 2017, c. 727.