                                 CODE OF VIRGINIA

(EFFECTIVE JULY 1, 2026) ACCESS PARTNERS (§ 6.2-1523.1)

A. Notwithstanding the provisions of §§ 6.2-1501 and 6.2-1518, a licensee may
use the services of one or more access partners, provided that all of the
following conditions are met:

   1. All loans made in connection with an access partner comply with the
   requirements of this chapter.

   2. The licensee maintains a written agreement with each access partner. The
   written agreement shall (i) require the access partner to comply with this
   section and all rules adopted under this section regarding the activities of
   access partners; (ii) give the Commission access to the access partner&#8217;s
   books and records pertaining to the access partner&#8217;s operations under
   the agreement with the licensee in accordance with &#xA7; 6.2-1533 and
   authority to examine the access partner pursuant to &#xA7; 6.2-1531; (iii)
   prohibit the access partner from charging or accepting any fees or
   compensation in connection with a loan from any person, other than what the
   licensee pays to the access partner under the terms of the contract; and (iv)
   require the access partner to keep written records sufficient to ensure
   compliance with this chapter, including records of all loan disbursements and
   loan payments for at least three years.

   3. A licensee shall conduct a due diligence review of all access partners. The
   due diligence shall include a review of the access partner&#8217;s financial
   soundness and legal compliance and the criminal history of the access partner
   and its employees. A licensee shall be responsible for implementing and
   maintaining a reasonable risk-based supervision program to monitor its access
   partners. The licensee shall provide to the Commission any information
   relating to the access partners as the Commissioner prescribes. Such
   information shall be provided in a form and manner as prescribed by the
   Commissioner.

   4. The services of an access partner shall be limited to (i) distributing
   written materials or providing written factual information about loans that
   has been prepared or authorized in writing by the licensee; (ii) explaining
   the loan application process to prospective borrowers or assisting applicants
   to complete a loan application according to procedures the licensee approves;
   (iii) processing credit applications provided by the licensee, which
   applications shall clearly state that the licensee is the lender and disclose
   the licensee&#8217;s contact information and how to submit complaints to the
   Commission; (iv) communicating with the licensee or the applicant about the
   status of applications; (v) obtaining the borrower&#8217;s signature on
   documents prepared by the licensee and delivering final documents to the
   borrower; (vi) disbursing loan proceeds or receiving loan payments, provided
   the access partner provides a plain and complete written receipt at the time
   each disbursement or payment is made; and (vii) operating electronic access
   points through which a prospective borrower may directly access the website of
   the licensee to apply for a loan.

   5. An access partner shall not (i) provide counseling or advice to a borrower
   or prospective borrower with respect to any loan term; (ii) provide
   loan-related marketing material that has not previously been approved by the
   licensee; (iii) negotiate a loan term between a licensee and a prospective
   borrower; (iv) offer information pertaining to a single prospective borrower
   to more than one licensee, except that if a licensee has declined to offer a
   loan to a prospective borrower in writing the access partner may offer
   information pertaining to that borrower to another licensee with whom it has
   an access partner agreement; or (v) offer information pertaining to any
   prospective borrower to any person or entity other than a licensee operating
   under this chapter, subject to clause (iv).

   6. A licensee shall apply any payment a borrower makes to an access partner as
   of the date on which the payment is received by the access partner.

   7. A licensee shall not (i) hold a borrower liable for a failure or delay by
   an access partner in transmitting a payment to the licensee; (ii) knowingly
   conduct business with an access partner that has solicited or accepted fees or
   compensation in connection with a licensee&#8217;s loan other than what is
   specified in the written agreement described in subdivision 2; or (iii)
   directly or indirectly pass on to a borrower any fee or other compensation
   that a licensee pays to an access partner in connection with such
   borrower&#8217;s loan.

B. A licensee shall be responsible for any act of its access partner if such act
would violate any provision of this chapter.

C. The Commission may (i) bar a licensee that violates any part of this chapter
from using the services of specified access partners, or access partners
generally; (ii) subject a licensee to disciplinary action for any violation of
this chapter committed by a contracted access partner; or (iii) bar any person
who violates the requirements of this chapter from performing services pursuant
to this chapter generally or at particular locations.

D. The Commission shall have the authority to conduct investigation and
examination of access partners, provided the scope of any investigation or
examination shall be limited to those books, accounts, records, documents,
materials, and matters reasonably necessary to determine compliance with this
chapter.

E. An access partner location shall not be considered an office for purposes of
&#xA7; 6.2-1508.1.

F. An access partner shall not be required to be licensed under Chapter 19.1
(&#xA7; 6.2-1922 et seq.) to provide the services of an access partner described
in subdivision A 4.

HISTORY: 2020, cc. 1215, 1258; 2025, c. 214.