                                 CODE OF VIRGINIA

BOOKS, ACCOUNTS, AND RECORDS; PLEDGE OR DEPOSIT OF NOTES AND SECURITIES (§
6.2-1533)

A. Each licensee shall maintain in its authorized consumer finance company
office, or at such other place within or outside the Commonwealth as the
Commission may approve, such books, accounts, and records as the Commission may
reasonably require to determine whether the licensee is complying with the
provisions of this chapter and with regulations adopted in furtherance thereof.
Such books, accounts, and records shall be maintained in paper form or, with the
Commission&#8217;s approval, in any electronic format available for examination
on the basis of computer printed reproduction, video display, or other medium.
Any books, accounts, and records not maintained in paper form shall be
convertible into clearly legible paper documents within a reasonable time. Every
licensee shall preserve the books, accounts, and records for at least three
years after making the final entry on any loan recorded therein.

B. If any note or security taken under this chapter shall be pledged as
collateral or deposited within or outside the Commonwealth, the licensee shall
notify promptly the Commission in writing of the identity and location of the
person holding such paper. Prior approval of the Commission shall not be
required. Any pledged or deposited paper shall be subject to examination by the
Commission in accordance with subsection C as fully as if maintained in an
approved location.

C. All books, accounts, and records shall be subject to examination by the
Commission. If such books, accounts, and records are examined outside the
Commonwealth, all reasonable costs associated with such examination shall be
paid by the licensee.

HISTORY: Code 1950, § 6-329; 1966, c. 584, § 6.1-300; 1998, c. 44; 2010, c.
794.