                                 CODE OF VIRGINIA

LICENSES; PLACES OF OFFICES; CHANGES (§ 6.2-1807)

A. Each license shall:

   1. State the address of each approved office at which the business is to be
   conducted;

   2. State fully the name of the licensee; and

   3. Be prominently posted in each office of the licensee.

B. No licensee shall:

   1. Use any name other than the name set forth on the license issued by the
   Commission; or

   2. Open an additional office or relocate any office without prior approval of
   the Commission.

C. Applications for Commission approval to open an additional office or relocate
any office shall be made in writing on a form provided by the Commissioner and
shall be accompanied by payment of a $150 nonrefundable application fee or other
reasonable amount as the Commission may prescribe by regulation. The application
shall be approved unless the Commission finds that the applicant does not have
the required liquid assets or has not conducted business under this chapter
efficiently, fairly, in the public interest, and in accordance with law. The
application shall be deemed approved if notice to the contrary has not been
mailed by the Commission to the applicant within 30 days of the date the
application is received by the Commission. After approval, the applicant shall
give written notice to the Commissioner within 10 days of the commencement of
business at the additional office or relocated office.

D. Every licensee shall within 10 days notify the Commissioner, in writing, of
the closing of any office and of the name, address, and position of each new
senior officer, member, partner, or director and provide such other information
with respect to any such change as the Commissioner may reasonably require.

E. Licenses shall:

   1. Not be transferable or assignable, by operation of law or otherwise; and

   2. Remain in force until they have been surrendered, revoked, or suspended.
   The surrender, revocation, or suspension of a license shall not affect any
   preexisting legal right or obligation of the licensee.

HISTORY: 2002, c. 897, § 6.1-451; 2010, c. 794; 2020, cc. 1215, 1258.