                                 CODE OF VIRGINIA

ADVERTISING (§ 6.2-1819)

A. No person licensed or required to be licensed under this chapter shall use or
cause to be published any advertisement that (i) contains any false, misleading
or deceptive statement or representation; or (ii) identifies the person by any
name other than the name set forth on the license issued by the Commission.

B. Any advertising materials used to promote short-term loans that includes the
amount of any payment, expressed either as a percentage or dollar amount, or the
amount of any finance charge, shall also include a statement of the interest,
fees and charges, expressed as an annual percentage rate, payable using examples
of a $300 loan repaid in three months, a $500 loan repaid in five months, and a
$1,000 loan repaid in 10 months.

C. In any print media advertisement, including any website, used to promote
short-term loans, the disclosure statements described in subsection B shall be
conspicuous. &#8220;Conspicuous&#8221; shall have the meaning set forth in
subdivision (a) (14) of &#xA7; 59.1-501.2. If a single advertisement consists of
multiple pages, folds, or faces, the disclosure requirement applies only to one
page, fold, or face. In a television advertisement used to promote short-term
loans, the visual disclosure legend shall include 20 scan lines in size. In a
radio advertisement or advertisement communicated by telephone used to promote
short-term loans, the disclosure statement shall last at least two seconds and
the statement shall be spoken so that its contents may be easily understood.

HISTORY: 2002, c. 897, § 6.1-462; 2010, c. 794; 2020, cc. 1215, 1258.