                                 CODE OF VIRGINIA

(REPEALED EFFECTIVE JULY 1, 2026) DEFINITIONS. (§ 6.2-1900)

As used in this chapter, unless the context requires a different meaning:
		&#8220;Authorized delegate&#8221; means a person designated or appointed by a
licensee to sell money orders or provide money transmission services on behalf
of the licensee.
		&#8220;Licensee&#8221; means a person licensed under this chapter to engage in
the business of selling money orders or the business of money transmission, or
both.
		&#8220;Member&#8221; means a person who owns or controls a 10 percent or
greater interest in a limited liability company.
		&#8220;Monetary value&#8221; means a medium of exchange, whether or not
redeemable in money.
		&#8220;Money order&#8221; means a check, traveler&#8217;s check, draft, or
other instrument for the transmission or payment of money or monetary value
whether or not negotiable.
		&#8220;Money order seller&#8221; means a person engaged in the business of
selling money orders.
		&#8220;Money transmission&#8221; means receiving money or monetary value for
transmission by wire, facsimile, electronic means or other means or selling or
issuing stored value.
		&#8220;Money transmitter&#8221; means a person engaged in the business of
money transmission.
		&#8220;Nationwide Multistate Licensing System and Registry&#8221; or
&#8220;Registry&#8221; means the licensing and registration system operated by
the State Regulatory Registry LLC.
		&#8220;Outstanding&#8221; means:

1. With respect to a money order, a money order that has been issued and sold
directly by a licensee, or sold by an authorized delegate of the licensee and
reported to the licensee, that has not yet been paid by or on behalf of the
licensee; or

2. With respect to a money transmission transaction, a money transmission
transaction for which the licensee, directly or through an authorized delegate
of the licensee, has received money or monetary value from a customer for
transmission, but has not yet (i) completed the money transmission transaction
by delivering the money or monetary value to the person designated by the
customer, or (ii) refunded the money or monetary value to the customer.
			&#8220;Principal&#8221; means any person who, directly or indirectly, owns or
controls a 10 percent or greater interest in any form of entity.
			&#8220;Stored value&#8221; means monetary value that is evidenced by an
electronic record.

HISTORY: 1974, c. 578, § 6.1-370; 1994, c. 889; 1998, c. 10; 2001, c. 372;
2009, c. 346; 2010, c. 794; 2014, c. 454; 2019, c. 634; 2025, c. 214.