                                 CODE OF VIRGINIA

(REPEALED EFFECTIVE JULY 1, 2026) LICENSE REVOCATION. (§ 6.2-1907)

A. The Commission may revoke a license issued under this chapter:

   1. If it reasonably determines that (i) a licensee is engaging in one or more
   unsafe or unsound practices, (ii) a licensee may be unable to perform its
   obligations, or (iii) a licensee has willfully failed without reasonable cause
   to pay or provide for the payment of any of its obligations; or

   2. Upon any of the following grounds:
   				a. Any ground for denial of a license under this chapter;
   				b. Any violation of the provisions of this chapter or regulations adopted
   by the Commission pursuant thereto, or a violation of any other law or
   regulation applicable to the conduct of the licensee&#8217;s business;
   				c. Conviction of a felony or misdemeanor involving fraud,
   misrepresentation, or deceit;
   				d. Entry of a judgment against such licensee involving fraud,
   misrepresentation, or deceit;
   				e. Entry of a federal or state administrative order against such licensee
   for violation of any law or any regulation applicable to the conduct of his
   business;
   				f. Refusal to permit an investigation or examination by the Commission;
   				g. Failure to pay any fee or assessment imposed by this chapter; or
   				h. Failure to comply with any order of the Commission.

B. For the purposes of this section, acts of any officer, director, member,
partner, or principal shall be deemed acts of the licensee.

HISTORY: 1974, c. 578, § 6.1-374; 1990, c. 259; 1994, c. 889; 2001, c. 372;
2009, c. 346; 2010, c. 794; 2014, c. 454; 2025, c. 214.