                                 CODE OF VIRGINIA

(REPEALED EFFECTIVE JULY 1, 2026) CONDUCT OF BUSINESS THROUGH AUTHORIZED
DELEGATES OF LICENSEE. (§ 6.2-1911)

A. A licensee may conduct its business through or by means of such authorized
delegates as the licensee may designate or appoint under a written agreement
with such authorized delegates. The agreement between a licensee and an
authorized delegate shall (i) require the authorized delegate to comply with the
provisions of this chapter and all other applicable state and federal laws and
regulations; (ii) require the authorized delegate to remit all sums owing to the
licensee in accordance with the terms of the written agreement; (iii) require
the authorized delegate to permit the Commission to investigate or examine its
business pursuant to &#xA7; 6.2-1910; and (iv) prohibit the authorized delegate
from using a subdelegate, or from otherwise designating or appointing another
person to sell money orders or engage in money transmission business on behalf
of the licensee.

B. A licensee shall conduct a due diligence review of all new authorized
delegates. A licensee shall be responsible for implementing and maintaining a
reasonable risk-based supervision program to monitor its authorized delegates.

HISTORY: 1974, c. 578, § 6.1-377; 1994, c. 889; 2001, c. 372; 2009, c. 346;
2010, c. 794; 2025, c. 214.