                                 CODE OF VIRGINIA

(EFFECTIVE JULY 1, 2026) CONSISTENT STATE LICENSING (§ 6.2-1930)

A. In order to establish consistent licensing between the Commonwealth and other
states, the Commission may (i) implement all licensing provisions of this
chapter in a manner that is consistent with other states that have adopted
similar provisions or multistate licensing processes and (ii) participate in
nationwide protocols for licensing cooperation and coordination among state
regulators provided that such protocols are consistent with this chapter.

B. In order to fulfill the purposes of this chapter, the Commission may
establish relationships or contracts with NMLS or other entities designated by
NMLS to enable the Commission to (i) collect and maintain records, (ii)
coordinate multistate licensing processes and supervision processes, (iii)
collect and process fees, and (iv) facilitate communication between the
Commonwealth and licensees or other persons subject to this chapter. In
establishing such contracts, the Commission shall not be subject to the Virginia
Public Procurement Act (&#xA7; 2.2-4300 et seq.).

C. The Commission may utilize NMLS for all aspects of this chapter, including
license applications, applications for acquisitions of control, surety bonds,
reporting, criminal history background checks, credit checks, fee processing,
and examinations.

D. The Commission may utilize NMLS forms, processes, and functionalities in
accordance with this chapter. In the event NMLS does not provide functionality,
forms, or processes for a provision of this chapter, the Commission may strive
to implement the requirements in a manner that facilitates uniformity with
respect to licensing, supervision, reporting, and regulation of licensees that
are licensed in multiple jurisdictions.

E. Every person required to be licensed under this chapter shall register with
NMLS and be subject to such registration and renewal requirements as may be
established by NMLS, in addition to any requirements of this chapter.

HISTORY: 2025, c. 214.