                                 CODE OF VIRGINIA

OTHER REPORTING REQUIREMENTS (§ 6.2-2010)

A. Within 15 days following the occurrence of any of the following events, a
licensee shall file a written report with the Commission describing such event
and its expected impact upon the business of the licensee:

   1. The filing of bankruptcy, reorganization, or receivership proceedings by or
   against the licensee;

   2. The institution of administrative or regulatory proceedings against the
   licensee by any governmental authority;

   3. Any felony indictments of the licensee or any of its members, partners,
   directors, officers, trustees, beneficiaries, or principals, if known;

   4. Any felony conviction of the licensee or any of its members, partners,
   directors, officers, trustees, beneficiaries, or principals, if known;

   5. The institution of an action against the licensee under the Virginia
   Consumer Protection Act (&#xA7; 59.1-196 et seq.) by the Attorney General or
   any other governmental authority; or

   6. Such other event as the Commission may prescribe by regulation.

B. Within 30 days of judgment against the licensee in a civil action relating to
the DMP of a consumer, a licensee shall file a written report with the
Commission describing such event and its expected impact upon the business of
the licensee. The licensee shall advise the Commission within 30 days of any
settlement or the result of any judgment entered.

C. Within 10 days of receipt of any qualified audit, a licensee shall notify the
Commission and describe what steps are being taken to address concerns raised in
the audit.

D. Failure to file a report or other information or documents required under
this section shall subject the licensee to a fine of $25 for each day the report
is overdue.

HISTORY: 2004, c. 790, § 6.1-363.12; 2010, c. 794.