                                 CODE OF VIRGINIA

LICENSES; PLACES OF BUSINESS; CHANGES (§ 6.2-2207)

A. Each license shall state the address or addresses at which the business is to
be conducted and shall state fully the legal name of the licensee as well as any
fictitious name by which the licensee is operating in the Commonwealth. Each
license shall be posted prominently in each place of business of the licensee.
Licenses shall not be transferable or assignable, by operation of law or
otherwise. No licensee shall use any name in the Commonwealth other than the
legal name or fictitious name set forth on the license issued by the Commission.

B. No licensee shall open an additional office or relocate any place of business
without prior approval of the Commission. Applications for such approval shall
be made in writing on a form provided by the Commissioner and shall be
accompanied by payment of a $150 nonrefundable application fee or other
reasonable amount that the Commission may prescribe by regulation. The
application shall be approved unless the Commission finds that the applicant
does not have the required liquid assets or has not conducted business under
this chapter efficiently, fairly, in the public interest, and in accordance with
law. The application shall be deemed approved if notice to the contrary has not
been mailed by the Commission to the applicant within 30 days of the date the
application is received by the Commission. After approval, the applicant shall
give written notice to the Commissioner within 10 days of the commencement of
business at the additional location or relocated place of business.

C. Every licensee shall within 10 days notify the Commissioner, in writing, of
the closing of any business location and of the name, address, and position of
each new senior officer, member, partner, or director and provide such other
information with respect to any such change as the Commissioner may reasonably
require.

D. Every license shall remain in force until it has been surrendered, revoked,
or suspended. The surrender, revocation, or suspension of a license shall not
affect any preexisting legal right or obligation of such licensee.

HISTORY: 2010, c. 477, § 6.1-487; 2020, cc. 1215, 1258.