                                 CODE OF VIRGINIA

LOANS PURSUANT TO STOCK OPTION FINANCING PROGRAMS (§ 6.2-321)

A. As used in this section, &#8220;stock option financing program loan&#8221;
means a loan pursuant to which a lender finances the option holder&#8217;s
exercise of the option to purchase stock, which exercise is financed through
such means as purchasing the stock on margin, selling sufficient shares of the
stock to cover the total exercise cost, or selling the full quantity of stock to
cover the total exercise cost.

B. No person shall, by way of defense or otherwise, avail himself of the
provisions of this chapter, or any other statutory or case law relating to usury
or compounding of interest, to avoid or defeat the payment of interest, or any
other sum, in connection with a loan made to a person pursuant to a stock option
financing program loan.

HISTORY: 2003, c. 439, § 6.1-330.78:1; 2010, c. 794.