If a licensee is a partnership or corporation, it shall be sufficient cause for the denial, suspension, or revocation of a license that any officer, director, or trustee of the partnership or corporation, or any member in the case of a partnership, has committed any act or omitted any duty which would be cause for refusing, suspending, or revoking a license issued to him as an individual under this chapter.

Terms Used In Virginia Code 46.2-1601.2

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Licensee: means any person who is licensed or is required to be licensed under this chapter. See Virginia Code 46.2-1600
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • revocation: means that the document or privilege revoked is not subject to renewal or restoration except through reapplication after the expiration of the period of revocation. See Virginia Code 46.2-100
  • suspension: means that the document or privilege suspended has been temporarily withdrawn, but may be reinstated following the period of suspension unless it has expired prior to the end of the period of suspension. See Virginia Code 46.2-100
  • Trustee: A person or institution holding and administering property in trust.

2014, c. 58.

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