Virginia Code 6.2-1827: Application of chapter to Internet loans
Current as of: 2023 | Check for updates
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A. The provisions of this chapter, including specifically the licensure requirements of § 6.2-1801, shall apply to persons making short-term loans over the Internet to Virginia residents or any individual in the Commonwealth, whether or not the person making the loan maintains a physical presence in the Commonwealth.
Terms Used In Virginia Code 6.2-1827
- Commission: means the State Corporation Commission. See Virginia Code 6.2-100
- Person: means any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or other legal or commercial entity. See Virginia Code 6.2-100
B. The Commission may, from time to time, by administrative rule or policy statement, set requirements that the Commission reasonably deems necessary to ensure compliance with this section.
2008, cc. 849, 876, § 6.1-469.1; 2010, c. 794; 2020, cc. 1215, 1258.