Virginia Code 6.2-309: Charges by banks and savings institutions on installment loans
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Notwithstanding any statutory or case law, a bank or savings institution making a loan payable in installments may impose finance charges and other charges and fees at such rates and in such amounts and manner as the borrower has agreed.
Terms Used In Virginia Code 6.2-309
- Bank: means any national bank, any bank organized under Chapter 8 (§ 6. See Virginia Code 6.2-300
- Case law: The law as laid down in cases that have been decided in the decisions of the courts.
- Loan: means a loan or forbearance of money. See Virginia Code 6.2-300
- Savings institution: means any savings institution, as defined in § 6. See Virginia Code 6.2-300
1987, c. 622, § 6.1-330.60; 1996, c. 242; 1997, c. 128; 1999, c. 610; 2001, c. 743; 2010, c. 794.