Virginia Code 6.2-504: Requirement of signatures of both parties to a marriage not discriminatory in a secured transaction
Current as of: 2022 | Check for updates | Other versions
For the purposes of a secured transaction, a request for the signature of both parties to a marriage for the purpose of creating a valid lien, passing clear title, waiving inchoate rights to property, or assigning earnings, shall not constitute discrimination under this chapter. This provision shall not be construed to permit a creditor to take sex or marital status into account in connection with the evaluation of creditworthiness of any applicant.
Terms Used In Virginia Code 6.2-504
- Applicant: means any person who applies to a creditor directly for an extension, renewal, or continuation of credit, or applies to a creditor indirectly by use of an existing credit plan for an amount exceeding the previously established credit limit. See Virginia Code 6.2-500
- Creditor: means any person who regularly extends, renews, or continues credit; any person who regularly arranges for the extension, renewal, or continuation of credit; or any assignee of an original creditor who participates in the decision to extend, renew, or continue credit. See Virginia Code 6.2-500
- Lien: A claim against real or personal property in satisfaction of a debt.
1975, c. 627, § 59.1-21.22; 1977, c. 589; 2010, c. 794.