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Virginia Administrative Code
Title 10. Finance And Financial Institutions
Agency 5. State Corporation Commission
Chapter 120. Money Transmitters
10/3/2026

10VAC5-120-35. Nationwide Multistate Licensing System and Registry.

A. Every licensee shall maintain current information in its records with the NMLS. Except as otherwise required by Chapter 19.1 or this chapter, a licensee shall update its information as soon as is practicable, but in no event later than 10 business days from when a change takes effect.

B. A license under Chapter 19.1 shall expire on December 31 of each calendar year unless it is renewed by a licensee on or after November 1 of the same year. However, licenses that are granted between November 1 and December 31 shall not expire until the end of the following calendar year. A license shall be renewed upon the commissioner finding that the licensee has satisfied the requirements set forth in § 6.2-1934 B of the Code of Virginia.

C. Pursuant to § 6.2-1934 C of the Code of Virginia, the commission may grant an extension of the expiration date of all licenses under Chapter 19.1 in the event of a natural disaster or such other unanticipated events or circumstances beyond the control of licensees that would prevent the licensees from renewing their licenses by December 31.

Statutory Authority

§§ 6.2-1913 and 12.1-13 of the Code of Virginia.

Historical Notes

Derived from Virginia Register Volume 35, Issue 24, eff. July 15, 2019; amended, Virginia Register Volume 43, Issue 4, eff. October 1, 2026.

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