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Virginia Administrative Code
Title 10. Finance And Financial Institutions
Agency 5. State Corporation Commission
Chapter 120. Money Transmitters
10/4/2026

10VAC5-120-80. Permissible investments.

A. Permissible investments maintained by a licensee pursuant to § 6.2-1952 of the Code of Virginia shall be unencumbered and held solely in the name of the licensee.

B. In addition to the investments specified in § 6.2-1953 of the Code of Virginia, the following investments shall be considered permissible under § 6.2-1952 of the Code of Virginia: debit card-funded or credit card-funded transmission receivables owed by any bank, savings institution, or credit union.

C. The receivables specified in § 6.2-1953 B 1 of the Code of Virginia shall be limited to funds that have been collected by a licensee's authorized delegates directly from residents of the United States for money transmission transactions.

D. For purposes of § 6.2-1953 A 4 a (1) of the Code of Virginia, the following shall be deemed United States federal or state authorities having regulatory authority over banks, credit unions, and trust companies:

1. Office of the Comptroller of the Currency.

2. Federal Reserve Board.

3. Federal Deposit Insurance Corporation.

4. National Credit Union Administration.

5. State regulatory agencies that supervise banks, credit unions, or trust companies.

E. For purposes of § 6.2-1953 B 4 of the Code of Virginia, a licensee is required to have received a satisfactory or better rating in its most recent examination conducted (i) directly by the bureau or (ii) by an agency of another state if the examination report is accepted by the bureau pursuant to a multistate agreement.

Statutory Authority

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

Historical Notes

Derived from Virginia Register Volume 31, Issue 12, eff. February 15, 2015; amended, Virginia Register Volume 43, Issue 4, eff. October 1, 2026.

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