Administrative Code

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Virginia Administrative Code
Title 10. Finance And Financial Institutions
Agency 5. State Corporation Commission
Chapter 200. Short-Term Lending

10VAC5-200-30. Short-term lending pamphlet.

A. A licensee shall provide each applicant for a short-term loan with a pamphlet that uses the exact language set forth in 10VAC5-200-80. The pamphlet shall be printed without alteration separate from all other papers or documents obtained by the licensee in type of size not less than that known as 12 point. The title of the pamphlet (" Short-Term Lending in the Commonwealth of Virginia—Borrower Rights and Responsibilities") and the headings for the individual sections of the pamphlet (e.g., "In General," "Short-Term Lending Database," "Limitations on Security Interest / Obtaining PINs," etc.) shall be in bold-face print or type.

B. The end of each application form shall contain a separate acknowledgment stating the following: "I acknowledge that I have received the pamphlet entitled " Short-Term Lending in the Commonwealth of Virginia—Borrower Rights and Responsibilities." The acknowledgment must be initialed and dated by each applicant for a short-term loan.

Statutory Authority

§§ 6.2-1815 and 12.1-13 of the Code of Virginia.

Historical Notes

Derived from Volume 18, Issue 24, eff. July 22, 2002; amended, Virginia Register Volume 28, Issue 20, eff. June 1, 2012; Volume 37, Issue 25, eff. August 1, 2021.

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