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Virginia Administrative Code
Title 10. Finance And Financial Institutions
Agency 5. State Corporation Commission
Chapter 240. Sales-Based Financing
11/23/2024

10VAC5-240-20. Registration; additional requirements; surrender of registration.

A. A provider or broker shall register with the commission in accordance with procedures established by the commissioner. A completed application for registration shall be accompanied by the initial registration fee prescribed in § 6.2-2230 of the Code of Virginia and any information relating to the application that the commissioner may require.

B. Every provider or broker shall (i) be organized under the laws of Virginia; or (ii) if not organized under the laws of Virginia, obtain authority to transact business in Virginia as a foreign entity in accordance with the provisions of Title 13.1 of the Code of Virginia unless such provider or broker is not required to obtain such authority. Every provider or broker, either organized under the laws of Virginia or who has obtained authority to transact business in Virginia as a foreign entity, shall continuously remain authorized to transact business in Virginia under Title 13.1 of the Code of Virginia.

C. A registrant shall notify the bureau in writing within 10 days after any change to either its name or contact information.

D. A registrant may surrender its registration by providing written notice to the bureau along with the effective date of the surrender.

Statutory Authority

§ 6.2-2237 of the Code of Virginia.

Historical Notes

Derived from Virginia Register Volume 39, Issue 5, eff. October 1, 2022.

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