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Table of Contents » Title 10. Finance And Financial Institutions » Agency 5. State Corporation Commission » Chapter 60. Consumer Finance Companies » 10VAC5-60-65. Enforcement; civil penalties.

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Virginia Administrative Code
Title 10. Finance And Financial Institutions
Agency 5. State Corporation Commission
Chapter 60. Consumer Finance Companies

11/21/2024

10VAC5-60-65. Enforcement; civil penalties.

A. Failure to comply with any provision of the Act or this chapter may result in civil penalties, license suspension, license revocation, or other appropriate enforcement action.

B. Pursuant to § 6.2-1543 of the Code of Virginia, a licensee shall be subject to a separate civil penalty of up to $10,000 for every violation of the Act, this chapter, or a commission order that occurred knowingly or without the exercise of due care to prevent the violation. If a licensee violates a provision of the Act, this chapter, or a commission order in connection with multiple loans or borrowers, the licensee shall be subject to a separate civil penalty per violation for each loan or borrower.

Statutory Authority

§§ 6.2-1535 and 12.1-13 of the Code of Virginia.

Historical Notes

Derived from Virginia Register Volume 37, Issue 16, eff. April 15, 2021.

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