Virginia Law

Agency 5. State Corporation Commission

Preface

Agency Summary

Chapter 10

Delegation of Certain Authority to the Commissioner of the Bureau of Financial InstitutionsRead all

Section 10

Powers Delegated to Commissioner of Financial Institutions

Chapter 20

Banking and Savings InstitutionsRead all

Section 10

Interest Rate for State-Chartered Banks

Section 20

Reserves of Virginia Banks

Section 30

Schedule Prescribing Annual Fees Paid for Examination, Supervision, and Regulation of State-Chartered Banks and Savings Institutions

Section 40

State Savings Banks; Corporate Name and Investment Requirement

Section 50

Conversion of Mutual to Stock Association

Chapter 22

Trust Company RegulationsRead all

Section 10

Definitions

Section 20

Preliminary Statement; Responsibility of the Board of Directors; Meetings of the Board

Section 30

Composition of Affiliated Trust Company Board; Prohibitions on Dual Service

Section 40

Reports of Condition; Annual Audits

Section 50

Insurance Required

Section 60

Investments

Section 70

Loans to Certain Persons Prohibited

Section 80

Delegation of Trust Functions; Confidentiality

Section 90

Trust Administration As Individual, Receipt of Income from Licensed Activities Prohibited

Section 100

Securities Advice Prohibited; Exception

Section 110

Agency or Marketing Activity Prohibited

Section 120

Services by Affiliate

Section 130

Referral of Securities Transactions

Section 140

Purchases from Affiliate Prohibited; Exceptions; Terms

Section 150

Separate Offices Required

Chapter 30

Savings Institution Holding CompaniesRead all

Section 10

Definitions

Section 20

Scope

Section 30

Requirement of an Application

Section 40

Standard for Approval

Section 50

The Application Process

Section 60

Reporting

Section 70

Books and Records

Section 80

Examination of Holding Company

Section 90

Cease and Desist Order

Chapter 40

Credit UnionsRead all

Section 5

Definitions

Section 10

Surety Bond Amount Required

Section 20

Schedule Prescribing Annual Fees Paid for Examination, Supervision, and Regulation of State Chartered Credit Unions

Section 30

Regular Reserve Accounts

Section 40

Serving Underserved Areas

Section 50

Services for Nonmembers within the Field of Membership

Section 60

Credit Union Service Organizations (Cusos)

Section 70

Low-Income Designated Credit Unions

Section 80

Loan Participations

Section 90

Benefits for Employees of State-Chartered Credit Unions

Chapter 50

Industrial Loan AssociationsRead all

Section 10

Disclosure on Debt Instruments; Minimum Amount and Maturity

Section 20

Surety Bond Upon All Active Officers

Section 30

Schedule Prescribing Annual Fees Paid for Examination, Supervision, and Regulation of Industrial Loan Associations

Chapter 60

Consumer Finance CompaniesRead all

Section 5

Definitions

Section 10

[Repealed]

Section 15

Surety Bond; Other Requirements for Licensees; Acquisitions

Section 20

Additional Business Requirements and Restrictions

Section 25

Access Partners

Section 30

Repayment of Loans Through Payroll Deductions

Section 35

Advertising

Section 40

[Repealed]

Section 45

Conducting Other Business

Section 50

[Repealed]

Section 55

Books, Accounts, and Records; Responding to Requests from the Bureau; Providing False, Misleading, or Deceptive Information

Section 60

Schedule Prescribing Annual Fees Paid for Examination, Supervision, and Regulation of Consumer Finance Companies

Section 65

Enforcement; Civil Penalties

Section 70

Commission Authority

Chapter 70

Sale of Noncredit-Related Life Insurance in Consumer Finance OfficesRead all

Section 10

Legal Compliance

Section 20

Separation of Lending and Insurance Sales

Section 30

Purchaser's Right to Cancel Insurance

Section 40

Compliance with Insurance Laws

Section 50

Examination of Records

Section 60

Effect of Chapter

Chapter 80

Real Estate Settlement Agent RulesRead all

Section 10

Definitions

Section 20

Registration with the Virginia State Bar

Section 30

Financial Responsibility Requirements

Section 40

Escrow Accounts and Audits

Section 50

Unauthorized Practice of Law Guidelines

Section 60

Access to Records

Section 70

Parties Not Affected

DIBR

Documents Incorporated by Reference (10VAC5-80)

Chapter 90

[Reserved]Read all

Chapter 100

Nonprofit Debt Counseling Agencies [Repealed]Read all

Section 10

[Repealed]

Chapter 110

Credit CounselingRead all

Section 10

Definitions

Section 20

Surety Bond Standards; Reporting Requirements

Section 30

Schedule of Annual Fees for the Examination, Supervision, and Regulation of Agencies Providing Debt Management Plans

Section 40

Operating Requirements

Section 50

Advertising

Section 60

Enforcement

Section 70

Commission Authority

Chapter 120

Money Order Sellers and Money TransmittersRead all

Section 10

Definitions

Section 20

Surety Bond Standards

Section 30

Alternative to Surety Bond

Section 35

Nationwide Multistate Licensing System and Registry

Section 40

Reporting and Filing Requirements

Section 50

Assessment Schedule for the Examination and Supervision of Money Order Sellers and Money Transmitters

Section 60

Responding to Requests from the Bureau of Financial Institutions; Providing False, Misleading, or Deceptive Information

Section 70

Acquisitions; Additional Business Requirements and Restrictions; Operating Rules

Section 80

Permissible Investments

Section 90

Enforcement

Section 100

Commission Authority

Chapter 130

Virginia Financial Institution Holding CompaniesRead all

Section 10

Filing of Registration Statements Required

Section 20

Reporting by Virginia Financial Institution Holding Companies

Chapter 140

Financial Service Center BanksRead all

Section 10

Application

Section 20

Reporting

Section 30

Compliance with Statutory Conditions

Chapter 150

[Reserved]Read all

Chapter 160

Rules Governing Mortgage Lenders and BrokersRead all

Section 10

Definitions

Section 15

Surety Bond; Required Funds

Section 20

Operating Requirements

Section 25

Books, Accounts, and Records

Section 30

Commitment Agreements and Lock-In Agreements

Section 40

Schedule of Annual Fees for the Examination, Supervision, and Regulation of Mortgage Lenders and Mortgage Brokers

Section 50

Responding to Requests from Bureau of Financial Institutions; Providing False, Misleading, or Deceptive Information

Section 60

Advertising

Section 70

[Repealed]

Section 80

[Repealed]

Section 90

Nationwide Mortgage Licensing System and Registry

Section 100

Enforcement

Section 110

Commission Authority

Chapter 161

Mortgage Loan OriginatorsRead all

Section 10

Definitions

Section 20

Individuals Subject to Licensure

Section 30

License Application Procedure

Section 40

Conditions of Licensure and Renewals

Section 45

Financial Responsibility, Character, and General Fitness

Section 50

Surety Bond Amount

Section 60

Required Reports and Notices; Information in Registry

Section 70

Responding to Requests from the Bureau of Financial Institutions; Disposal of Records.

Section 75

Bona Fide Nonprofit Organizations

Section 80

Enforcement; Civil Penalties.

Section 90

Commission Authority

FORMS

Forms (10VAC5-161)

Chapter 170

Electronic Funds Transfer [Repealed]Read all

Section 10

[Repealed]

Chapter 180

Equal Credit OpportunityRead all

Section 10

Virginia Equal Credit Opportunity Regulation

Chapter 190

Common Trust FundsRead all

Section 10

Definition of Terms

Section 20

Operating Rules

Section 30

Investment Authorization

Section 40

Status of Comptroller's "Precedents and Opinions."

FORMS

Forms (10VAC5-190)

Chapter 200

Short-Term LendingRead all

Section 10

Definitions

Section 20

Requirements for Licensees; Operating Rules; Acquisitions

Section 30

Short-Term Lending Pamphlet

Section 33

[Repealed]

Section 35

[Repealed]

Section 40

[Repealed]

Section 50

Responding to Requests from the Bureau of Financial Institutions; Providing False, Misleading, or Deceptive Information

Section 60

Posting of Charges

Section 70

Additional Business Requirements and Restrictions

Section 75

Annual Reporting Requirements

Section 80

Short-Term Lending Pamphlet Text

Section 85

Advertising

Section 90

Schedule of Annual Fees for the Examination, Supervision, and Regulation of Short-Term Lenders

Section 100

Conducting OtherBusiness

Section 110

Short-TermLending Database

Section 113

Limited Disclosure of Data from Short-TermLending Database

Section 115

Database Inquiry Fee

Section 120

Enforcement

Section 130

Commission Authority

Chapter 210

Motor Vehicle Title LendingRead all

Section 10

Definitions

Section 20

Requirements for Licensees; Reporting Requirements; Acquisitions

Section 30

Motor Vehicle Title LendingPamphlet

Section 40

Posting of Charges and Contact Information for Complaints

Section 50

Additional Business Requirements and Restrictions

Section 60

Annual Reporting Requirements

Section 70

Conducting OtherBusiness

Section 80

Advertising

Section 90

Books, Accounts, and Records; Responding to Requests from the Bureau

Section 95

Schedule of Annual Fees for the Examination, Supervision, and Regulation of Motor Vehicle Title Lenders

Section 100

Enforcement; Civil Penalties

Section 110

Commission Authority

FORMS

Forms (10VAC5-210)

Chapter 220

Qualified Education Loan ServicersRead all

Section 10

Definitions

Section 20

Surety Bond Standards

Section 30

Procedure for Documenting Eligibility Through the Registry for Automatic Issuance of a License

Section 40

Nationwide Multistate Licensing System and Registry

Section 50

Books, Accounts, and Records

Section 60

Responding to Requests from the Bureau of Financial Institutions; Providing False, Misleading, or Deceptive Information

Section 70

Annual Reporting Requirements

Section 80

Schedule for Annual Fees for the Examination, Supervision, and Regulation of Qualified Education Loan Servicers

Section 90

Commission Authority

Chapter 230

Debt Settlement Services ProvidersRead all

Section 10

Definitions

Section 20

Bond Coverage

Section 30

Reporting Requirements

Section 40

Schedule of Annual Fees for the Examination, Supervision, and Regulation of Debt Settlement Services Providers

Section 50

Additional Business Requirements and Restrictions; Acquisitions

Section 60

Advertising

Section 70

Enforcement; Civil Penalties

Section 80

Commission Authority

Chapter 240

Sales-Based FinancingRead all

Section 10

Definitions

Section 20

Registration; Additional Requirements; Surrender of Registration

Section 30

Sales-Based Financing Disclosure Form

Section 40

Commission Authority

FORMS

Forms (10VAC5-240)