Password 1950, §§ 6-279, 6-281; 1956, c

Password 1950, §§ 6-279, 6-281; 1956, c

Elizabeth. The fresh new specifications regarding the section should apply to people, perhaps the person provides an office or performs providers within a location on Commonwealth.

Zero licensee shall fool around with a firm, business, or assumed label that has had some of the terms and conditions «offers,» «trust,» «trustee,» «lender,» «banker,» «banking,» «capital,» «thrift,» «strengthening,» or «industrial

F. People mortgage built in ticket for the part was emptiness, and no people shall feel the right to assemble, receive, otherwise hold any dominating, notice, fees, or any other charges to the the mortgage.

71; 1966, c. 584, §§ six.1-249, six.1-251; 1968, c. 489; 1974, c. 371; 1986, c. 502; 1995, c. 2; 1998, c. 9; 2001, c. 308; 2002, c. 897; 2010, cc. 477, 794; 2020, cc. 1215, 1258.

A good. No body doing business beneath the payday loans Chesterfield MO authority of any law from the newest Commonwealth otherwise of your United states per financial institutions, coupons institutions, believe people, building and you may financing connectivity, industrial financing contacts, or credit unions can be eligible for licensure around it section.

A licensee that’s a part otherwise user away from a financial or deals institution is going to be influenced by the provisions on the chapter, and all sorts of laws and regulations then followed hereunder, just like the completely because if instance licensee were not such a subsidiary or member.

1. Any organization transacted by the people beneath the power out-of and you may once the permitted because of the any law of your Commonwealth or of your own United states per financial institutions, discounts establishments, trust companies, building and mortgage associations, commercial mortgage connections, otherwise borrowing from the bank unions;

step 3. Individuals working according to the specific specifications of every other provision for the term already in effect otherwise hereafter passed.

Good. Application getting a permit to make financing less than which section shall get in creating, less than oath, plus in the proper execution prescribed of the Percentage.

B. Absolutely nothing contained in subsection A great and other section of so it identity is going to be construed to avoid a subsidiary from a financial or coupons institution of as an effective licensee below which chapter

dos. If your applicant are a collaboration or relationship, title and you will address each and every companion or member of the newest union otherwise relationship;

step three. In case the applicant is an enterprise or limited-liability team, the name and you may target each and every elderly officer, director, representative, joined agent, and you can dominant;

Password 1950, § 6-284; 1966, c. 584, § 6.1-254; 1976, c. 658; 1981, c. 452; 1989, c. 239; 2005, c. 63; 2010, c. 794; 2020, cc. 1215, 1258.

An effective. Through to brand new processing of one’s application together with percentage of software fee, brand new Payment shall create such as investigation according to the application and what’s needed sent to when you look at the § six.2-1507 because deems compatible.

B. The fresh Payment shall offer otherwise reject each app getting a permit in this 60 days in the date the program, together with all called for suggestions in addition to software commission, is actually submitted unless of course that point is extended of the buy of your own Fee you to recites the reasons for the extension.

An excellent. Brand new Fee should matter into applicant a permit and also make fund according to the provisions of the part if this finds:

step 1. That the monetary duty, feel, character and standard fitness of the candidate as well as people, older officials, administrators, and principals was such as for instance so you can demand the fresh new believe of social in order to guarantee religion this particular team would be run legally, in all honesty, very and you can effectively from inside the aim of so it section;

dos. Your applicant features available, toward process of your business, unencumbered quick assets of at least $twenty five,000 each venue;

3. Your applicant have complied challenging requirements so you can having the permit given by the § 6.2-1505; and you can

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