Virginia Code 6.2-107.1: Certain payments required electronically.
Current as of: 2024 | Check for updates
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Any financial institution that initiates an electronic fund transfer related to the sale to a consumer of a security issued by such financial institution shall make available to the consumer the option of completing any payment of principal, interest, dividend, or other distribution related to the security to the consumer via an electronic fund transfer.
Terms Used In Virginia Code 6.2-107.1
- Financial institution: means any bank, trust company, savings institution, industrial loan association, consumer finance company, or credit union. See Virginia Code 6.2-100
2024, c. 422.