Virginia Code 6.2-1509: Contents, posting, transfer, and duration of license
A. Each license shall contain:
Terms Used In Virginia Code 6.2-1509
- Commission: means the State Corporation Commission. See Virginia Code 6.2-100
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Licensee: means a consumer finance company to which a license has been issued by the Commission pursuant to this chapter. See Virginia Code 6.2-1500
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
1. The address at which the business is to be conducted;
2. The full name of the licensee or, if the licensee is a partnership or association, the names of the partners or members; and
3. If the licensee is a corporation, the date and place of incorporation.
B. The licensee shall post the license prominently in each approved place of business of the licensee. The licensee shall prominently disclose on its website the license number assigned by the Commission to the licensee.
C. The license shall not be transferable or assignable.
D. Each license shall remain in full force and effect until surrendered, revoked, or suspended as provided by this chapter or by lawful order of the Commission.
Code 1950, §§ 6-288, 6-289; 1966, c. 584, §§ 6.1-258, 6.1-259; 1980, c. 211; 1982, c. 609; 2010, c. 794; 2020, cc. 1215, 1258.