Virginia Code 6.2-2224: Validity of noncompliant loan agreement; private right of action
Current as of: 2024 | Check for updates
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A. If any provision of a motor vehicle title loan agreement violates a requirement of this chapter, such provision shall be unenforceable against the borrower.
Terms Used In Virginia Code 6.2-2224
- Motor vehicle: means an automobile, motorcycle, mobile home, truck, van, or other vehicle operated on public highways and streets. See Virginia Code 6.2-2200
- Person: means any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, or other legal or commercial entity. See Virginia Code 6.2-2200
- title loan: means a loan secured by a non-purchase money security interest in a motor vehicle. See Virginia Code 6.2-2200
B. Any person who suffers loss by reason of a violation of any provision of this chapter may bring a civil action to enforce such provision. Any person who is successful in such action shall recover reasonable attorney fees, expert witness fees, and court costs incurred by bringing such action.