Virginia Code 6.2-314: Motor vehicle purchase loans by subsidiaries and affiliates of banks and savings institutions.
Current as of: 2024 | Check for updates
|
Other versions
Notwithstanding any statutory or case law, a subsidiary or affiliate of a bank or savings institution that is not a licensee under the provisions of Chapter 15 (§ 6.2-1500 et seq.) may impose finance charges and other charges and fees at such rates and in such amounts and manner as the borrower has agreed on loans payable in installments for the purpose of financing the purchase of a motor vehicle.
Terms Used In Virginia Code 6.2-314
- Bank: means any national bank, any bank organized under Chapter 8 (§ Virginia Code 6.2-300
- Case law: The law as laid down in cases that have been decided in the decisions of the courts.
- Savings institution: means any savings institution, as defined in § Virginia Code 6.2-300
1987, c. 622, § 6.1-330.60; 1996, c. 242; 1997, c. 128; 1999, c. 610; 2001, c. 743; 2010, c. 794.