E. The fresh terms associated with section will apply at people, whether or not the people keeps an office or performs business at a location regarding the Commonwealth.

Zero licensee will play with a firm, business, otherwise thought label containing the words “offers,” “believe,” “trustee,” “financial,” “banker,” “banking,” “funding,” “thrift,” “strengthening,” or “industrial

F. People mortgage manufactured in solution in the part is actually emptiness, no person should have the right to assemble, found, otherwise keep one dominant, attract, costs, or other charge about the the borrowed funds.

71; 1966, c. 584, §§ 6.1-249, six https://www.onlineloanslouisiana.net/cities/houma/.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 working beneath the authority of any laws out of the Commonwealth or of the United states based on banking institutions, offers organizations, faith companies, strengthening and loan associations, commercial financing connections, otherwise borrowing unions shall be qualified to receive licensure around it part.

A licensee which is a subsidiary otherwise user off a financial otherwise discounts business is going to be ruled by the specifications from the section, as well as regulations implemented hereunder, just like the totally as if eg licensee weren’t like a part or representative.

1. Any organization transacted because of the any individual in expert regarding and you may while the allowed of the people rules of Commonwealth otherwise of the All of us according to financial institutions, discounts associations, believe organizations, building and you will mortgage relationships, industrial financing relationships, or borrowing from the bank unions;

step 3. Anybody functioning according to the specific terms of every other supply for the term currently in place otherwise hereafter enacted.

A good. Software to possess a licenses to make fund less than so it chapter should be in composing, under oath, and also in the design given because of the Payment.

B. Nothing within subsection An excellent or other section of it term are going to be construed to prevent a subsidiary out-of a lender otherwise offers place from are a great licensee under that it part

2. If the candidate are a collaboration or connection, the name and you may address of each and every lover otherwise person in the new commitment or association;

step 3. When your candidate is an enterprise otherwise limited-liability company, the name and you may address of every older manager, manager, associate, joined representative, and you may dominating;

Code 1950, § 6-284; 1966, c. 584, § six.1-254; 1976, c. 658; 1981, c. 452; 1989, c. 239; 2005, c. 63; 2010, c. 794; 2020, cc. 1215, 1258.

Good. Abreast of the fresh new filing of the application and the payment of your own application percentage, the brand new Commission will build like study in accordance with the program and the prerequisites taken to inside the § six.2-1507 since it deems compatible.

B. This new Percentage shall offer or refute for every app having a permit within two months in the date the application, in addition to every necessary suggestions and app percentage, is actually recorded until the period is actually offered by the order of your Payment one recites the reason why on extension.

An effective. The new Fee should point toward candidate a permit and also make funds according to the specifications with the section in the event it finds:

step one. The financial obligations, sense, reputation and you can standard physical fitness of one’s applicant as well as users, older officials, administrators, and principals is actually instance in order to order the newest believe of your own societal and guarantee faith this providers could be run lawfully, genuinely, very and you will effectively in aim of that it section;

dos. Your candidate have offered, towards the process of your team, unencumbered liquid assets with a minimum of $twenty five,100000 for each place;

3. The applicant provides complied with all the prerequisites to help you having the licenses recommended by § 6.2-1505; and you can