{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/6.2-1939.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/6.2-1939.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/6.2-1939.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/6.2-1939.html"}],"law_id":374018,"edition_id":2,"section_id":374018,"structure_id":53194,"section_number":"6.2-1939","catch_line":"(Effective July 1, 2026) Audited financials","history":"2025, c. 214.","full_text":"A\n\nEach licensee shall, within 90 days after the end of each fiscal year, or within any extended time as the Commission may prescribe, file with the Commission:\n\n1\n\nIts audited financial statements for the fiscal year prepared in accordance with generally accepted accounting principles; and\n\n2\n\nAny other information as the Commission may reasonably require.\n\nB\n\nThe audited financial statements shall be prepared by an independent certified public accountant.\n\nC\n\nThe audited financial statements shall include or be accompanied by a certificate of opinion of the independent certified public accountant or independent public accountant that is satisfactory in form and content to the Commission. If the certificate of opinion is qualified, the Commission may require the licensee to take any action as the Commission may find necessary to enable the independent certified public accountant or independent public accountant to remove the qualification.\n\n","order_by":null,"text":{"0":{"id":1396134,"text":"Each licensee shall, within 90 days after the end of each fiscal year, or within any extended time as the Commission may prescribe, file with the Commission:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":1396135,"text":"Its audited financial statements for the fiscal year prepared in accordance with generally accepted accounting principles; and","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":1396136,"text":"Any other information as the Commission may reasonably require.","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"B"},"3":{"id":1396137,"text":"The audited financial statements shall be prepared by an independent certified public accountant.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A2","next_prefix":"C"},"4":{"id":1396138,"text":"The audited financial statements shall include or be accompanied by a certificate of opinion of the independent certified public accountant or independent public accountant that is satisfactory in form and content to the Commission. If the certificate of opinion is qualified, the Commission may require the licensee to take any action as the Commission may find necessary to enable the independent certified public accountant or independent public accountant to remove the qualification.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":53194,"edition_id":2,"name":"Money Transmitters","identifier":"19.1","label":"chapter","depth":3,"order_by":6,"parent_id":53187,"metadata":{"child_laws":36,"child_structures":0},"date_created":"2026-08-02 03:12:41","date_modified":"2026-08-02 12:28:08","permalink":{"id":1493481,"object_type":"structure","relational_id":53194,"identifier":"19.1","token":"6.2\/III\/19.1","url":"\/6.2\/III\/19.1\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53187,"edition_id":2,"name":"Other Regulated Providers of Financial Services","identifier":"III","label":"subtitle","depth":2,"order_by":3,"parent_id":53152,"metadata":{"child_laws":332,"child_structures":12},"date_created":"2026-08-02 03:12:17","date_modified":"2026-08-02 12:28:07","permalink":{"id":1492723,"object_type":"structure","relational_id":53187,"identifier":"III","token":"6.2\/III","url":"\/6.2\/III\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53152,"edition_id":2,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":10,"parent_id":null,"metadata":{"child_laws":961,"child_structures":89},"date_created":"2026-08-02 03:11:41","date_modified":"2026-08-02 12:27:53","permalink":{"id":1490251,"object_type":"structure","relational_id":53152,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":374001,"structure_id":53194,"section_number":"6.2-1922","catch_line":"(Effective July 1, 2026) Definitions","url":"\/6.2-1922\/","token":"6.2\/III\/19.1\/6.2-1922","metadata":false},{"id":374002,"structure_id":53194,"section_number":"6.2-1923","catch_line":"(Effective July 1, 2026) Exemptions","url":"\/6.2-1923\/","token":"6.2\/III\/19.1\/6.2-1923","metadata":false},{"id":374003,"structure_id":53194,"section_number":"6.2-1924","catch_line":"(Effective July 1, 2026) Implementation","url":"\/6.2-1924\/","token":"6.2\/III\/19.1\/6.2-1924","metadata":false},{"id":374004,"structure_id":53194,"section_number":"6.2-1925","catch_line":"(Effective July 1, 2026) Regulations","url":"\/6.2-1925\/","token":"6.2\/III\/19.1\/6.2-1925","metadata":false},{"id":374005,"structure_id":53194,"section_number":"6.2-1926","catch_line":"(Effective July 1, 2026) Supervision","url":"\/6.2-1926\/","token":"6.2\/III\/19.1\/6.2-1926","metadata":false},{"id":374006,"structure_id":53194,"section_number":"6.2-1927","catch_line":"(Effective July 1, 2026) Networked supervision","url":"\/6.2-1927\/","token":"6.2\/III\/19.1\/6.2-1927","metadata":false},{"id":374007,"structure_id":53194,"section_number":"6.2-1928","catch_line":"(Effective July 1, 2026) Relationship to federal law","url":"\/6.2-1928\/","token":"6.2\/III\/19.1\/6.2-1928","metadata":false},{"id":374008,"structure_id":53194,"section_number":"6.2-1929","catch_line":"(Effective July 1, 2026) License required","url":"\/6.2-1929\/","token":"6.2\/III\/19.1\/6.2-1929","metadata":false},{"id":374009,"structure_id":53194,"section_number":"6.2-1930","catch_line":"(Effective July 1, 2026) Consistent state licensing","url":"\/6.2-1930\/","token":"6.2\/III\/19.1\/6.2-1930","metadata":false},{"id":374010,"structure_id":53194,"section_number":"6.2-1931","catch_line":"(Effective July 1, 2026) Application for license","url":"\/6.2-1931\/","token":"6.2\/III\/19.1\/6.2-1931","metadata":false},{"id":374011,"structure_id":53194,"section_number":"6.2-1932","catch_line":"(Effective July 1, 2026) Information required for certain individuals","url":"\/6.2-1932\/","token":"6.2\/III\/19.1\/6.2-1932","metadata":false},{"id":374012,"structure_id":53194,"section_number":"6.2-1933","catch_line":"(Effective July 1, 2026) Issuance of license","url":"\/6.2-1933\/","token":"6.2\/III\/19.1\/6.2-1933","metadata":false},{"id":374013,"structure_id":53194,"section_number":"6.2-1934","catch_line":"(Effective July 1, 2026) License renewal","url":"\/6.2-1934\/","token":"6.2\/III\/19.1\/6.2-1934","metadata":false},{"id":374014,"structure_id":53194,"section_number":"6.2-1935","catch_line":"(Effective July 1, 2026) Maintenance of license","url":"\/6.2-1935\/","token":"6.2\/III\/19.1\/6.2-1935","metadata":false},{"id":374015,"structure_id":53194,"section_number":"6.2-1936","catch_line":"(Effective July 1, 2026) Acquisition of control","url":"\/6.2-1936\/","token":"6.2\/III\/19.1\/6.2-1936","metadata":{"court_decisions":""}},{"id":374016,"structure_id":53194,"section_number":"6.2-1937","catch_line":"(Effective July 1, 2026) Change of key individual; notice and required information","url":"\/6.2-1937\/","token":"6.2\/III\/19.1\/6.2-1937","metadata":false},{"id":374017,"structure_id":53194,"section_number":"6.2-1938","catch_line":"(Effective July 1, 2026) Report of condition","url":"\/6.2-1938\/","token":"6.2\/III\/19.1\/6.2-1938","metadata":false},{"id":374018,"structure_id":53194,"section_number":"6.2-1939","catch_line":"(Effective July 1, 2026) Audited financials","url":"\/6.2-1939\/","token":"6.2\/III\/19.1\/6.2-1939","metadata":false},{"id":374019,"structure_id":53194,"section_number":"6.2-1940","catch_line":"(Effective July 1, 2026) Authorized delegate reporting","url":"\/6.2-1940\/","token":"6.2\/III\/19.1\/6.2-1940","metadata":false},{"id":374020,"structure_id":53194,"section_number":"6.2-1941","catch_line":"(Effective July 1, 2026) Reports of certain events","url":"\/6.2-1941\/","token":"6.2\/III\/19.1\/6.2-1941","metadata":false},{"id":374021,"structure_id":53194,"section_number":"6.2-1942","catch_line":"(Effective July 1, 2026) Reports required by federal law","url":"\/6.2-1942\/","token":"6.2\/III\/19.1\/6.2-1942","metadata":false},{"id":374022,"structure_id":53194,"section_number":"6.2-1943","catch_line":"(Effective July 1, 2026) Records","url":"\/6.2-1943\/","token":"6.2\/III\/19.1\/6.2-1943","metadata":false},{"id":374023,"structure_id":53194,"section_number":"6.2-1944","catch_line":"(Effective July 1, 2026) Relationship between licensee and authorized delegate; prohibited activities","url":"\/6.2-1944\/","token":"6.2\/III\/19.1\/6.2-1944","metadata":false},{"id":374024,"structure_id":53194,"section_number":"6.2-1945","catch_line":"(Effective July 1, 2026) Timely transmission","url":"\/6.2-1945\/","token":"6.2\/III\/19.1\/6.2-1945","metadata":false},{"id":374025,"structure_id":53194,"section_number":"6.2-1946","catch_line":"(Effective July 1, 2026) Refunds","url":"\/6.2-1946\/","token":"6.2\/III\/19.1\/6.2-1946","metadata":false},{"id":374026,"structure_id":53194,"section_number":"6.2-1947","catch_line":"(Effective July 1, 2026) Receipts","url":"\/6.2-1947\/","token":"6.2\/III\/19.1\/6.2-1947","metadata":false},{"id":374027,"structure_id":53194,"section_number":"6.2-1948","catch_line":"(Effective July 1, 2026) Notice","url":"\/6.2-1948\/","token":"6.2\/III\/19.1\/6.2-1948","metadata":false},{"id":374028,"structure_id":53194,"section_number":"6.2-1949","catch_line":"(Effective July 1, 2026) Payroll processing services","url":"\/6.2-1949\/","token":"6.2\/III\/19.1\/6.2-1949","metadata":false},{"id":374029,"structure_id":53194,"section_number":"6.2-1950","catch_line":"(Effective July 1, 2026) Net worth","url":"\/6.2-1950\/","token":"6.2\/III\/19.1\/6.2-1950","metadata":false},{"id":374030,"structure_id":53194,"section_number":"6.2-1951","catch_line":"(Effective July 1, 2026) Surety bond","url":"\/6.2-1951\/","token":"6.2\/III\/19.1\/6.2-1951","metadata":false},{"id":374031,"structure_id":53194,"section_number":"6.2-1952","catch_line":"(Effective July 1, 2026) Maintenance of permissible investments","url":"\/6.2-1952\/","token":"6.2\/III\/19.1\/6.2-1952","metadata":{"court_decisions":{"0":{"name":"Jones v. Conwell","case_number":"Record 810886","citation":"314 S.E.2d 61","date":"1984-03-09","url":"https:\/\/www.courtlistener.com\/opinion\/1257725\/jones-v-conwell\/","abstract":" .\u202f.\u202f. 314 S.E.2d 61 (1984) .\u202f.\u202f. ","court_html":"<abbr title=\"Supreme Court of Virginia\">SCV<\/abbr>"}}}},{"id":374032,"structure_id":53194,"section_number":"6.2-1953","catch_line":"(Effective July 1, 2026) Permissible investments","url":"\/6.2-1953\/","token":"6.2\/III\/19.1\/6.2-1953","metadata":false},{"id":374033,"structure_id":53194,"section_number":"6.2-1954","catch_line":"(Effective July 1, 2026) Suspension or revocation of license","url":"\/6.2-1954\/","token":"6.2\/III\/19.1\/6.2-1954","metadata":false},{"id":374034,"structure_id":53194,"section_number":"6.2-1955","catch_line":"(Effective July 1, 2026) Civil penalties","url":"\/6.2-1955\/","token":"6.2\/III\/19.1\/6.2-1955","metadata":false},{"id":374035,"structure_id":53194,"section_number":"6.2-1956","catch_line":"(Effective July 1, 2026) Cease and desist orders","url":"\/6.2-1956\/","token":"6.2\/III\/19.1\/6.2-1956","metadata":false},{"id":374036,"structure_id":53194,"section_number":"6.2-1957","catch_line":"(Effective July 1, 2026) Criminal penalty","url":"\/6.2-1957\/","token":"6.2\/III\/19.1\/6.2-1957","metadata":false}],"previous_section":{"id":374017,"structure_id":53194,"section_number":"6.2-1938","catch_line":"(Effective July 1, 2026) Report of condition","url":"\/6.2-1938\/","token":"6.2\/III\/19.1\/6.2-1938","metadata":false},"next_section":{"id":374019,"structure_id":53194,"section_number":"6.2-1940","catch_line":"(Effective July 1, 2026) Authorized delegate reporting","url":"\/6.2-1940\/","token":"6.2\/III\/19.1\/6.2-1940","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1939\/","history_text":"<p>This law was first created in 2025. The record of its establishment is cataloged in chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?251+ful+CHAP0214\">214<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":false,"permalink":{"id":1493551,"object_type":"law","relational_id":374018,"identifier":"6.2-1939","token":"6.2\/III\/19.1\/6.2-1939","url":"\/6.2-1939\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/6.2-1939\/","token":"6.2\/III\/19.1\/6.2-1939","dublin_core":{"Title":"(Effective July 1, 2026) Audited financials","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1939","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section id=\"A\"><p><span class=\"prefix-number\">A.<\/span> Each <span class=\"dictionary\">licensee<\/span> shall, within 90 days after the end of each fiscal year, or within any extended time as the <span class=\"dictionary\">Commission<\/span> may prescribe, file with the <span class=\"dictionary\">Commission<\/span>: <a id=\"paragraph-1396134\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-1939\/#A\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A1\" class=\"indent-1\"><p><span class=\"prefix-number\">1.<\/span> Its audited financial statements for the fiscal year prepared in accordance with generally accepted accounting principles; and <a id=\"paragraph-1396135\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-1939\/#A1\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A2\" class=\"indent-1\"><p><span class=\"prefix-number\">2.<\/span> Any other information as the <span class=\"dictionary\">Commission<\/span> may reasonably require. <a id=\"paragraph-1396136\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-1939\/#A2\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B\"><p><span class=\"prefix-number\">B.<\/span> The audited financial statements shall be prepared by an independent certified public accountant. <a id=\"paragraph-1396137\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-1939\/#B\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"C\"><p><span class=\"prefix-number\">C.<\/span> The audited financial statements shall include or be accompanied by a certificate of <span class=\"dictionary\">opinion<\/span> of the independent certified public accountant or independent public accountant that is satisfactory in form and content to the <span class=\"dictionary\">Commission<\/span>. If the certificate of <span class=\"dictionary\">opinion<\/span> is qualified, the <span class=\"dictionary\">Commission<\/span> may require the <span class=\"dictionary\">licensee<\/span> to take any action as the <span class=\"dictionary\">Commission<\/span> may find necessary to enable the independent certified public accountant or independent public accountant to remove the qualification. <a id=\"paragraph-1396138\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-1939\/#C\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\n(EFFECTIVE JULY 1, 2026) AUDITED FINANCIALS (\u00a7 6.2-1939)\n\nA. Each licensee shall, within 90 days after the end of each fiscal year, or\nwithin any extended time as the Commission may prescribe, file with the\nCommission:\n\n   1. Its audited financial statements for the fiscal year prepared in accordance\n   with generally accepted accounting principles; and\n\n   2. Any other information as the Commission may reasonably require.\n\nB. The audited financial statements shall be prepared by an independent\ncertified public accountant.\n\nC. The audited financial statements shall include or be accompanied by a\ncertificate of opinion of the independent certified public accountant or\nindependent public accountant that is satisfactory in form and content to the\nCommission. If the certificate of opinion is qualified, the Commission may\nrequire the licensee to take any action as the Commission may find necessary to\nenable the independent certified public accountant or independent public\naccountant to remove the qualification.\n\nHISTORY: 2025, c. 214.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}