{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/6.2-1943.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/6.2-1943.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/6.2-1943.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/6.2-1943.html"}],"law_id":374022,"edition_id":2,"section_id":374022,"structure_id":53194,"section_number":"6.2-1943","catch_line":"(Effective July 1, 2026) Records","history":"2025, c. 214.","full_text":"A\n\nA licensee shall maintain the following records for determining its compliance with this chapter for at least three years:\n\n1\n\nA record of each outstanding money transmission obligation sold;\n\n2\n\nA general ledger posted at least monthly containing all asset, liability, capital, income, and expense accounts;\n\n3\n\nBank statements and bank reconciliation records;\n\n4\n\nRecords of outstanding money transmission obligations;\n\n5\n\nRecords of each money transmission obligation paid within the three-year period;\n\n6\n\nA list of the last known names and addresses of all of the licensee’s authorized delegates; and\n\n7\n\nAny other records the Commission reasonably requires by regulation.\n\nB\n\nThe items specified in subsection A shall be maintained in written or electronic form.\n\nC\n\nRecords specified in subsection A may be maintained outside the Commonwealth if they are made accessible to the Commission on seven business days’ written notice.\n\nD\n\nAll records maintained by the licensee as required in this section are open to inspection by the Commission pursuant to § 6.2-1926.\n\nE\n\nEach licensee shall maintain policies and procedures sufficient for it to comply with this chapter and all other laws and regulations applicable to the conduct of its licensed business.\n\n","order_by":null,"text":{"0":{"id":1396150,"text":"A licensee shall maintain the following records for determining its compliance with this chapter for at least three years:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":1396151,"text":"A record of each outstanding money transmission obligation sold;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":1396152,"text":"A general ledger posted at least monthly containing all asset, liability, capital, income, and expense accounts;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":1396153,"text":"Bank statements and bank reconciliation records;","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":1396154,"text":"Records of outstanding money transmission obligations;","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"A5"},"5":{"id":1396155,"text":"Records of each money transmission obligation paid within the three-year period;","type":"section","prefixes":["A","5"],"prefix":"5","entire_prefix":"A5","prefix_anchor":"A5","level":2,"prior_prefix":"A4","next_prefix":"A6"},"6":{"id":1396156,"text":"A list of the last known names and addresses of all of the licensee’s authorized delegates; and","type":"section","prefixes":["A","6"],"prefix":"6","entire_prefix":"A6","prefix_anchor":"A6","level":2,"prior_prefix":"A5","next_prefix":"A7"},"7":{"id":1396157,"text":"Any other records the Commission reasonably requires by regulation.","type":"section","prefixes":["A","7"],"prefix":"7","entire_prefix":"A7","prefix_anchor":"A7","level":2,"prior_prefix":"A6","next_prefix":"B"},"8":{"id":1396158,"text":"The items specified in subsection A shall be maintained in written or electronic form.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A7","next_prefix":"C"},"9":{"id":1396159,"text":"Records specified in subsection A may be maintained outside the Commonwealth if they are made accessible to the Commission on seven business days’ written notice.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"10":{"id":1396160,"text":"All records maintained by the licensee as required in this section are open to inspection by the Commission pursuant to § 6.2-1926.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"11":{"id":1396161,"text":"Each licensee shall maintain policies and procedures sufficient for it to comply with this chapter and all other laws and regulations applicable to the conduct of its licensed business.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D"}},"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) 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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":"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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1943\/","history_text":"

This law was first created in 2025. The record of its establishment is cataloged in chapter 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":[{"id":374005,"section_number":"6.2-1926","catch_line":"(Effective July 1, 2026) Supervision","order_by":null,"url":"\/6.2-1926\/"}],"permalink":{"id":1493567,"object_type":"law","relational_id":374022,"identifier":"6.2-1943","token":"6.2\/III\/19.1\/6.2-1943","url":"\/6.2-1943\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/6.2-1943\/","token":"6.2\/III\/19.1\/6.2-1943","dublin_core":{"Title":"(Effective July 1, 2026) Records","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1943","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> A licensee<\/span> shall maintain the following records for determining its compliance with this chapter for at least three years: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> A record of each outstanding money transmission<\/span> obligation sold; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> A general ledger posted at least monthly containing all asset, liability, capital, income, and expense accounts; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Bank statements and bank reconciliation records; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Records of outstanding money transmission obligations<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Records of each money transmission obligation paid within the three-year period; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> A list of the last known names and addresses of all of the licensee<\/span>’s authorized delegates<\/span>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> Any other records the Commission<\/span> reasonably requires by regulation. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The items specified in subsection A shall be maintained in written or electronic form. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Records specified in subsection A may be maintained outside the Commonwealth if they are made accessible to the Commission<\/span> on seven business days’ written notice. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> All records maintained by the licensee<\/span> as required in this section are open to inspection by the Commission<\/span> pursuant to § 6.2-1926<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> Each licensee<\/span> shall maintain policies and procedures sufficient for it to comply with this chapter and all other laws<\/span> and regulations applicable to the conduct of its licensed business. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\n(EFFECTIVE JULY 1, 2026) RECORDS (\u00a7 6.2-1943)\n\nA. A licensee shall maintain the following records for determining its\ncompliance with this chapter for at least three years:\n\n 1. A record of each outstanding money transmission obligation sold;\n\n 2. A general ledger posted at least monthly containing all asset, liability,\n capital, income, and expense accounts;\n\n 3. Bank statements and bank reconciliation records;\n\n 4. Records of outstanding money transmission obligations;\n\n 5. Records of each money transmission obligation paid within the three-year\n period;\n\n 6. A list of the last known names and addresses of all of the licensee’s\n authorized delegates; and\n\n 7. Any other records the Commission reasonably requires by regulation.\n\nB. The items specified in subsection A shall be maintained in written or\nelectronic form.\n\nC. Records specified in subsection A may be maintained outside the Commonwealth\nif they are made accessible to the Commission on seven business days’\nwritten notice.\n\nD. All records maintained by the licensee as required in this section are open\nto inspection by the Commission pursuant to § 6.2-1926.\n\nE. Each licensee shall maintain policies and procedures sufficient for it to\ncomply with this chapter and all other laws and regulations applicable to the\nconduct of its licensed business.\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"}}