{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/6.2-1946.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/6.2-1946.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/6.2-1946.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/6.2-1946.html"}],"law_id":374025,"edition_id":2,"section_id":374025,"structure_id":53194,"section_number":"6.2-1946","catch_line":"(Effective July 1, 2026) Refunds","history":"2025, c. 214.","full_text":"A\n\nEvery licensee shall refund to the sender within 10 days of receipt of the sender’s written request for a refund of any or all money received for transmission unless any of the following occurs:\n\n1\n\nThe money has been forwarded within 10 days of the date on which the money was received for transmission;\n\n2\n\nInstructions have been given committing an equivalent amount of money to the person designated by the sender within 10 days of the date on which the money was received for transmission;\n\n3\n\nThe agreement between the licensee and the sender instructs the licensee to forward the money at a time that is beyond 10 days of the date on which the money was received for transmission. If funds have not yet been forwarded in accordance with the terms of the agreement between the licensee and the sender, the licensee shall issue a refund in accordance with the other provisions of this section;\n\n4\n\nThe refund is requested for a transaction that the licensee has not completed based on a reasonable belief or a reasonable basis to believe that a crime or violation of law or regulation has occurred, is occurring, or may occur; or\n\n5\n\nThe refund request does not enable the licensee to identify (i) the sender’s name and the sender’s address or telephone number or (ii) the particular transaction to be refunded in the event the sender has multiple transactions outstanding.\n\nB\n\nThe provisions of subsection A shall not apply to (i) money received for transmission subject to the federal Remittance Rule (12 C.F.R. Part 1005, Subpart B) or (ii) money received for transmission pursuant to a written agreement between the licensee and payee to process payments for goods or services provided by the payee.\n\n","order_by":null,"text":{"0":{"id":1396184,"text":"Every licensee shall refund to the sender within 10 days of receipt of the sender’s written request for a refund of any or all money received for transmission unless any of the following occurs:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":1396185,"text":"The money has been forwarded within 10 days of the date on which the money was received for transmission;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":1396186,"text":"Instructions have been given committing an equivalent amount of money to the person designated by the sender within 10 days of the date on which the money was received for transmission;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":1396187,"text":"The agreement between the licensee and the sender instructs the licensee to forward the money at a time that is beyond 10 days of the date on which the money was received for transmission. If funds have not yet been forwarded in accordance with the terms of the agreement between the licensee and the sender, the licensee shall issue a refund in accordance with the other provisions of this section;","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":1396188,"text":"The refund is requested for a transaction that the licensee has not completed based on a reasonable belief or a reasonable basis to believe that a crime or violation of law or regulation has occurred, is occurring, or may occur; or","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"A5"},"5":{"id":1396189,"text":"The refund request does not enable the licensee to identify (i) the sender’s name and the sender’s address or telephone number or (ii) the particular transaction to be refunded in the event the sender has multiple transactions outstanding.","type":"section","prefixes":["A","5"],"prefix":"5","entire_prefix":"A5","prefix_anchor":"A5","level":2,"prior_prefix":"A4","next_prefix":"B"},"6":{"id":1396190,"text":"The provisions of subsection A shall not apply to (i) money received for transmission subject to the federal Remittance Rule (12 C.F.R. Part 1005, Subpart B) or (ii) money received for transmission pursuant to a written agreement between the licensee and payee to process payments for goods or services provided by the payee.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A5"}},"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":"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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1946\/","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":false,"permalink":{"id":1493579,"object_type":"law","relational_id":374025,"identifier":"6.2-1946","token":"6.2\/III\/19.1\/6.2-1946","url":"\/6.2-1946\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/6.2-1946\/","token":"6.2\/III\/19.1\/6.2-1946","dublin_core":{"Title":"(Effective July 1, 2026) Refunds","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1946","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Every licensee<\/span> shall refund to the sender within 10 days of receipt of the sender’s written request for a refund of any or all money received for transmission<\/span> unless any of the following occurs: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The money has been forwarded within 10 days of the date on which the money was received for transmission; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Instructions have been given committing an equivalent amount of money to the person<\/span> designated by the sender within 10 days of the date on which the money was received for transmission; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> The agreement between the licensee<\/span> and the sender instructs the licensee<\/span> to forward the money at a time that is beyond 10 days of the date on which the money was received for transmission. If funds have not yet been forwarded in accordance with the terms of the agreement between the licensee<\/span> and the sender, the licensee<\/span> shall issue<\/span> a refund in accordance with the other provisions of this section; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> The refund is requested for a transaction that the licensee<\/span> has not completed based on a reasonable belief or a reasonable basis to believe that a crime<\/span> or violation of law<\/span> or regulation has occurred, is occurring, or may occur; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> The refund request does not enable the licensee<\/span> to identify (i) the sender’s name and the sender’s address or telephone number or (ii) the particular transaction to be refunded in the event the sender has multiple transactions outstanding. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The provisions of subsection A shall not apply to (i) money received for transmission<\/span> subject to the federal Remittance Rule (12 C.F.R. Part 1005, Subpart B) or (ii) money received for transmission<\/span> pursuant to a written agreement between the licensee<\/span> and payee to process payments for goods or services provided by the payee. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\n(EFFECTIVE JULY 1, 2026) REFUNDS (\u00a7 6.2-1946)\n\nA. Every licensee shall refund to the sender within 10 days of receipt of the\nsender’s written request for a refund of any or all money received for\ntransmission unless any of the following occurs:\n\n 1. The money has been forwarded within 10 days of the date on which the money\n was received for transmission;\n\n 2. Instructions have been given committing an equivalent amount of money to\n the person designated by the sender within 10 days of the date on which the\n money was received for transmission;\n\n 3. The agreement between the licensee and the sender instructs the licensee to\n forward the money at a time that is beyond 10 days of the date on which the\n money was received for transmission. If funds have not yet been forwarded in\n accordance with the terms of the agreement between the licensee and the\n sender, the licensee shall issue a refund in accordance with the other\n provisions of this section;\n\n 4. The refund is requested for a transaction that the licensee has not\n completed based on a reasonable belief or a reasonable basis to believe that a\n crime or violation of law or regulation has occurred, is occurring, or may\n occur; or\n\n 5. The refund request does not enable the licensee to identify (i) the\n sender’s name and the sender’s address or telephone number or (ii)\n the particular transaction to be refunded in the event the sender has multiple\n transactions outstanding.\n\nB. The provisions of subsection A shall not apply to (i) money received for\ntransmission subject to the federal Remittance Rule (12 C.F.R. Part 1005,\nSubpart B) or (ii) money received for transmission pursuant to a written\nagreement between the licensee and payee to process payments for goods or\nservices provided by the payee.\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"}}