{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/6.2-2003.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/6.2-2003.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/6.2-2003.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/6.2-2003.html"}],"law_id":374041,"edition_id":2,"section_id":374041,"structure_id":53197,"section_number":"6.2-2003","catch_line":"Bond required","history":"2004, c. 790, \u00a7 6.1-363.5; 2010, c. 794.","full_text":"The application for a license shall be accompanied by a bond filed with the Commissioner with corporate surety authorized to execute the bond in the Commonwealth, in the principal amount as determined by the Commission. The amount of the bond shall be not less than $25,000 nor more than $350,000. The form of the bond shall be approved by the Commission. The bond shall be continuously maintained thereafter in full force, and the Commission may require the principal amount to be adjusted as it deems necessary. The bond shall be conditioned upon the licensee performing all written agreements with consumers, correctly and accurately accounting for all funds received by the licensee in the licensed business, and conducting the licensed business in conformity with this chapter and all applicable law. Any person who may be damaged by noncompliance of the licensee with any condition of the bond may proceed on the bond against the principal or surety thereon, or both, to recover damages. The aggregate liability under the bond shall not exceed the penal sum of the bond.\n\n","order_by":null,"text":{"0":{"id":1396309,"text":"The application for a license shall be accompanied by a bond filed with the Commissioner with corporate surety authorized to execute the bond in the Commonwealth, in the principal amount as determined by the Commission. The amount of the bond shall be not less than $25,000 nor more than $350,000. The form of the bond shall be approved by the Commission. The bond shall be continuously maintained thereafter in full force, and the Commission may require the principal amount to be adjusted as it deems necessary. The bond shall be conditioned upon the licensee performing all written agreements with consumers, correctly and accurately accounting for all funds received by the licensee in the licensed business, and conducting the licensed business in conformity with this chapter and all applicable law. Any person who may be damaged by noncompliance of the licensee with any condition of the bond may proceed on the bond against the principal or surety thereon, or both, to recover damages. The aggregate liability under the bond shall not exceed the penal sum of the bond.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":53197,"edition_id":2,"name":"Agencies Providing Debt Management Plans","identifier":"20","label":"chapter","depth":3,"order_by":7,"parent_id":53187,"metadata":{"child_laws":26,"child_structures":0},"date_created":"2026-08-02 03:12:45","date_modified":"2026-08-02 12:28:08","permalink":{"id":1493627,"object_type":"structure","relational_id":53197,"identifier":"20","token":"6.2\/III\/20","url":"\/6.2\/III\/20\/","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":374038,"structure_id":53197,"section_number":"6.2-2000","catch_line":"Definitions","url":"\/6.2-2000\/","token":"6.2\/III\/20\/6.2-2000","metadata":false},{"id":374039,"structure_id":53197,"section_number":"6.2-2001","catch_line":"(Effective July 1, 2026) License requirement; exceptions","url":"\/6.2-2001\/","token":"6.2\/III\/20\/6.2-2001","metadata":false},{"id":374040,"structure_id":53197,"section_number":"6.2-2002","catch_line":"Application for license; form; content; fee","url":"\/6.2-2002\/","token":"6.2\/III\/20\/6.2-2002","metadata":{"court_decisions":{"0":{"name":"Cochran v. 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Fairfax County Board of Zoning Appeals","case_number":"Record 030982; Record 031770; Record 031771","citation":"267 Va. 756","date":"2004-04-23","url":"https:\/\/www.courtlistener.com\/opinion\/1059092\/cochran-v-fairfax-county-board-of-zoning-appeals\/","abstract":" .\u202f.\u202f. SENIOR JUSTICE RUSSELL .\u202f.\u202f. ","court_html":"SCV<\/abbr>"},"1":{"name":"Bd. of Zoning of the City of Virginia Beach v. Pennington","case_number":"031771","citation":null,"date":"2004-04-23","url":"https:\/\/www.courtlistener.com\/opinion\/1059105\/bd-of-zoning-of-the-city-of-virginia-beach-v-penni\/","abstract":" .\u202f.\u202f. Present: Hassell, C.J., Lacy, Koontz, Kinser, Lemons and .\u202f.\u202f. ","court_html":"SCV<\/abbr>"},"2":{"name":"Cochran v. FAIRFAX COUNTY BD. OF ZONING","case_number":"030982","citation":"594 S.E.2d 571","date":"2004-04-23","url":"https:\/\/www.courtlistener.com\/opinion\/1059103\/cochran-v-fairfax-county-bd-of-zoning\/","abstract":" .\u202f.\u202f. 594 S.E.2d 571 (2004) .\u202f.\u202f. ","court_html":"SCV<\/abbr>"}}}},"next_section":{"id":374042,"structure_id":53197,"section_number":"6.2-2004","catch_line":"Investigation of applications","url":"\/6.2-2004\/","token":"6.2\/III\/20\/6.2-2004","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-2003\/","history_text":"

This law was first created in 2004. The record of its establishment is cataloged in chapter 790<\/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. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2010, chapter 794<\/a>.<\/p>","references":[{"id":374043,"section_number":"6.2-2005","catch_line":"Qualifications","order_by":null,"url":"\/6.2-2005\/"}],"refers_to":false,"permalink":{"id":1493641,"object_type":"law","relational_id":374041,"identifier":"6.2-2003","token":"6.2\/III\/20\/6.2-2003","url":"\/6.2-2003\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/6.2-2003\/","token":"6.2\/III\/20\/6.2-2003","dublin_core":{"Title":"Bond required","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-2003","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The application for a license shall be accompanied by a bond<\/span> filed with the Commissioner<\/span> with corporate surety<\/span> authorized to execute the bond<\/span> in the Commonwealth, in the principal<\/span> amount as determined by the Commission<\/span>. The amount of the bond<\/span> shall be not less than $25,000 nor more than $350,000. The form of the bond<\/span> shall be approved by the Commission<\/span>. The bond<\/span> shall be continuously maintained thereafter in full force, and the Commission<\/span> may require the principal<\/span> amount to be adjusted as it deems necessary. The bond<\/span> shall be conditioned upon the licensee<\/span> performing all written agreements with consumers<\/span>, correctly and accurately accounting for all funds received by the licensee<\/span> in the licensed business, and conducting the licensed business in conformity with this chapter and all applicable law<\/span>. Any person<\/span> who may be damaged by noncompliance of the licensee<\/span> with any condition of the bond<\/span> may proceed on the bond<\/span> against the principal<\/span> or surety<\/span> thereon, or both, to recover damages<\/span>. The aggregate liability under the bond<\/span> shall not exceed the penal sum of the bond<\/span>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nBOND REQUIRED (\u00a7 6.2-2003)\n\nThe application for a license shall be accompanied by a bond filed with the\nCommissioner with corporate surety authorized to execute the bond in the\nCommonwealth, in the principal amount as determined by the Commission. The\namount of the bond shall be not less than $25,000 nor more than $350,000. The\nform of the bond shall be approved by the Commission. The bond shall be\ncontinuously maintained thereafter in full force, and the Commission may require\nthe principal amount to be adjusted as it deems necessary. The bond shall be\nconditioned upon the licensee performing all written agreements with consumers,\ncorrectly and accurately accounting for all funds received by the licensee in\nthe licensed business, and conducting the licensed business in conformity with\nthis chapter and all applicable law. Any person who may be damaged by\nnoncompliance of the licensee with any condition of the bond may proceed on the\nbond against the principal or surety thereon, or both, to recover damages. The\naggregate liability under the bond shall not exceed the penal sum of the bond.\n\nHISTORY: 2004, c. 790, \u00a7 6.1-363.5; 2010, c. 794.","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"}}