{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/6.2-2005.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/6.2-2005.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/6.2-2005.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/6.2-2005.html"}],"law_id":374043,"edition_id":2,"section_id":374043,"structure_id":53197,"section_number":"6.2-2005","catch_line":"Qualifications","history":"2004, c. 790, \u00a7 6.1-363.7; 2005, c. 315; 2010, c. 794.","full_text":"A\n\nUpon the filing and investigation of an application for a license, and compliance by the applicant with the provisions of \u00a7\u00a7 6.2-2002 and 6.2-2003, the Commission shall issue and deliver to the applicant the license to engage in business under this chapter at the locations specified in the application if it finds that:\n\n1\n\nThe financial responsibility, character, reputation, experience, and general fitness of the applicant and its members, senior officers, directors, trustees, and principals are such as to warrant belief that the business will be operated efficiently and fairly, in the public interest, and in accordance with law;\n\n2\n\nThe applicant has made acceptable provision for the avoidance of conflicts of interest;\n\n3\n\nThe applicant maintains a separate trust account with an FDIC-insured depository institution for the handling of customers’ funds;\n\n4\n\nThe applicant’s credit counselors are certified through a bona fide third-party certification provider unaffiliated with the applicant that authenticates the competence of counselors providing consumer assistance;\n\n5\n\nNo more than one-third of the board of directors or managing members are employees, officers, members, principals, trustees, directors, agents, or other representatives of organizations that grant credit to consumers;\n\n6\n\nThe applicant is accredited by the International Standards Organization or the Council on Accreditation or any other organization approved by the Commission;\n\n7\n\nThe applicant has fidelity bond coverage in such principal amount as may be determined by the Commission;\n\n8\n\nThe applicant (i) is not the subject of any current material administrative or regulatory proceedings by any governmental authority and (ii) has not received a material adverse determination in any past administrative or regulatory proceedings by any governmental authority; and\n\n9\n\nThe applicant has filed with the Commission a form, that shall be provided to each consumer prior to his execution of a DMP, that contains the following disclosures to the consumer: (i) all fees charged by the applicant or contributions solicited by the applicant from the consumer; (ii) whether the applicant is a for-profit entity or nonprofit entity; and (iii) whether the applicant received financial support from creditors during the preceding calendar year.\n\nB\n\nIf the Commission fails to make such findings, no license shall be issued and the Commissioner shall notify the applicant of the denial and the reasons for such denial.\n\nC\n\nA license shall not be issued to a collection agency, or to any creditor or association of creditors, or to any credit-granting organization or association of such organizations.\n\n","order_by":null,"text":{"0":{"id":1396311,"text":"Upon the filing and investigation of an application for a license, and compliance by the applicant with the provisions of \u00a7\u00a7 6.2-2002 and 6.2-2003, the Commission shall issue and deliver to the applicant the license to engage in business under this chapter at the locations specified in the application if it finds that:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":1396312,"text":"The financial responsibility, character, reputation, experience, and general fitness of the applicant and its members, senior officers, directors, trustees, and principals are such as to warrant belief that the business will be operated efficiently and fairly, in the public interest, and in accordance with law;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":1396313,"text":"The applicant has made acceptable provision for the avoidance of conflicts of interest;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":1396314,"text":"The applicant maintains a separate trust account with an FDIC-insured depository institution for the handling of customers’ funds;","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":1396315,"text":"The applicant’s credit counselors are certified through a bona fide third-party certification provider unaffiliated with the applicant that authenticates the competence of counselors providing consumer assistance;","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"A5"},"5":{"id":1396316,"text":"No more than one-third of the board of directors or managing members are employees, officers, members, principals, trustees, directors, agents, or other representatives of organizations that grant credit to consumers;","type":"section","prefixes":["A","5"],"prefix":"5","entire_prefix":"A5","prefix_anchor":"A5","level":2,"prior_prefix":"A4","next_prefix":"A6"},"6":{"id":1396317,"text":"The applicant is accredited by the International Standards Organization or the Council on Accreditation or any other organization approved by the Commission;","type":"section","prefixes":["A","6"],"prefix":"6","entire_prefix":"A6","prefix_anchor":"A6","level":2,"prior_prefix":"A5","next_prefix":"A7"},"7":{"id":1396318,"text":"The applicant has fidelity bond coverage in such principal amount as may be determined by the Commission;","type":"section","prefixes":["A","7"],"prefix":"7","entire_prefix":"A7","prefix_anchor":"A7","level":2,"prior_prefix":"A6","next_prefix":"A8"},"8":{"id":1396319,"text":"The applicant (i) is not the subject of any current material administrative or regulatory proceedings by any governmental authority and (ii) has not received a material adverse determination in any past administrative or regulatory proceedings by any governmental authority; and","type":"section","prefixes":["A","8"],"prefix":"8","entire_prefix":"A8","prefix_anchor":"A8","level":2,"prior_prefix":"A7","next_prefix":"A9"},"9":{"id":1396320,"text":"The applicant has filed with the Commission a form, that shall be provided to each consumer prior to his execution of a DMP, that contains the following disclosures to the consumer: (i) all fees charged by the applicant or contributions solicited by the applicant from the consumer; (ii) whether the applicant is a for-profit entity or nonprofit entity; and (iii) whether the applicant received financial support from creditors during the preceding calendar year.","type":"section","prefixes":["A","9"],"prefix":"9","entire_prefix":"A9","prefix_anchor":"A9","level":2,"prior_prefix":"A8","next_prefix":"B"},"10":{"id":1396321,"text":"If the Commission fails to make such findings, no license shall be issued and the Commissioner shall notify the applicant of the denial and the reasons for such denial.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A9","next_prefix":"C"},"11":{"id":1396322,"text":"A license shall not be issued to a collection agency, or to any creditor or association of creditors, or to any credit-granting organization or association of such organizations.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"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. 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>"}}}},{"id":374041,"structure_id":53197,"section_number":"6.2-2003","catch_line":"Bond required","url":"\/6.2-2003\/","token":"6.2\/III\/20\/6.2-2003","metadata":false},{"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},{"id":374043,"structure_id":53197,"section_number":"6.2-2005","catch_line":"Qualifications","url":"\/6.2-2005\/","token":"6.2\/III\/20\/6.2-2005","metadata":false},{"id":374044,"structure_id":53197,"section_number":"6.2-2006","catch_line":"Licenses; places of business; changes","url":"\/6.2-2006\/","token":"6.2\/III\/20\/6.2-2006","metadata":false},{"id":374045,"structure_id":53197,"section_number":"6.2-2007","catch_line":"Acquisition of control; application","url":"\/6.2-2007\/","token":"6.2\/III\/20\/6.2-2007","metadata":false},{"id":374046,"structure_id":53197,"section_number":"6.2-2008","catch_line":"Retention of books, accounts, and records; responding to Bureau","url":"\/6.2-2008\/","token":"6.2\/III\/20\/6.2-2008","metadata":false},{"id":374047,"structure_id":53197,"section_number":"6.2-2009","catch_line":"Annual report","url":"\/6.2-2009\/","token":"6.2\/III\/20\/6.2-2009","metadata":false},{"id":374049,"structure_id":53197,"section_number":"6.2-2010","catch_line":"Other reporting requirements","url":"\/6.2-2010\/","token":"6.2\/III\/20\/6.2-2010","metadata":false},{"id":374050,"structure_id":53197,"section_number":"6.2-2011","catch_line":"Investigations; examinations","url":"\/6.2-2011\/","token":"6.2\/III\/20\/6.2-2011","metadata":{"court_decisions":{"0":{"name":"Capital One Financial Corporation v. Commissioner","case_number":"10-1788","citation":null,"date":"2011-10-21","url":"https:\/\/www.courtlistener.com\/opinion\/2968580\/capital-one-financial-corporation-v-commissioner\/","abstract":" .\u202f.\u202f. PUBLISHED .\u202f.\u202f. ","court_html":"Court of Appeals for the Fourth Circuit"},"1":{"name":"Capital One Financial Corp. v. Commissioner","case_number":"10-1788","citation":"659 F.3d 316","date":"2011-10-21","url":"https:\/\/www.courtlistener.com\/opinion\/2484672\/capital-one-financial-corp-v-commissioner\/","abstract":" .\u202f.\u202f. 659 F.3d 316 (2011) .\u202f.\u202f. ","court_html":"Court of Appeals for the Fourth Circuit"}}}},{"id":374051,"structure_id":53197,"section_number":"6.2-2012","catch_line":"Annual fees","url":"\/6.2-2012\/","token":"6.2\/III\/20\/6.2-2012","metadata":{"court_decisions":""}},{"id":374052,"structure_id":53197,"section_number":"6.2-2013","catch_line":"Regulations","url":"\/6.2-2013\/","token":"6.2\/III\/20\/6.2-2013","metadata":false},{"id":374053,"structure_id":53197,"section_number":"6.2-2014","catch_line":"Required and prohibited business methods","url":"\/6.2-2014\/","token":"6.2\/III\/20\/6.2-2014","metadata":false},{"id":374054,"structure_id":53197,"section_number":"6.2-2015","catch_line":"Fees and contributions","url":"\/6.2-2015\/","token":"6.2\/III\/20\/6.2-2015","metadata":false},{"id":374055,"structure_id":53197,"section_number":"6.2-2016","catch_line":"Additional charges","url":"\/6.2-2016\/","token":"6.2\/III\/20\/6.2-2016","metadata":false},{"id":374056,"structure_id":53197,"section_number":"6.2-2017","catch_line":"Advertising","url":"\/6.2-2017\/","token":"6.2\/III\/20\/6.2-2017","metadata":false},{"id":374057,"structure_id":53197,"section_number":"6.2-2018","catch_line":"Suspension or revocation of license","url":"\/6.2-2018\/","token":"6.2\/III\/20\/6.2-2018","metadata":false},{"id":374058,"structure_id":53197,"section_number":"6.2-2019","catch_line":"Cease and desist orders","url":"\/6.2-2019\/","token":"6.2\/III\/20\/6.2-2019","metadata":false},{"id":374060,"structure_id":53197,"section_number":"6.2-2020","catch_line":"Notice of proposed suspension or revocation","url":"\/6.2-2020\/","token":"6.2\/III\/20\/6.2-2020","metadata":false},{"id":374061,"structure_id":53197,"section_number":"6.2-2021","catch_line":"Civil penalties","url":"\/6.2-2021\/","token":"6.2\/III\/20\/6.2-2021","metadata":false},{"id":374062,"structure_id":53197,"section_number":"6.2-2022","catch_line":"Criminal penalty","url":"\/6.2-2022\/","token":"6.2\/III\/20\/6.2-2022","metadata":false},{"id":374063,"structure_id":53197,"section_number":"6.2-2023","catch_line":"Private right of action","url":"\/6.2-2023\/","token":"6.2\/III\/20\/6.2-2023","metadata":false},{"id":374064,"structure_id":53197,"section_number":"6.2-2024","catch_line":"Authority of Attorney General; referral by Commission to Attorney General","url":"\/6.2-2024\/","token":"6.2\/III\/20\/6.2-2024","metadata":false},{"id":374065,"structure_id":53197,"section_number":"6.2-2025","catch_line":"Violation of the Virginia Consumer Protection Act","url":"\/6.2-2025\/","token":"6.2\/III\/20\/6.2-2025","metadata":false}],"previous_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},"next_section":{"id":374044,"structure_id":53197,"section_number":"6.2-2006","catch_line":"Licenses; places of business; changes","url":"\/6.2-2006\/","token":"6.2\/III\/20\/6.2-2006","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-2005\/","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 2 times. 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. Those modifications are as follows: in 2005, chapter 315<\/a>; in 2010, chapter 794<\/a>.<\/p>","references":[{"id":368921,"section_number":"54.1-3905","catch_line":"Furnishing advice and services for compensation in connection with certain debt-pooling plans deemed practicing law","order_by":null,"url":"\/54.1-3905\/"}],"refers_to":[{"id":374040,"section_number":"6.2-2002","catch_line":"Application for license; form; content; fee","order_by":null,"url":"\/6.2-2002\/"},{"id":374041,"section_number":"6.2-2003","catch_line":"Bond required","order_by":null,"url":"\/6.2-2003\/"}],"permalink":{"id":1493649,"object_type":"law","relational_id":374043,"identifier":"6.2-2005","token":"6.2\/III\/20\/6.2-2005","url":"\/6.2-2005\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/6.2-2005\/","token":"6.2\/III\/20\/6.2-2005","dublin_core":{"Title":"Qualifications","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-2005","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Upon the filing and investigation of an application for a license, and compliance by the applicant with the provisions of \u00a7\u00a7 6.2-2002<\/a> and 6.2-2003<\/a>, the Commission<\/span> shall issue<\/span> and deliver to the applicant the license to engage in business under this chapter at the locations specified in the application if it finds that: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The financial responsibility, character, reputation, experience, and general fitness of the applicant and its members, senior officers, directors, trustees, and principals<\/span> are such as to warrant belief that the business will be operated efficiently and fairly, in the public interest, and in accordance with law<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The applicant has made acceptable provision for the avoidance of conflicts of interest; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> The applicant maintains a separate trust account with an FDIC-insured depository institution for the handling of customers’ funds; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> The applicant’s credit counselors<\/span> are certified through a bona fide third-party<\/span> certification provider unaffiliated with the applicant that authenticates the competence of counselors providing consumer<\/span> assistance; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> No more than one-third of the board of directors or managing members are employees, officers, members, principals<\/span>, trustees, directors, agents, or other representatives of organizations that grant credit to consumers<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> The applicant is accredited by the International Standards Organization or the Council on Accreditation or any other organization approved by the Commission<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> The applicant has fidelity bond<\/span> coverage in such principal<\/span> amount as may be determined by the Commission<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> The applicant (i) is not the subject of any current material<\/span> administrative or regulatory proceedings by any governmental authority and (ii) has not received a material<\/span> adverse determination in any past administrative or regulatory proceedings by any governmental authority; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

9.<\/span> The applicant has filed with the Commission<\/span> a form, that shall be provided to each consumer<\/span> prior to his execution of a DMP<\/span>, that contains the following disclosures to the consumer<\/span>: (i) all fees charged by the applicant or contributions solicited by the applicant from the consumer<\/span>; (ii) whether the applicant is a for-profit entity<\/span> or nonprofit entity<\/span>; and (iii) whether the applicant received financial support from creditors<\/span> during the preceding calendar year. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> If the Commission<\/span> fails to make such findings<\/span>, no license shall be issued and the Commissioner<\/span> shall notify the applicant of the denial and the reasons for such denial. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> A license shall not be issued to a collection agency<\/span>, or to any creditor<\/span> or association of creditors<\/span>, or to any credit-granting organization or association of such organizations. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nQUALIFICATIONS (\u00a7 6.2-2005)\n\nA. Upon the filing and investigation of an application for a license, and\ncompliance by the applicant with the provisions of \u00a7\u00a7 6.2-2002 and 6.2-2003,\nthe Commission shall issue and deliver to the applicant the license to engage in\nbusiness under this chapter at the locations specified in the application if it\nfinds that:\n\n 1. The financial responsibility, character, reputation, experience, and\n general fitness of the applicant and its members, senior officers, directors,\n trustees, and principals are such as to warrant belief that the business will\n be operated efficiently and fairly, in the public interest, and in accordance\n with law;\n\n 2. The applicant has made acceptable provision for the avoidance of conflicts\n of interest;\n\n 3. The applicant maintains a separate trust account with an FDIC-insured\n depository institution for the handling of customers’ funds;\n\n 4. The applicant’s credit counselors are certified through a bona fide\n third-party certification provider unaffiliated with the applicant that\n authenticates the competence of counselors providing consumer assistance;\n\n 5. No more than one-third of the board of directors or managing members are\n employees, officers, members, principals, trustees, directors, agents, or\n other representatives of organizations that grant credit to consumers;\n\n 6. The applicant is accredited by the International Standards Organization or\n the Council on Accreditation or any other organization approved by the\n Commission;\n\n 7. The applicant has fidelity bond coverage in such principal amount as may be\n determined by the Commission;\n\n 8. The applicant (i) is not the subject of any current material administrative\n or regulatory proceedings by any governmental authority and (ii) has not\n received a material adverse determination in any past administrative or\n regulatory proceedings by any governmental authority; and\n\n 9. The applicant has filed with the Commission a form, that shall be provided\n to each consumer prior to his execution of a DMP, that contains the following\n disclosures to the consumer: (i) all fees charged by the applicant or\n contributions solicited by the applicant from the consumer; (ii) whether the\n applicant is a for-profit entity or nonprofit entity; and (iii) whether the\n applicant received financial support from creditors during the preceding\n calendar year.\n\nB. If the Commission fails to make such findings, no license shall be issued and\nthe Commissioner shall notify the applicant of the denial and the reasons for\nsuch denial.\n\nC. A license shall not be issued to a collection agency, or to any creditor or\nassociation of creditors, or to any credit-granting organization or association\nof such organizations.\n\nHISTORY: 2004, c. 790, \u00a7 6.1-363.7; 2005, c. 315; 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"}}