{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/6.2-2230.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/6.2-2230.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/6.2-2230.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/6.2-2230.html"}],"law_id":374143,"edition_id":2,"section_id":374143,"structure_id":53202,"section_number":"6.2-2230","catch_line":"Registration; authority to transact business","history":"2022, c. 516.","full_text":"On or before November 1, 2022, every sales-based financing provider and sales-based financing broker (i) shall register with the Commission in accordance with procedures established by the Commission and (ii) unless such provider or broker is organized under the laws of Virginia or otherwise is not required to obtain authority to transact business in the Commonwealth as a foreign entity, shall obtain authority to transact business in the Commonwealth in accordance with the provisions of Title 13.1.\n\nAn application for registration shall include disclosure of any judgment, memorandum of understanding, cease and desist order, or conviction, any of which involve a crime or an act of fraud, breach of trust, or money laundering with respect to that person or any officer, director, manager, operator, or individual who otherwise controls the operations of such provider or broker.\n\nEach sales-based financing provider and sales-based financing broker shall pay an initial registration fee of $1,000 and an annual registration fee of $500 by September 15 every year thereafter. If the provider or broker fails to pay the annual registration fee by September 15, its registrations shall automatically expire by operation of law.\n\n","order_by":null,"text":{"0":{"id":1396713,"text":"On or before November 1, 2022, every sales-based financing provider and sales-based financing broker (i) shall register with the Commission in accordance with procedures established by the Commission and (ii) unless such provider or broker is organized under the laws of Virginia or otherwise is not required to obtain authority to transact business in the Commonwealth as a foreign entity, shall obtain authority to transact business in the Commonwealth in accordance with the provisions of Title 13.1.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":""},"1":{"id":1396714,"text":"An application for registration shall include disclosure of any judgment, memorandum of understanding, cease and desist order, or conviction, any of which involve a crime or an act of fraud, breach of trust, or money laundering with respect to that person or any officer, director, manager, operator, or individual who otherwise controls the operations of such provider or broker.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"prior_prefix":"","next_prefix":""},"2":{"id":1396715,"text":"Each sales-based financing provider and sales-based financing broker shall pay an initial registration fee of $1,000 and an annual registration fee of $500 by September 15 every year thereafter. If the provider or broker fails to pay the annual registration fee by September 15, its registrations shall automatically expire by operation of law.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"prior_prefix":""}},"ancestry":[{"id":53202,"edition_id":2,"name":"Sales-Based Financing Providers","identifier":"22.1","label":"chapter","depth":3,"order_by":10,"parent_id":53187,"metadata":{"child_laws":11,"child_structures":0},"date_created":"2026-08-02 03:12:57","date_modified":"2026-08-02 12:28:09","permalink":{"id":1494031,"object_type":"structure","relational_id":53202,"identifier":"22.1","token":"6.2\/III\/22.1","url":"\/6.2\/III\/22.1\/","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":374141,"structure_id":53202,"section_number":"6.2-2228","catch_line":"Definitions","url":"\/6.2-2228\/","token":"6.2\/III\/22.1\/6.2-2228","metadata":false},{"id":374142,"structure_id":53202,"section_number":"6.2-2229","catch_line":"Exemptions","url":"\/6.2-2229\/","token":"6.2\/III\/22.1\/6.2-2229","metadata":false},{"id":374143,"structure_id":53202,"section_number":"6.2-2230","catch_line":"Registration; authority to transact business","url":"\/6.2-2230\/","token":"6.2\/III\/22.1\/6.2-2230","metadata":false},{"id":374144,"structure_id":53202,"section_number":"6.2-2231","catch_line":"Disclosure requirements","url":"\/6.2-2231\/","token":"6.2\/III\/22.1\/6.2-2231","metadata":false},{"id":374145,"structure_id":53202,"section_number":"6.2-2232","catch_line":"Recipient place of business; required signature","url":"\/6.2-2232\/","token":"6.2\/III\/22.1\/6.2-2232","metadata":false},{"id":374146,"structure_id":53202,"section_number":"6.2-2233","catch_line":"Additional information","url":"\/6.2-2233\/","token":"6.2\/III\/22.1\/6.2-2233","metadata":false},{"id":374147,"structure_id":53202,"section_number":"6.2-2234","catch_line":"Place for bringing action under a contract or agreement to provide sales-based financing; certain fees paid by provider; confessions of judgment prohibited","url":"\/6.2-2234\/","token":"6.2\/III\/22.1\/6.2-2234","metadata":false},{"id":374148,"structure_id":53202,"section_number":"6.2-2235","catch_line":"Applicability of chapter to internet transactions","url":"\/6.2-2235\/","token":"6.2\/III\/22.1\/6.2-2235","metadata":false},{"id":374149,"structure_id":53202,"section_number":"6.2-2236","catch_line":"Validity of noncompliant sales-based financing","url":"\/6.2-2236\/","token":"6.2\/III\/22.1\/6.2-2236","metadata":false},{"id":374150,"structure_id":53202,"section_number":"6.2-2237","catch_line":"Regulations","url":"\/6.2-2237\/","token":"6.2\/III\/22.1\/6.2-2237","metadata":false},{"id":374151,"structure_id":53202,"section_number":"6.2-2238","catch_line":"Authority of Attorney General","url":"\/6.2-2238\/","token":"6.2\/III\/22.1\/6.2-2238","metadata":false}],"previous_section":{"id":374142,"structure_id":53202,"section_number":"6.2-2229","catch_line":"Exemptions","url":"\/6.2-2229\/","token":"6.2\/III\/22.1\/6.2-2229","metadata":false},"next_section":{"id":374144,"structure_id":53202,"section_number":"6.2-2231","catch_line":"Disclosure requirements","url":"\/6.2-2231\/","token":"6.2\/III\/22.1\/6.2-2231","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-2230\/","history_text":"

This law was first created in 2022. The record of its establishment is cataloged in chapter 516<\/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":1494041,"object_type":"law","relational_id":374143,"identifier":"6.2-2230","token":"6.2\/III\/22.1\/6.2-2230","url":"\/6.2-2230\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/6.2-2230\/","token":"6.2\/III\/22.1\/6.2-2230","dublin_core":{"Title":"Registration; authority to transact business","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-2230","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

On or before November 1, 2022, every sales-based financing provider<\/span> and sales-based financing broker<\/span> (i) shall register with the Commission<\/span> in accordance with procedures established by the Commission<\/span> and (ii) unless such provider or broker is organized under the laws<\/span> of Virginia or otherwise is not required to obtain authority to transact business in the Commonwealth as a foreign entity<\/span>, shall obtain authority to transact business in the Commonwealth in accordance with the provisions of Title 13.1.<\/p>

An application for registration shall include disclosure of any judgment<\/span>, memorandum<\/span> of understanding, cease and desist order<\/span>, or conviction<\/span>, any of which involve a crime<\/span> or an act of fraud<\/span>, breach of trust, or money laundering with respect to that person<\/span> or any officer, director, manager, operator, or individual who otherwise controls the operations of such provider or broker.<\/p>

Each sales-based financing provider<\/span> and sales-based financing broker<\/span> shall pay an initial registration fee of $1,000 and an annual registration fee of $500 by September 15 every year thereafter. If the provider or broker fails to pay the annual registration fee by September 15, its registrations shall automatically expire by operation of law<\/span>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nREGISTRATION; AUTHORITY TO TRANSACT BUSINESS (\u00a7 6.2-2230)\n\nOn or before November 1, 2022, every sales-based financing provider and\nsales-based financing broker (i) shall register with the Commission in\naccordance with procedures established by the Commission and (ii) unless such\nprovider or broker is organized under the laws of Virginia or otherwise is not\nrequired to obtain authority to transact business in the Commonwealth as a\nforeign entity, shall obtain authority to transact business in the Commonwealth\nin accordance with the provisions of Title 13.1.\n\nAn application for registration shall include disclosure of any judgment,\nmemorandum of understanding, cease and desist order, or conviction, any of which\ninvolve a crime or an act of fraud, breach of trust, or money laundering with\nrespect to that person or any officer, director, manager, operator, or\nindividual who otherwise controls the operations of such provider or broker.\n\nEach sales-based financing provider and sales-based financing broker shall pay\nan initial registration fee of $1,000 and an annual registration fee of $500 by\nSeptember 15 every year thereafter. If the provider or broker fails to pay the\nannual registration fee by September 15, its registrations shall automatically\nexpire by operation of law.\n\nHISTORY: 2022, c. 516.","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"}}