{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/6.2-502.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/6.2-502.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/6.2-502.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/6.2-502.html"}],"law_id":374269,"edition_id":2,"section_id":374269,"structure_id":53219,"section_number":"6.2-502","catch_line":"Notification of action on credit application","history":"1977, c. 589, \u00a7 59.1-21.21:1; 2002, c. 747; 2010, c. 794.","full_text":"Within 30 days, or such longer reasonable time as specified in regulations of the Commission for any class of credit transaction, after receipt of a completed application for credit, a creditor shall notify the applicant of its action on the application.\n\n","order_by":null,"text":{"0":{"id":1397210,"text":"Within 30 days, or such longer reasonable time as specified in regulations of the Commission for any class of credit transaction, after receipt of a completed application for credit, a creditor shall notify the applicant of its action on the application.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":53219,"edition_id":2,"name":"Equal Credit Opportunities","identifier":"5","label":"chapter","depth":3,"order_by":5,"parent_id":53153,"metadata":{"child_laws":14,"child_structures":0},"date_created":"2026-08-02 03:13:15","date_modified":"2026-08-02 12:27:56","permalink":{"id":1490629,"object_type":"structure","relational_id":53219,"identifier":"5","token":"6.2\/I\/5","url":"\/6.2\/I\/5\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53153,"edition_id":2,"name":"General Provisions","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":53152,"metadata":{"child_laws":99,"child_structures":18},"date_created":"2026-08-02 03:11:41","date_modified":"2026-08-02 12:27:54","permalink":{"id":1490253,"object_type":"structure","relational_id":53153,"identifier":"I","token":"6.2\/I","url":"\/6.2\/I\/","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":374267,"structure_id":53219,"section_number":"6.2-500","catch_line":"Definitions","url":"\/6.2-500\/","token":"6.2\/I\/5\/6.2-500","metadata":false},{"id":374268,"structure_id":53219,"section_number":"6.2-501","catch_line":"Prohibited discrimination","url":"\/6.2-501\/","token":"6.2\/I\/5\/6.2-501","metadata":false},{"id":374269,"structure_id":53219,"section_number":"6.2-502","catch_line":"Notification of action on credit application","url":"\/6.2-502\/","token":"6.2\/I\/5\/6.2-502","metadata":false},{"id":374270,"structure_id":53219,"section_number":"6.2-503","catch_line":"Statement of reasons for adverse action","url":"\/6.2-503\/","token":"6.2\/I\/5\/6.2-503","metadata":false},{"id":374271,"structure_id":53219,"section_number":"6.2-504","catch_line":"Requirement of signatures of both parties to a marriage not discriminatory in a secured transaction","url":"\/6.2-504\/","token":"6.2\/I\/5\/6.2-504","metadata":false},{"id":374272,"structure_id":53219,"section_number":"6.2-505","catch_line":"Remedies for violation","url":"\/6.2-505\/","token":"6.2\/I\/5\/6.2-505","metadata":false},{"id":374273,"structure_id":53219,"section_number":"6.2-506","catch_line":"Commission regulations","url":"\/6.2-506\/","token":"6.2\/I\/5\/6.2-506","metadata":false},{"id":374274,"structure_id":53219,"section_number":"6.2-507","catch_line":"Limitation on liability","url":"\/6.2-507\/","token":"6.2\/I\/5\/6.2-507","metadata":false},{"id":374275,"structure_id":53219,"section_number":"6.2-508","catch_line":"Compliance with Equal Credit Opportunity Act constitutes compliance with chapter","url":"\/6.2-508\/","token":"6.2\/I\/5\/6.2-508","metadata":false},{"id":374276,"structure_id":53219,"section_number":"6.2-509","catch_line":"Public to be informed of rights under chapter","url":"\/6.2-509\/","token":"6.2\/I\/5\/6.2-509","metadata":false},{"id":374277,"structure_id":53219,"section_number":"6.2-510","catch_line":"Commission to investigate complaints; records to be open to public","url":"\/6.2-510\/","token":"6.2\/I\/5\/6.2-510","metadata":false},{"id":374278,"structure_id":53219,"section_number":"6.2-511","catch_line":"Credit standards discoverable","url":"\/6.2-511\/","token":"6.2\/I\/5\/6.2-511","metadata":false},{"id":374279,"structure_id":53219,"section_number":"6.2-512","catch_line":"Election of remedies","url":"\/6.2-512\/","token":"6.2\/I\/5\/6.2-512","metadata":false},{"id":374280,"structure_id":53219,"section_number":"6.2-513","catch_line":"Authority of Attorney General","url":"\/6.2-513\/","token":"6.2\/I\/5\/6.2-513","metadata":false}],"previous_section":{"id":374268,"structure_id":53219,"section_number":"6.2-501","catch_line":"Prohibited discrimination","url":"\/6.2-501\/","token":"6.2\/I\/5\/6.2-501","metadata":false},"next_section":{"id":374270,"structure_id":53219,"section_number":"6.2-503","catch_line":"Statement of reasons for adverse action","url":"\/6.2-503\/","token":"6.2\/I\/5\/6.2-503","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-502\/","history_text":"<p>This law was first created in 1977. The record of its establishment is cataloged in chapter 589 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. Unfortunately, the 1977 \u201cActs\u201d aren\u2019t available online. 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 2002, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?021+ful+CHAP0747\">747<\/a>; in 2010, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?101+ful+CHAP0794\">794<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":1490639,"object_type":"law","relational_id":374269,"identifier":"6.2-502","token":"6.2\/I\/5\/6.2-502","url":"\/6.2-502\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/6.2-502\/","token":"6.2\/I\/5\/6.2-502","dublin_core":{"Title":"Notification of action on credit application","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-502","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>Within 30 days, or such longer reasonable time as specified in regulations of the <span class=\"dictionary\">Commission<\/span> for any class of <span class=\"dictionary\">credit<\/span> transaction, after receipt of a completed application for <span class=\"dictionary\">credit<\/span>, a <span class=\"dictionary\">creditor<\/span> shall notify the <span class=\"dictionary\">applicant<\/span> of its action on the application.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nNOTIFICATION OF ACTION ON CREDIT APPLICATION (\u00a7 6.2-502)\n\nWithin 30 days, or such longer reasonable time as specified in regulations of\nthe Commission for any class of credit transaction, after receipt of a completed\napplication for credit, a creditor shall notify the applicant of its action on\nthe application.\n\nHISTORY: 1977, c. 589, \u00a7 59.1-21.21:1; 2002, c. 747; 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"}}