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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>373948</law_id><section_number>6.2-1807</section_number><catch_line>Licenses; places of offices; changes</catch_line><edition url="https://vacode.org/2026/" slug="2026" current="TRUE" last_updated="2026-08-02">2026</edition><structure><unit label="title" level="1" order_by="10" identifier="6.2">Financial Institutions and Services</unit><unit label="subtitle" level="2" order_by="3" identifier="III">Other Regulated Providers of Financial Services</unit><unit label="chapter" level="3" order_by="4" identifier="18">Short-term Loans</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> Each license shall: <a id="paragraph-1395741" class="section-permalink" href="https://vacode.org/6.2-1807/#A"><i class="fa fa-link"/></a></p></section>
						<section id="A1" class="indent-1"><p><span class="prefix-number">1.</span> State the address of each approved office at which the business is to be conducted; <a id="paragraph-1395742" class="section-permalink" href="https://vacode.org/6.2-1807/#A1"><i class="fa fa-link"/></a></p></section>
						<section id="A2" class="indent-1"><p><span class="prefix-number">2.</span> State fully the name of the <span class="dictionary">licensee</span>; and <a id="paragraph-1395743" class="section-permalink" href="https://vacode.org/6.2-1807/#A2"><i class="fa fa-link"/></a></p></section>
						<section id="A3" class="indent-1"><p><span class="prefix-number">3.</span> Be prominently posted in each office of the <span class="dictionary">licensee</span>. <a id="paragraph-1395744" class="section-permalink" href="https://vacode.org/6.2-1807/#A3"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> No <span class="dictionary">licensee</span> shall: <a id="paragraph-1395745" class="section-permalink" href="https://vacode.org/6.2-1807/#B"><i class="fa fa-link"/></a></p></section>
						<section id="B1" class="indent-1"><p><span class="prefix-number">1.</span> Use any name other than the name set forth on the license issued by the <span class="dictionary">Commission</span>; or <a id="paragraph-1395746" class="section-permalink" href="https://vacode.org/6.2-1807/#B1"><i class="fa fa-link"/></a></p></section>
						<section id="B2" class="indent-1"><p><span class="prefix-number">2.</span> Open an additional office or relocate any office without prior approval of the <span class="dictionary">Commission</span>. <a id="paragraph-1395747" class="section-permalink" href="https://vacode.org/6.2-1807/#B2"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">C.</span> Applications for <span class="dictionary">Commission</span> approval to open an additional office or relocate any office shall be made in writing on a form provided by the <span class="dictionary">Commissioner</span> and shall be accompanied by payment of a $150 nonrefundable application fee or other reasonable amount as the <span class="dictionary">Commission</span> may prescribe by regulation. The application shall be approved unless the <span class="dictionary">Commission</span> finds that the applicant does not have the required liquid <span class="dictionary">assets</span> or has not conducted business under this chapter efficiently, fairly, in the public <span class="dictionary">interest</span>, and in accordance with <span class="dictionary">law</span>. The application shall be deemed approved if notice to the contrary has not been mailed by the <span class="dictionary">Commission</span> to the applicant within 30 days of the date the application is received by the <span class="dictionary">Commission</span>. After approval, the applicant shall give written notice to the <span class="dictionary">Commissioner</span> within 10 days of the commencement of business at the additional office or relocated office. <a id="paragraph-1395748" class="section-permalink" href="https://vacode.org/6.2-1807/#C"><i class="fa fa-link"/></a></p></section>
						<section id="D"><p><span class="prefix-number">D.</span> Every <span class="dictionary">licensee</span> shall within 10 days notify the <span class="dictionary">Commissioner</span>, in writing, of the closing of any office and of the name, address, and position of each new senior officer, member, partner, or director and provide such other information with respect to any such change as the <span class="dictionary">Commissioner</span> may reasonably require. <a id="paragraph-1395749" class="section-permalink" href="https://vacode.org/6.2-1807/#D"><i class="fa fa-link"/></a></p></section>
						<section id="E"><p><span class="prefix-number">E.</span> Licenses shall: <a id="paragraph-1395750" class="section-permalink" href="https://vacode.org/6.2-1807/#E"><i class="fa fa-link"/></a></p></section>
						<section id="E1" class="indent-1"><p><span class="prefix-number">1.</span> Not be transferable or assignable, by operation of <span class="dictionary">law</span> or otherwise; and <a id="paragraph-1395751" class="section-permalink" href="https://vacode.org/6.2-1807/#E1"><i class="fa fa-link"/></a></p></section>
						<section id="E2" class="indent-1"><p><span class="prefix-number">2.</span> Remain in force until they have been surrendered, revoked, or suspended. The surrender, <span class="dictionary">revocation</span>, or suspension of a license shall not affect any preexisting legal right or obligation of the <span class="dictionary">licensee</span>. <a id="paragraph-1395752" class="section-permalink" href="https://vacode.org/6.2-1807/#E2"><i class="fa fa-link"/></a></p></section></text><history>2002, c. 897, &#xA7; 6.1-451; 2010, c. 794; 2020, cc. 1215, 1258.</history><metadata></metadata></law>
