                                 CODE OF VIRGINIA

(REPEALED EFFECTIVE JULY 1, 2026) DEFINITIONS. (§ 6.2-1900)

As used in this chapter, unless the context requires a different
meaning:		&#8220;Authorized delegate&#8221; means a person designated or
appointed by a licensee to sell money orders or provide money transmission
services on behalf of the licensee.		&#8220;Licensee&#8221; means a person
licensed under this chapter to engage in the business of selling money orders or
the business of money transmission, or both.		&#8220;Member&#8221; means a
person who owns or controls a 10 percent or greater interest in a limited
liability company.		&#8220;Monetary value&#8221; means a medium of exchange,
whether or not redeemable in money.		&#8220;Money order&#8221; means a check,
traveler&#8217;s check, draft, or other instrument for the transmission or
payment of money or monetary value whether or not negotiable.		&#8220;Money
order seller&#8221; means a person engaged in the business of selling money
orders.		&#8220;Money transmission&#8221; means receiving money or monetary
value for transmission by wire, facsimile, electronic means or other means or
selling or issuing stored value.		&#8220;Money transmitter&#8221; means a person
engaged in the business of money transmission.		&#8220;Nationwide Multistate
Licensing System and Registry&#8221; or &#8220;Registry&#8221; means the
licensing and registration system operated by the State Regulatory Registry
LLC.		&#8220;Outstanding&#8221; means:

1. With respect to a money order, a money order that has been issued and sold
directly by a licensee, or sold by an authorized delegate of the licensee and
reported to the licensee, that has not yet been paid by or on behalf of the
licensee; or

2. With respect to a money transmission transaction, a money transmission
transaction for which the licensee, directly or through an authorized delegate
of the licensee, has received money or monetary value from a customer for
transmission, but has not yet (i) completed the money transmission transaction
by delivering the money or monetary value to the person designated by the
customer, or (ii) refunded the money or monetary value to the customer.
			&#8220;Principal&#8221; means any person who, directly or indirectly, owns or
controls a 10 percent or greater interest in any form of entity.			&#8220;Stored
value&#8221; means monetary value that is evidenced by an electronic record.

HISTORY: 1974, c. 578, § 6.1-370; 1994, c. 889; 1998, c. 10; 2001, c. 372;
2009, c. 346; 2010, c. 794; 2014, c. 454; 2019, c. 634; 2025, c. 214.