§ 6.2-502 Notification of action on credit application
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.
History
This law was first created in 1977. The record of its establishment is cataloged in chapter 589 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1977 “Acts” aren’t available online. It has been modified 2 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 2002, chapter 747; in 2010, chapter 794.
1977, c. 589, § 59.1-21.21:1; 2002, c. 747; 2010, c. 794.