CODE OF VIRGINIA EFFECT OF LICENSE REVOCATION, SUSPENSION, OR SURRENDER (§ 6.2-1515) The revocation, suspension, or surrender of any license shall not impair or affect the obligation of any preexisting lawful contract between the licensee and any borrower. HISTORY: Code 1950, § 6-294; 1966, c. 584, § 6.1-264; 2010, c. 794.