CODE OF VIRGINIA

DUTY TO REFUND UNAUTHORIZED OR EXCESS CHARGES; LIABILITY TO BORROWER FOR PENALTY
(§ 6.2-1542)

A. If any amount not authorized by this chapter or in excess of the charges
permitted by this chapter is charged and received by a licensee, such
unauthorized or excess charge actually received by a licensee shall be refunded
to the borrower or credited to the borrower’s account.

B. Except for excess charges charged and received as the result of a bona fide
error of computation that was not made pursuant to a regular course of dealing,
the licensee shall be liable to the borrower for a penalty of twice the amount
of any unauthorized or excess charge actually received by the licensee and for
any court costs and reasonable attorney fees incurred by the borrower.

HISTORY: Code 1950, § 6-338; 1956, c. 71; 1966, c. 584, § 6.1-309; 1976, c.
658; 1986, c. 502; 2010, c. 794.