CODE OF VIRGINIA

ADVERTISING (§ 6.2-2218)

A. No person licensed or required to be licensed under this chapter shall use or
cause to be published any advertisement that (i) contains any false, misleading,
or deceptive statement or representation or (ii) identifies the person by any
name other than the name set forth on the license issued by the Commission.

B. Any advertising materials used to promote the price, cost, or interest rate
of motor vehicle title loans shall disclose the amount of any minimum monthly
payments and a statement of finance charges, expressed as an annual percentage
rate, payable using as an example a $ 1,000 loan that is repaid over a 12-month
period. In any print media advertisement, including any web page, used to
promote motor vehicle title loans, the disclosure shall be conspicuous.
“Conspicuous” shall have the meaning set forth in subdivision (a)
(14) of § 59.1-501.2. If a single advertisement consists of multiple pages,
folds, or faces, the disclosure requirement applies only to one page, fold, or
face. In a television advertisement used to promote motor vehicle title loans,
the visual disclosure legend shall include 20 scan lines in size. In a radio
advertisement or advertisement communicated by telephone used to promote motor
vehicle title loans, the disclosure statement shall last at least two seconds
and the statement shall be spoken so that its contents may be easily understood.

HISTORY: 2010, c. 477, § 6.1-498.