{"law_id":"778486","section_number":"6.2-2503","catch_line":"Right of rescission","history":"2006, c. 399, \u00a7 6.1-477; 2010, c. 794.","order_by":null,"metadata":false,"court_decisions":{},"official_url":"http:\/\/law.lis.virginia.gov\/vacode\/6.2-2503\/","refers_to":false,"url":"\/6.2-2503\/","token":"6.2\/IV\/25\/6.2-2503","structure":{"1":{"id":"376","name":"Refund Anticipation Loans","identifier":"25","label":"chapter","url":"\/6.2\/IV\/25\/"},"2":{"id":"375","name":"Other Financial Activities","identifier":"IV","label":"subtitle","url":"\/6.2\/IV\/"},"3":{"id":"332","name":"Financial Institutions And Services","identifier":"6.2","label":"title","url":"\/6.2\/"}},"referred_to_by":false,"edition_id":"11","section_id":"778486","structure_id":"376","full_text":"A borrower who obtains a refund anticipation loan may rescind the loan, on or before the close of business on the next day of business, by either returning the original check issued for the loan or providing the amount of the loan in cash to the lender or the facilitator. The facilitator may not charge the borrower a fee for rescinding the loan or a refund anticipation loan fee if the loan is rescinded but may charge the customer a fee for establishing and administering a bank account to electronically receive and distribute the refund.","text":{"0":{"id":"2510823","text":"A borrower who obtains a refund anticipation loan may rescind the loan, on or before the close of business on the next day of business, by either returning the original check issued for the loan or providing the amount of the loan in cash to the lender or the facilitator. The facilitator may not charge the borrower a fee for rescinding the loan or a refund anticipation loan fee if the loan is rescinded but may charge the customer a fee for establishing and administering a bank account to electronically receive and distribute the refund.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":{"1":{"id":"376","name":"Refund Anticipation Loans","identifier":"25","label":"chapter","url":"\/6.2\/IV\/25\/"},"2":{"id":"375","name":"Other Financial Activities","identifier":"IV","label":"subtitle","url":"\/6.2\/IV\/"},"3":{"id":"332","name":"Financial Institutions And Services","identifier":"6.2","label":"title","url":"\/6.2\/"}},"structure_contents":{"0":{"id":"775795","structure_id":"376","section_number":"6.2-2500","catch_line":"Definitions","url":"\/6.2-2500\/","token":"6.2\/IV\/25\/6.2-2500"},"1":{"id":"765200","structure_id":"376","section_number":"6.2-2501","catch_line":"Advertising; posting refund anticipation loan fee schedules; and disclosures","url":"\/6.2-2501\/","token":"6.2\/IV\/25\/6.2-2501"},"2":{"id":"767496","structure_id":"376","section_number":"6.2-2502","catch_line":"Prohibited activities","url":"\/6.2-2502\/","token":"6.2\/IV\/25\/6.2-2502"},"3":{"id":"778486","structure_id":"376","section_number":"6.2-2503","catch_line":"Right of rescission","url":"\/6.2-2503\/","token":"6.2\/IV\/25\/6.2-2503"},"4":{"id":"777340","structure_id":"376","section_number":"6.2-2504","catch_line":"Preemption of local laws","url":"\/6.2-2504\/","token":"6.2\/IV\/25\/6.2-2504"},"5":{"id":"790136","structure_id":"376","section_number":"6.2-2505","catch_line":"Violations; enforcement","url":"\/6.2-2505\/","token":"6.2\/IV\/25\/6.2-2505"}},"previous_section":{"id":"767496","structure_id":"376","section_number":"6.2-2502","catch_line":"Prohibited activities","url":"\/6.2-2502\/","token":"6.2\/IV\/25\/6.2-2502"},"next_section":{"id":"777340","structure_id":"376","section_number":"6.2-2504","catch_line":"Preemption of local laws","url":"\/6.2-2504\/","token":"6.2\/IV\/25\/6.2-2504"},"references":false,"formats":{"txt":"\/6.2-2503.txt","json":"\/6.2-2503.json","xml":"\/6.2-2503.xml"},"dublin_core":{"Title":"Right of rescission","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-2503","Relation":"Code of Virginia"},"plain_text":"                                 CODE OF VIRGINIA\n\nRIGHT OF RESCISSION (\u00a7 6.2-2503)\n\nA borrower who obtains a refund anticipation loan may rescind the loan, on or\nbefore the close of business on the next day of business, by either returning\nthe original check issued for the loan or providing the amount of the loan in\ncash to the lender or the facilitator. The facilitator may not charge the\nborrower a fee for rescinding the loan or a refund anticipation loan fee if the\nloan is rescinded but may charge the customer a fee for establishing and\nadministering a bank account to electronically receive and distribute the\nrefund.\n\nHISTORY: 2006, c. 399, \u00a7 6.1-477; 2010, c. 794."}