Industrial Loan Associations
This is Chapter 14 of the Code of Virginia, titled “Industrial Loan Associations.” It is part of Title 6.2, titled “Financial Institutions And Services.” It is part of Subtitle III, titled “Other Regulated Providers Of Financial Services.” It’s comprised of the following 22 sections.
- § 6.2-1400
- Definitions
- § 6.2-1401
- Powers of associations
- § 6.2-1402
- Use of certain words in name prohibited
- § 6.2-1403
- Directors
- § 6.2-1404
- Commission may regulate issuance of evidences of debt
- § 6.2-1405
- Extent to which associations regarded as banks; conversion of certain associations to banks; new associations not authorized
- § 6.2-1406
- Sale of certificates of investment by certain associations prohibited
- § 6.2-1407
- Prohibitions on associations with certificates issued and outstanding; advertisements
- § 6.2-1408
- Associations to have one office; how office moved
- § 6.2-1409
- Prepayment by borrower from association; rebates for unearned interest; prepayment penalty
- § 6.2-1410
- Amount of loan
- § 6.2-1411
- Retention of books, accounts, and records
- § 6.2-1412
- Annual report
- § 6.2-1413
- Investigations; examinations
- § 6.2-1414
- Annual fees
- § 6.2-1415
- Regulations
- § 6.2-1416
- Prohibited practices
- § 6.2-1417
- Escrow accounts
- § 6.2-1418
- Suspension or revocation of authority
- § 6.2-1419
- Cease and desist orders
- § 6.2-1420
- Notice of proposed suspension or revocation
- § 6.2-1421
- Civil penalties