{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/38.2-4704.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/38.2-4704.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/38.2-4704.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/38.2-4704.html"}],"law_id":362698,"edition_id":2,"section_id":362698,"structure_id":51785,"section_number":"38.2-4704","catch_line":"Suspension, revocation or failure to renew license; imposition of penalty","history":"1964, c. 147, \u00a7 38.1-739; 1986, c. 562.","full_text":"The Commission may suspend, revoke or refuse to renew a license of any insurance premium finance company whenever it finds that:\n\n1\n\nThe licensee has (i) failed to pay the annual license fee, (ii) violated or failed to comply with any of the provisions of this chapter or with any rule or regulation made by the Commission pursuant to this chapter, or (iii) violated or failed to comply with any order, demand, ruling, provision or requirement of the Commission lawfully made pursuant to or within the authority of this chapter; or\n\n2\n\nThe licensee no longer meets the standards required for the initial issuance of a license.\n\n","order_by":null,"text":{"0":{"id":1350811,"text":"The Commission may suspend, revoke or refuse to renew a license of any insurance premium finance company whenever it finds that:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":1350812,"text":"The licensee has (i) failed to pay the annual license fee, (ii) violated or failed to comply with any of the provisions of this chapter or with any rule or regulation made by the Commission pursuant to this chapter, or (iii) violated or failed to comply with any order, demand, ruling, provision or requirement of the Commission lawfully made pursuant to or within the authority of this chapter; or","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":1350813,"text":"The licensee no longer meets the standards required for the initial issuance of a license.","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1"}},"ancestry":[{"id":51785,"edition_id":2,"name":"Insurance Premium Finance Companies","identifier":"47","label":"chapter","depth":2,"order_by":49,"parent_id":51644,"metadata":{"child_laws":13,"child_structures":0},"date_created":"2026-08-02 02:48:44","date_modified":"2026-08-02 12:33:20","permalink":{"id":1444237,"object_type":"structure","relational_id":51785,"identifier":"47","token":"38.2\/47","url":"\/38.2\/47\/","edition_id":2,"permalink":0,"preferred":1}},{"id":51644,"edition_id":2,"name":"Insurance","identifier":"38.2","label":"title","depth":1,"order_by":88,"parent_id":null,"metadata":{"child_laws":1890,"child_structures":173},"date_created":"2026-08-02 02:45:30","date_modified":"2026-08-02 12:32:55","permalink":{"id":1437663,"object_type":"structure","relational_id":51644,"identifier":"38.2","token":"38.2","url":"\/38.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":362694,"structure_id":51785,"section_number":"38.2-4700","catch_line":"What persons deemed insurance premium finance companies","url":"\/38.2-4700\/","token":"38.2\/47\/38.2-4700","metadata":false},{"id":362695,"structure_id":51785,"section_number":"38.2-4701","catch_line":"License required; application; fee","url":"\/38.2-4701\/","token":"38.2\/47\/38.2-4701","metadata":{"court_decisions":""}},{"id":362696,"structure_id":51785,"section_number":"38.2-4702","catch_line":"Investigation of applicant; issuance of license","url":"\/38.2-4702\/","token":"38.2\/47\/38.2-4702","metadata":false},{"id":362697,"structure_id":51785,"section_number":"38.2-4703","catch_line":"Renewal of license","url":"\/38.2-4703\/","token":"38.2\/47\/38.2-4703","metadata":false},{"id":362698,"structure_id":51785,"section_number":"38.2-4704","catch_line":"Suspension, revocation or failure to renew license; imposition of penalty","url":"\/38.2-4704\/","token":"38.2\/47\/38.2-4704","metadata":false},{"id":362699,"structure_id":51785,"section_number":"38.2-4705","catch_line":"Maximum interest rate and maximum service charge on premium finance agreement","url":"\/38.2-4705\/","token":"38.2\/47\/38.2-4705","metadata":{"court_decisions":{"0":{"name":"Devnew v. Brown & Brown, Inc.","case_number":"Civ.A.2:05CV00400","citation":"396 F. Supp. 2d 665","date":"2005-10-17","url":"https:\/\/www.courtlistener.com\/opinion\/2567270\/devnew-v-brown-brown-inc\/","abstract":" .\u202f.\u202f. 396 F.Supp.2d 665 (2005) .\u202f.\u202f. ","court_html":"District Court, E.D. Virginia"}}}},{"id":362700,"structure_id":51785,"section_number":"38.2-4706","catch_line":"Default charge; bad check charge","url":"\/38.2-4706\/","token":"38.2\/47\/38.2-4706","metadata":{"court_decisions":""}},{"id":362701,"structure_id":51785,"section_number":"38.2-4707","catch_line":"Forms of premium finance agreements and related forms to be approved by Commission; false or misleading statements or omissions prohibited","url":"\/38.2-4707\/","token":"38.2\/47\/38.2-4707","metadata":{"court_decisions":""}},{"id":362702,"structure_id":51785,"section_number":"38.2-4708","catch_line":"Examination of books and records of company; bond; rules and regulations; order by Commission to remedy concerns","url":"\/38.2-4708\/","token":"38.2\/47\/38.2-4708","metadata":{"court_decisions":""}},{"id":362703,"structure_id":51785,"section_number":"38.2-4709","catch_line":"Disposition of license and other fees","url":"\/38.2-4709\/","token":"38.2\/47\/38.2-4709","metadata":{"court_decisions":""}},{"id":362704,"structure_id":51785,"section_number":"38.2-4710","catch_line":"Penalty for engaging in business without license","url":"\/38.2-4710\/","token":"38.2\/47\/38.2-4710","metadata":{"court_decisions":""}},{"id":362705,"structure_id":51785,"section_number":"38.2-4711","catch_line":"Exemptions","url":"\/38.2-4711\/","token":"38.2\/47\/38.2-4711","metadata":{"court_decisions":""}},{"id":362706,"structure_id":51785,"section_number":"38.2-4712","catch_line":"Validity of secured transactions","url":"\/38.2-4712\/","token":"38.2\/47\/38.2-4712","metadata":{"court_decisions":""}}],"previous_section":{"id":362697,"structure_id":51785,"section_number":"38.2-4703","catch_line":"Renewal of license","url":"\/38.2-4703\/","token":"38.2\/47\/38.2-4703","metadata":false},"next_section":{"id":362699,"structure_id":51785,"section_number":"38.2-4705","catch_line":"Maximum interest rate and maximum service charge on premium finance agreement","url":"\/38.2-4705\/","token":"38.2\/47\/38.2-4705","metadata":{"court_decisions":{"0":{"name":"Devnew v. Brown & Brown, Inc.","case_number":"Civ.A.2:05CV00400","citation":"396 F. Supp. 2d 665","date":"2005-10-17","url":"https:\/\/www.courtlistener.com\/opinion\/2567270\/devnew-v-brown-brown-inc\/","abstract":" .\u202f.\u202f. 396 F.Supp.2d 665 (2005) .\u202f.\u202f. ","court_html":"District Court, E.D. Virginia"}}}},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-4704\/","history_text":"

This law was first created in 1964. The record of its establishment is cataloged in chapter 147 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1964 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 1986, chapter 562.<\/p>","references":[{"id":362697,"section_number":"38.2-4703","catch_line":"Renewal of license","order_by":null,"url":"\/38.2-4703\/"}],"refers_to":false,"permalink":{"id":1444255,"object_type":"law","relational_id":362698,"identifier":"38.2-4704","token":"38.2\/47\/38.2-4704","url":"\/38.2-4704\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/38.2-4704\/","token":"38.2\/47\/38.2-4704","dublin_core":{"Title":"Suspension, revocation or failure to renew license; imposition of penalty","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-4704","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The Commission<\/span> may suspend, revoke or refuse to renew a license of any insurance<\/span> premium finance company<\/span> whenever it finds that:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The licensee has (i) failed to pay the annual license fee, (ii) violated or failed to comply with any of the provisions of this chapter or with any rule or regulation made by the Commission<\/span> pursuant to this chapter, or (iii) violated or failed to comply with any order<\/span>, demand, ruling, provision or requirement of the Commission<\/span> lawfully made pursuant to or within the authority of this chapter; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The licensee no longer meets the standards required for the initial issuance of a license. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSUSPENSION, REVOCATION OR FAILURE TO RENEW LICENSE; IMPOSITION OF PENALTY (\u00a7\n38.2-4704)\n\nThe Commission may suspend, revoke or refuse to renew a license of any insurance\npremium finance company whenever it finds that:\n\n1. The licensee has (i) failed to pay the annual license fee, (ii) violated or\nfailed to comply with any of the provisions of this chapter or with any rule or\nregulation made by the Commission pursuant to this chapter, or (iii) violated or\nfailed to comply with any order, demand, ruling, provision or requirement of the\nCommission lawfully made pursuant to or within the authority of this chapter; or\n\n2. The licensee no longer meets the standards required for the initial issuance\nof a license.\n\nHISTORY: 1964, c. 147, \u00a7 38.1-739; 1986, c. 562.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}