{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/6.2-1804.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/6.2-1804.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/6.2-1804.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/6.2-1804.html"}],"law_id":373945,"edition_id":2,"section_id":373945,"structure_id":53192,"section_number":"6.2-1804","catch_line":"Bond required","history":"2002, c. 897, \u00a7 6.1-448; 2010, c. 794; 2020, cc. 1215, 1258.","full_text":"The application for a license shall be accompanied by a bond filed with the Commissioner with corporate surety authorized to execute such bond in the Commonwealth, in the sum of $10,000 per office, or such greater sum as the Commission may require, but not to exceed a total of $500,000. The form of such bond shall be approved by the Commission. The bond shall be continuously maintained thereafter in full force. The bond shall be conditioned upon the applicant or licensee performing all written agreements with borrowers or prospective borrowers, correctly and accurately accounting for all funds received by him in his licensed business, and conducting his licensed business in conformity with this chapter and all other applicable law. Any person who may be damaged by noncompliance of the licensee with any condition of such bond may proceed on such bond against the principal or surety thereon, or both, to recover damages. The aggregate liability under the bond shall not exceed the penal sum of the bond.\n\n","order_by":null,"text":{"0":{"id":1395735,"text":"The application for a license shall be accompanied by a bond filed with the Commissioner with corporate surety authorized to execute such bond in the Commonwealth, in the sum of $10,000 per office, or such greater sum as the Commission may require, but not to exceed a total of $500,000. The form of such bond shall be approved by the Commission. The bond shall be continuously maintained thereafter in full force. The bond shall be conditioned upon the applicant or licensee performing all written agreements with borrowers or prospective borrowers, correctly and accurately accounting for all funds received by him in his licensed business, and conducting his licensed business in conformity with this chapter and all other applicable law. Any person who may be damaged by noncompliance of the licensee with any condition of such bond may proceed on such bond against the principal or surety thereon, or both, to recover damages. The aggregate liability under the bond shall not exceed the penal sum of the bond.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":53192,"edition_id":2,"name":"Short-term Loans","identifier":"18","label":"chapter","depth":3,"order_by":4,"parent_id":53187,"metadata":{"child_laws":36,"child_structures":0},"date_created":"2026-08-02 03:12:34","date_modified":"2026-08-02 12:28:08","permalink":{"id":1493237,"object_type":"structure","relational_id":53192,"identifier":"18","token":"6.2\/III\/18","url":"\/6.2\/III\/18\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53187,"edition_id":2,"name":"Other Regulated Providers of Financial Services","identifier":"III","label":"subtitle","depth":2,"order_by":3,"parent_id":53152,"metadata":{"child_laws":332,"child_structures":12},"date_created":"2026-08-02 03:12:17","date_modified":"2026-08-02 12:28:07","permalink":{"id":1492723,"object_type":"structure","relational_id":53187,"identifier":"III","token":"6.2\/III","url":"\/6.2\/III\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53152,"edition_id":2,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":10,"parent_id":null,"metadata":{"child_laws":961,"child_structures":89},"date_created":"2026-08-02 03:11:41","date_modified":"2026-08-02 12:27:53","permalink":{"id":1490251,"object_type":"structure","relational_id":53152,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":373941,"structure_id":53192,"section_number":"6.2-1800","catch_line":"Definitions","url":"\/6.2-1800\/","token":"6.2\/III\/18\/6.2-1800","metadata":false},{"id":373942,"structure_id":53192,"section_number":"6.2-1801","catch_line":"License requirement","url":"\/6.2-1801\/","token":"6.2\/III\/18\/6.2-1801","metadata":{"court_decisions":""}},{"id":373943,"structure_id":53192,"section_number":"6.2-1802","catch_line":"Applicability","url":"\/6.2-1802\/","token":"6.2\/III\/18\/6.2-1802","metadata":{"court_decisions":""}},{"id":373944,"structure_id":53192,"section_number":"6.2-1803","catch_line":"Application for license; form; content; fee","url":"\/6.2-1803\/","token":"6.2\/III\/18\/6.2-1803","metadata":false},{"id":373945,"structure_id":53192,"section_number":"6.2-1804","catch_line":"Bond required","url":"\/6.2-1804\/","token":"6.2\/III\/18\/6.2-1804","metadata":{"court_decisions":""}},{"id":373946,"structure_id":53192,"section_number":"6.2-1805","catch_line":"Investigation of applications","url":"\/6.2-1805\/","token":"6.2\/III\/18\/6.2-1805","metadata":false},{"id":373947,"structure_id":53192,"section_number":"6.2-1806","catch_line":"Qualifications","url":"\/6.2-1806\/","token":"6.2\/III\/18\/6.2-1806","metadata":false},{"id":373948,"structure_id":53192,"section_number":"6.2-1807","catch_line":"Licenses; places of offices; changes","url":"\/6.2-1807\/","token":"6.2\/III\/18\/6.2-1807","metadata":false},{"id":373949,"structure_id":53192,"section_number":"6.2-1808","catch_line":"Acquisition of control; application","url":"\/6.2-1808\/","token":"6.2\/III\/18\/6.2-1808","metadata":false},{"id":373950,"structure_id":53192,"section_number":"6.2-1809","catch_line":"Retention of books, accounts, and records","url":"\/6.2-1809\/","token":"6.2\/III\/18\/6.2-1809","metadata":false},{"id":373951,"structure_id":53192,"section_number":"6.2-1810","catch_line":"Loan database","url":"\/6.2-1810\/","token":"6.2\/III\/18\/6.2-1810","metadata":false},{"id":373952,"structure_id":53192,"section_number":"6.2-1811","catch_line":"Annual report","url":"\/6.2-1811\/","token":"6.2\/III\/18\/6.2-1811","metadata":false},{"id":373953,"structure_id":53192,"section_number":"6.2-1812","catch_line":"Other reporting requirements","url":"\/6.2-1812\/","token":"6.2\/III\/18\/6.2-1812","metadata":false},{"id":373954,"structure_id":53192,"section_number":"6.2-1813","catch_line":"Investigations; examinations","url":"\/6.2-1813\/","token":"6.2\/III\/18\/6.2-1813","metadata":false},{"id":373955,"structure_id":53192,"section_number":"6.2-1814","catch_line":"Annual fees","url":"\/6.2-1814\/","token":"6.2\/III\/18\/6.2-1814","metadata":false},{"id":373956,"structure_id":53192,"section_number":"6.2-1815","catch_line":"Regulations","url":"\/6.2-1815\/","token":"6.2\/III\/18\/6.2-1815","metadata":false},{"id":373958,"structure_id":53192,"section_number":"6.2-1816","catch_line":"Required and prohibited business methods","url":"\/6.2-1816\/","token":"6.2\/III\/18\/6.2-1816","metadata":{"court_decisions":{"0":{"name":"Ruby v. Cashnet, Inc.","case_number":"100287","citation":"708 S.E.2d 871","date":"2011-04-21","url":"https:\/\/www.courtlistener.com\/opinion\/1058039\/ruby-v-cashnet-inc\/","abstract":" .\u202f.\u202f. 708 S.E.2d 871 (2011) .\u202f.\u202f. ","court_html":"<abbr title=\"Supreme Court of Virginia\">SCV<\/abbr>"}}}},{"id":373957,"structure_id":53192,"section_number":"6.2-1816.1","catch_line":"Loan terms and conditions","url":"\/6.2-1816.1\/","token":"6.2\/III\/18\/6.2-1816.1","metadata":false},{"id":373960,"structure_id":53192,"section_number":"6.2-1817","catch_line":"Authorized fees and charges","url":"\/6.2-1817\/","token":"6.2\/III\/18\/6.2-1817","metadata":false},{"id":373959,"structure_id":53192,"section_number":"6.2-1817.1","catch_line":"Inflation adjustment of maximum monthly maintenance fee","url":"\/6.2-1817.1\/","token":"6.2\/III\/18\/6.2-1817.1","metadata":false},{"id":373965,"structure_id":53192,"section_number":"6.2-1818","catch_line":"Repealed","url":"\/6.2-1818\/","token":"6.2\/III\/18\/6.2-1818","metadata":false},{"id":373961,"structure_id":53192,"section_number":"6.2-1818.1","catch_line":"Refinancing of short-term loans","url":"\/6.2-1818.1\/","token":"6.2\/III\/18\/6.2-1818.1","metadata":false},{"id":373962,"structure_id":53192,"section_number":"6.2-1818.2","catch_line":"Statement of balance due; repayment and refunds","url":"\/6.2-1818.2\/","token":"6.2\/III\/18\/6.2-1818.2","metadata":false},{"id":373963,"structure_id":53192,"section_number":"6.2-1818.3","catch_line":"Restriction on certain fees and charges","url":"\/6.2-1818.3\/","token":"6.2\/III\/18\/6.2-1818.3","metadata":false},{"id":373964,"structure_id":53192,"section_number":"6.2-1818.4","catch_line":"Verification of borrower's income","url":"\/6.2-1818.4\/","token":"6.2\/III\/18\/6.2-1818.4","metadata":false},{"id":373966,"structure_id":53192,"section_number":"6.2-1819","catch_line":"Advertising","url":"\/6.2-1819\/","token":"6.2\/III\/18\/6.2-1819","metadata":false},{"id":373967,"structure_id":53192,"section_number":"6.2-1820","catch_line":"Other business","url":"\/6.2-1820\/","token":"6.2\/III\/18\/6.2-1820","metadata":false},{"id":373968,"structure_id":53192,"section_number":"6.2-1821","catch_line":"Suspension or revocation of license","url":"\/6.2-1821\/","token":"6.2\/III\/18\/6.2-1821","metadata":false},{"id":373969,"structure_id":53192,"section_number":"6.2-1822","catch_line":"Cease and desist orders","url":"\/6.2-1822\/","token":"6.2\/III\/18\/6.2-1822","metadata":false},{"id":373970,"structure_id":53192,"section_number":"6.2-1823","catch_line":"Notice of proposed suspension or revocation","url":"\/6.2-1823\/","token":"6.2\/III\/18\/6.2-1823","metadata":false},{"id":373971,"structure_id":53192,"section_number":"6.2-1824","catch_line":"Civil penalties","url":"\/6.2-1824\/","token":"6.2\/III\/18\/6.2-1824","metadata":false},{"id":373972,"structure_id":53192,"section_number":"6.2-1825","catch_line":"Criminal penalties","url":"\/6.2-1825\/","token":"6.2\/III\/18\/6.2-1825","metadata":{"court_decisions":""}},{"id":373973,"structure_id":53192,"section_number":"6.2-1826","catch_line":"Validity of noncompliant loan agreement; private right of action","url":"\/6.2-1826\/","token":"6.2\/III\/18\/6.2-1826","metadata":false},{"id":373974,"structure_id":53192,"section_number":"6.2-1827","catch_line":"Application of chapter to Internet loans","url":"\/6.2-1827\/","token":"6.2\/III\/18\/6.2-1827","metadata":false},{"id":373975,"structure_id":53192,"section_number":"6.2-1828","catch_line":"Authority of Attorney General; referral by Commission to Attorney General","url":"\/6.2-1828\/","token":"6.2\/III\/18\/6.2-1828","metadata":{"court_decisions":""}},{"id":373976,"structure_id":53192,"section_number":"6.2-1829","catch_line":"Violation of the Virginia Consumer Protection Act","url":"\/6.2-1829\/","token":"6.2\/III\/18\/6.2-1829","metadata":false}],"previous_section":{"id":373944,"structure_id":53192,"section_number":"6.2-1803","catch_line":"Application for license; form; content; fee","url":"\/6.2-1803\/","token":"6.2\/III\/18\/6.2-1803","metadata":false},"next_section":{"id":373946,"structure_id":53192,"section_number":"6.2-1805","catch_line":"Investigation of applications","url":"\/6.2-1805\/","token":"6.2\/III\/18\/6.2-1805","metadata":false},"metadata":{"court_decisions":""},"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1804\/","history_text":"<p>This law was first created in 2002. The record of its establishment is cataloged in chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?021+ful+CHAP0897\">897<\/a> 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. It has been modified 2 times. 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. Those modifications are as follows: in 2010, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?101+ful+CHAP0794\">794<\/a>; in 2020, chapters <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?201+ful+CHAP1215\">1215<\/a> and <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?201+ful+CHAP1258\">1258<\/a>.<\/p>","references":[{"id":373947,"section_number":"6.2-1806","catch_line":"Qualifications","order_by":null,"url":"\/6.2-1806\/"}],"refers_to":false,"permalink":{"id":1493255,"object_type":"law","relational_id":373945,"identifier":"6.2-1804","token":"6.2\/III\/18\/6.2-1804","url":"\/6.2-1804\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/6.2-1804\/","token":"6.2\/III\/18\/6.2-1804","dublin_core":{"Title":"Bond required","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1804","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>The application for a license shall be accompanied by a <span class=\"dictionary\">bond<\/span> filed with the <span class=\"dictionary\">Commissioner<\/span> with corporate <span class=\"dictionary\">surety<\/span> authorized to execute such <span class=\"dictionary\">bond<\/span> in the Commonwealth, in the sum of $10,000 per office, or such greater sum as the <span class=\"dictionary\">Commission<\/span> may require, but not to exceed a total of $500,000. The form of such <span class=\"dictionary\">bond<\/span> shall be approved by the <span class=\"dictionary\">Commission<\/span>. The <span class=\"dictionary\">bond<\/span> shall be continuously maintained thereafter in full force. The <span class=\"dictionary\">bond<\/span> shall be conditioned upon the applicant or <span class=\"dictionary\">licensee<\/span> performing all written agreements with borrowers or prospective borrowers, correctly and accurately accounting for all funds received by him in his licensed business, and conducting his licensed business in conformity with this chapter and all other applicable <span class=\"dictionary\">law<\/span>. Any <span class=\"dictionary\">person<\/span> who may be damaged by noncompliance of the <span class=\"dictionary\">licensee<\/span> with any condition of such <span class=\"dictionary\">bond<\/span> may proceed on such <span class=\"dictionary\">bond<\/span> against the <span class=\"dictionary\">principal<\/span> or <span class=\"dictionary\">surety<\/span> thereon, or both, to recover <span class=\"dictionary\">damages<\/span>. The aggregate liability under the <span class=\"dictionary\">bond<\/span> shall not exceed the penal sum of the <span class=\"dictionary\">bond<\/span>.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nBOND REQUIRED (\u00a7 6.2-1804)\n\nThe application for a license shall be accompanied by a bond filed with the\nCommissioner with corporate surety authorized to execute such bond in the\nCommonwealth, in the sum of $10,000 per office, or such greater sum as the\nCommission may require, but not to exceed a total of $500,000. The form of such\nbond shall be approved by the Commission. The bond shall be continuously\nmaintained thereafter in full force. The bond shall be conditioned upon the\napplicant or licensee performing all written agreements with borrowers or\nprospective borrowers, correctly and accurately accounting for all funds\nreceived by him in his licensed business, and conducting his licensed business\nin conformity with this chapter and all other applicable law. Any person who may\nbe damaged by noncompliance of the licensee with any condition of such bond may\nproceed on such bond against the principal or surety thereon, or both, to\nrecover damages. The aggregate liability under the bond shall not exceed the\npenal sum of the bond.\n\nHISTORY: 2002, c. 897, \u00a7 6.1-448; 2010, c. 794; 2020, cc. 1215, 1258.","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"}}