{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/6.2-2229.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/6.2-2229.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/6.2-2229.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/6.2-2229.html"}],"law_id":374142,"edition_id":2,"section_id":374142,"structure_id":53202,"section_number":"6.2-2229","catch_line":"Exemptions","history":"2022, c. 516.","full_text":"The provisions of this chapter shall not apply to and shall not place any additional requirements or obligations upon any of the following:\n\n1\n\nA financial institution;\n\n2\n\nAny person, provider, or broker that enters into no more than five sales-based financing transactions with a recipient in a 12-month period; or\n\n3\n\nA single sales-based financing transaction in an amount over $500,000.\n\n","order_by":null,"text":{"0":{"id":1396709,"text":"The provisions of this chapter shall not apply to and shall not place any additional requirements or obligations upon any of the following:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":1396710,"text":"A financial institution;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":1396711,"text":"Any person, provider, or broker that enters into no more than five sales-based financing transactions with a recipient in a 12-month period; or","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":1396712,"text":"A single sales-based financing transaction in an amount over $500,000.","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2"}},"ancestry":[{"id":53202,"edition_id":2,"name":"Sales-Based Financing Providers","identifier":"22.1","label":"chapter","depth":3,"order_by":10,"parent_id":53187,"metadata":{"child_laws":11,"child_structures":0},"date_created":"2026-08-02 03:12:57","date_modified":"2026-08-02 12:28:09","permalink":{"id":1494031,"object_type":"structure","relational_id":53202,"identifier":"22.1","token":"6.2\/III\/22.1","url":"\/6.2\/III\/22.1\/","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":374141,"structure_id":53202,"section_number":"6.2-2228","catch_line":"Definitions","url":"\/6.2-2228\/","token":"6.2\/III\/22.1\/6.2-2228","metadata":false},{"id":374142,"structure_id":53202,"section_number":"6.2-2229","catch_line":"Exemptions","url":"\/6.2-2229\/","token":"6.2\/III\/22.1\/6.2-2229","metadata":false},{"id":374143,"structure_id":53202,"section_number":"6.2-2230","catch_line":"Registration; authority to transact business","url":"\/6.2-2230\/","token":"6.2\/III\/22.1\/6.2-2230","metadata":false},{"id":374144,"structure_id":53202,"section_number":"6.2-2231","catch_line":"Disclosure requirements","url":"\/6.2-2231\/","token":"6.2\/III\/22.1\/6.2-2231","metadata":false},{"id":374145,"structure_id":53202,"section_number":"6.2-2232","catch_line":"Recipient place of business; required signature","url":"\/6.2-2232\/","token":"6.2\/III\/22.1\/6.2-2232","metadata":false},{"id":374146,"structure_id":53202,"section_number":"6.2-2233","catch_line":"Additional information","url":"\/6.2-2233\/","token":"6.2\/III\/22.1\/6.2-2233","metadata":false},{"id":374147,"structure_id":53202,"section_number":"6.2-2234","catch_line":"Place for bringing action under a contract or agreement to provide sales-based financing; certain fees paid by provider; confessions of judgment prohibited","url":"\/6.2-2234\/","token":"6.2\/III\/22.1\/6.2-2234","metadata":false},{"id":374148,"structure_id":53202,"section_number":"6.2-2235","catch_line":"Applicability of chapter to internet transactions","url":"\/6.2-2235\/","token":"6.2\/III\/22.1\/6.2-2235","metadata":false},{"id":374149,"structure_id":53202,"section_number":"6.2-2236","catch_line":"Validity of noncompliant sales-based financing","url":"\/6.2-2236\/","token":"6.2\/III\/22.1\/6.2-2236","metadata":false},{"id":374150,"structure_id":53202,"section_number":"6.2-2237","catch_line":"Regulations","url":"\/6.2-2237\/","token":"6.2\/III\/22.1\/6.2-2237","metadata":false},{"id":374151,"structure_id":53202,"section_number":"6.2-2238","catch_line":"Authority of Attorney General","url":"\/6.2-2238\/","token":"6.2\/III\/22.1\/6.2-2238","metadata":false}],"previous_section":{"id":374141,"structure_id":53202,"section_number":"6.2-2228","catch_line":"Definitions","url":"\/6.2-2228\/","token":"6.2\/III\/22.1\/6.2-2228","metadata":false},"next_section":{"id":374143,"structure_id":53202,"section_number":"6.2-2230","catch_line":"Registration; authority to transact business","url":"\/6.2-2230\/","token":"6.2\/III\/22.1\/6.2-2230","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-2229\/","history_text":"

This law was first created in 2022. The record of its establishment is cataloged in chapter 516<\/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.<\/p>","references":false,"refers_to":false,"permalink":{"id":1494037,"object_type":"law","relational_id":374142,"identifier":"6.2-2229","token":"6.2\/III\/22.1\/6.2-2229","url":"\/6.2-2229\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/6.2-2229\/","token":"6.2\/III\/22.1\/6.2-2229","dublin_core":{"Title":"Exemptions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-2229","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The provisions of this chapter shall not apply to and shall not place any additional requirements or obligations upon any of the following:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> A financial institution<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Any person<\/span>, provider<\/span>, or broker<\/span> that enters into no more than five sales-based financing<\/span> transactions with a recipient<\/span> in a 12-month period; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> A single sales-based financing<\/span> transaction in an amount over $500,000. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nEXEMPTIONS (\u00a7 6.2-2229)\n\nThe provisions of this chapter shall not apply to and shall not place any\nadditional requirements or obligations upon any of the following:\n\n1. A financial institution;\n\n2. Any person, provider, or broker that enters into no more than five\nsales-based financing transactions with a recipient in a 12-month period; or\n\n3. A single sales-based financing transaction in an amount over $500,000.\n\nHISTORY: 2022, c. 516.","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"}}