Virginia Statutes
§ 6.2-1604 — Bond required
Virginia § 6.2-1604
JurisdictionVirginia
Title 6.2FINANCIAL INSTITUTIONS AND SERVICES
Subtitle IIIOTHER REGULATED PROVIDERS OF FINANCIAL SERVICES
Ch. 16MORTGAGE LENDERS AND MORTGAGE BROKERS
This text of Virginia § 6.2-1604 (Bond required) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Va. Code Ann. § 6.2-1604 (2026).
Text
The application for a license shall also be accompanied by a bond filed with the Commissioner with corporate surety authorized to execute such bond in the Commonwealth, in the sum of $25,000, or such greater sum as the Commissioner may require. The form of the 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 applicable law. Any person who may be damaged by noncompliance of a licensee with any condition of such bond may proceed on
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Legislative History
1987, c. 596, § 6.1-413; 1989, c. 411; 2001, c. 511; 2010, c. 794.
Nearby Sections
15
§ 6.2-100
Definitions§ 6.2-1000
Definitions§ 6.2-1002
Powers of trust institutions§ 6.2-1005
Deposit or other use of trust funds§ 6.2-1007
Investment of trust funds§ 6.2-1008
Dealings with self or affiliates§ 6.2-101
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Bluebook (online)
Virginia § 6.2-1604, Counsel Stack Legal Research, https://law.counselstack.com/statute/va/6.2/6.2-1604.