Virginia § 6.2-1620 Censuring, suspending, or barring persons

Virginia Statutes

§ 6.2-1620 — Censuring, suspending, or barring persons

Virginia § 6.2-1620

Title 6.2FINANCIAL INSTITUTIONS AND SERVICES

Subtitle IIIOTHER REGULATED PROVIDERS OF FINANCIAL SERVICES

Ch. 16MORTGAGE LENDERS AND MORTGAGE BROKERS

This text of Virginia § 6.2-1620 (Censuring, suspending, or barring persons) 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. § 6.2-1620 (2026).

Text

A. The Commission, after providing notice and an opportunity for a hearing, may (i) censure a person, (ii) suspend a person for a defined period from any position of employment, management, or control of any licensee, or (iii) bar a person from any position of employment, management, or control of any licensee, if the Commission finds that: 1. The censure, suspension or bar is in the public interest and that the person, after July 1, 2003, has committed or caused a violation of this chapter or any regulation or order of the Commission; or 2. The person, after July 1, 2003, was (i) convicted of, or pled guilty or nolo contendere to, any crime;

(ii)held liable in any civil action by final judgment; or (iii) held liable in any administrative proceeding by any public agency, if the criminal

Free access — add to your briefcase to read the full text and ask questions with AI

A. The Commission, after providing notice and an opportunity for a hearing, may (i) censure a person, (ii) suspend a person for a defined period from any position of employment, management, or control of any licensee, or (iii) bar a person from any position of employment, management, or control of any licensee, if the Commission finds that:

1. The censure, suspension or bar is in the public interest and that the person, after July 1, 2003, has committed or caused a violation of this chapter or any regulation or order of the Commission; or

2. The person, after July 1, 2003, was (i) convicted of, or pled guilty or nolo contendere to, any crime; (ii) held liable in any civil action by final judgment; or (iii) held liable in any administrative proceeding by any public agency, if the criminal conviction or plea, or the holding in the civil action or administrative proceeding, involved any offense reasonably related to the qualifications, functions, or duties of a person employed by, or in a position of management or control of, a licensee.

B. Persons suspended or barred under this section are prohibited from participating in any business activity of a licensee and from engaging in any business activity on the premises where a licensee is conducting its business. This subsection shall not be construed to prohibit suspended or barred persons from having their personal transactions processed by a licensee.