Virginia § 6.2-1924 (Effective July 1, 2026) Implementation

Virginia Statutes

§ 6.2-1924 — (Effective July 1, 2026) Implementation

Virginia § 6.2-1924

Title 6.2Financial Institutions and Services

Subtitle IIIOther Regulated Providers of Financial Services

Ch. 19.1Money Transmitters

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Bluebook

Va. Code Ann. § 6.2-1924 (2026).

Text

A.In order to carry out the purposes of this chapter, the Commission may:

1.Enter into agreements or relationships with other government officials or federal and state regulatory agencies and regulatory associations in order to improve efficiencies and reduce regulatory burden by standardizing methods or procedures, and sharing resources, records, or related information obtained under this chapter;

2.Use, hire, contract, or employ analytical systems, methods, or software to examine or investigate any person subject to this chapter;

3.Accept, from other state or federal government agencies or officials, licensing, examination, or investigation reports made by such other state or federal government agencies or officials; and

4.Accept audit reports made by an independent certified pu

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A. In order to carry out the purposes of this chapter, the Commission may:

1. Enter into agreements or relationships with other government officials or federal and state regulatory agencies and regulatory associations in order to improve efficiencies and reduce regulatory burden by standardizing methods or procedures, and sharing resources, records, or related information obtained under this chapter;

2. Use, hire, contract, or employ analytical systems, methods, or software to examine or investigate any person subject to this chapter;

3. Accept, from other state or federal government agencies or officials, licensing, examination, or investigation reports made by such other state or federal government agencies or officials; and

4. Accept audit reports made by an independent certified public accountant or other qualified third-party auditor for an applicant or licensee and incorporate the audit report in any report of examination or investigation.

B. In addition to the authority provided elsewhere in this chapter, the Commission shall have the broad administrative authority to administer, interpret, and enforce this chapter and to recover the cost of administering and enforcing this chapter by imposing and collecting proportionate and equitable fees and costs associated with applications, examinations, investigations, and other actions required to achieve the purpose of this chapter.