Virginia § 6.2-1941 (Effective July 1, 2026) Reports of certain events

Virginia Statutes

§ 6.2-1941 — (Effective July 1, 2026) Reports of certain events

Virginia § 6.2-1941

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. § 6.2-1941 (2026).

Text

A.A licensee shall file a report with the Commission within one business day after the licensee has reason to know of the occurrence of any of the following events:

1.The filing of a petition by or against the licensee under the United States Bankruptcy Code (11 U.S.C. § 101 et seq.) for bankruptcy or reorganization;

2.The filing of a petition by or against the licensee for receivership, the commencement of any other judicial or administrative proceeding for its dissolution or reorganization, or the making of a general assignment for the benefit of its creditors;

3.The commencement of a proceeding to revoke or suspend its license or other authority to operate in another jurisdiction; or

4.Such other events as the Commission may prescribe by regulation.

B.A licensee shall file a

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A. A licensee shall file a report with the Commission within one business day after the licensee has reason to know of the occurrence of any of the following events:

1. The filing of a petition by or against the licensee under the United States Bankruptcy Code (11 U.S.C. § 101 et seq.) for bankruptcy or reorganization;

2. The filing of a petition by or against the licensee for receivership, the commencement of any other judicial or administrative proceeding for its dissolution or reorganization, or the making of a general assignment for the benefit of its creditors;

3. The commencement of a proceeding to revoke or suspend its license or other authority to operate in another jurisdiction; or

4. Such other events as the Commission may prescribe by regulation.

B. A licensee shall file a report with the Commission within three business days after the licensee has reason to know of the occurrence of any of the following events:

1. An indictment, charge, or conviction of the licensee or of a key individual or person in control of the licensee for a felony;

2. An indictment, charge, or conviction of an authorized delegate for a felony; or

3. Such other events as the Commission may prescribe by regulation.