West Virginia § 46A-4-101 Authority to make loans

West Virginia Statutes

§ 46A-4-101 — Authority to make loans

West Virginia § 46A-4-101

Ch. 46AWEST VIRGINIA CONSUMER CREDIT AND PROTECTION ACT

Art. 4REGULATED CONSUMER LENDERS

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Bluebook

W. Va. Code § 46A-4-101 (2026).

Text

Unless a person has first obtained a license from the commissioner authorizing the person to make regulated consumer loans, he or she may not engage in the business of:

(1)Making regulated consumer loans; or

(2)Taking assignments of or undertaking direct collection of payments from or enforcement of rights against consumers arising from regulated consumer loans: Provided, That the licensing provisions of this act do not pertain to any "collection agency" as defined in, and licensed by, the "Collection Agency Act of 1973" at W. Va. Code §§47-16-1 et seq.

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Unless a person has first obtained a license from the commissioner authorizing the person to make regulated consumer loans, he or she may not engage in the business of:

(1) Making regulated consumer loans; or

(2) Taking assignments of or undertaking direct collection of payments from or enforcement of rights against consumers arising from regulated consumer loans: Provided, That the licensing provisions of this act do not pertain to any "collection agency" as defined in, and licensed by, the "Collection Agency Act of 1973" at W. Va. Code §§47-16-1 et seq.