Password 1950, §§ 6-323, 6-324, 6-325, 6-326; 1956, c

Password 1950, §§ 6-323, 6-324, 6-325, 6-326; 1956, c

Elizabeth. In the event the Commission compels one maybe not an effective licensee otherwise an candidate having a permit less than which section giving verbal testimony, anyone very compelled to attest should never be subject to violent prosecution or perhaps the imposition of every penalty otherwise forfeiture during the contact with the topic matter as to and this such testimony was required.

F. This new immunities considering pursuant so you’re able to subsections D and you can Age should maybe not determine (i) one municipal right regarding step, maybe not associated with punishment otherwise forfeiture, of any people and you may (ii) the newest authority of Attorney Standard to help you institute and you may prosecute an excellent continuing getting injunctive rescue since the taken to from inside the § 6.2-1537.

This new Payment will, as often because it deems to settle the public focus, consider the fresh items, business, office, and you can suggestions of every licensee you to relate to any company registered not as much as this section. Including test should be presented at least once in almost any around three-season period. The fresh licensee should present on time from the post if not like issues and you will comments concerning their business transacted from the Commonwealth that the Payment may request sporadically.

The licensee should uphold new books, account, and info for at least three years immediately after putting some latest entry towards the people financing recorded therein

To help you defray the expenses out-of examination, supervision and you can control off registered individual boat loan companies, all licensee shall spend an annual payment is determined within the conformity having a plan put because of the Payment. The brand new agenda shall bear a fair relationship to the complete property, as well as fund under this section or other financing, of several licensees in addition to their affiliates doing business in licensed individual finance company practices, on genuine price of their particular inspections, and to other factors per the supervision and controls. Costs would be reviewed pursuant to this section for the or prior to May step 1 of any season. All the such costs might be paid by the licensees on the Condition Treasurer toward or just before Summer step 1 following each research.

A good. For every licensee will take care of in subscribed user monetary institution place of work, otherwise within such as for instance other put contained in this otherwise outside the Commonwealth given that the Payment may accept, such courses, profile, and you will info once the Fee get reasonably require to decide whether or not brand new licensee are conforming for the provisions of part and you can having statutes implemented during the furtherance thereof. Such as books, profile, and records might be handled when you look at the paper mode or, into Commission’s recognition, in almost any digital structure designed for examination on such basis as desktop printed breeding, video clips screen, or other medium. Any books, account, and you may info not handled within the paper means are going to be modifiable towards the certainly legible paper data files contained in this a reasonable time.

B. Or no notice otherwise protection taken below this chapter shall be bound since equity or transferred inside otherwise outside the Commonwealth, new licensee should notify timely the brand new Percentage in writing of the title and precise location of the person holding including papers. Prior approval of one’s Percentage should not called for. One pledged or deposited paper is at the mercy of test by the the brand new Payment in line with subsection C since fully because if was able for the an approved venue.

C. The instructions, profile, and records are going to be susceptible to examination from the Payment

In the event the such courses, levels, and you can ideas try tested outside the Commonwealth, all of the practical expenses associated with instance examination would be repaid of the the licensee.

For every single licensee shall per year, toward otherwise in advance of April 1, file a report towards Fee providing eg relevant guidance because may reasonably be required about the their organization and operations inside the preceding twelve months payday loans Oxford MI on each licensed individual finance company office. Reports are going to be made under oath and you can shall be in the mode given of the Commission.

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