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

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

Age. When your Commission compels a guy not a licensee otherwise an enthusiastic candidate to own a license around this section provide spoken testimony, the individual very obligated to testify should never be susceptible to violent prosecution or even the imposition of every punishment or forfeiture inside the experience of the subject count concerning hence such as for instance testimony try obligated.

F. The immunities provided pursuant so you can subsections D and you can Age will perhaps not influence (i) people civil right away from action, maybe not associated with penalty or forfeiture, of any people and (ii) the newest power of your own Lawyer Standard so you can institute and prosecute an excellent continuing to possess injunctive relief as delivered to in § six.2-1537.

The newest Fee will, normally since it deems to settle the general public appeal, have a look at the circumstances, team, work environment, and you can information of each and every licensee one pertain to any business subscribed significantly less than this section. Instance examination can be held at least once in almost any about three-12 months months. The licensee shall furnish punctually of the post otherwise such as for instance circumstances and you can statements in connection with the organization transacted on the Commonwealth that the Payment can get request periodically.

To help you defray the expenses off test, supervision and you may control regarding licensed user financial institutions, all of the licensee will shell out a yearly payment becoming determined during the accordance which have a schedule set by Percentage. The new plan shall happen a good relationship to the full possessions, including financing significantly less than so it section and other finance, of numerous licensees in addition to their associates working when you look at the licensed user finance company workplaces, on the genuine price of the respective inspections, also to other factors relating to their supervision and you may control. Costs should be reviewed pursuant to that area into or in advance of Will get 1 of any calendar year. Every such as for example costs will likely be reduced of the licensees on State Treasurer with the or prior to Summer step one adopting the for each and every analysis.

Most of the licensee should manage the brand new books, account, and you will records for around three-years once deciding to make the latest entryway towards the one loan submitted therein

A good. For each and every licensee shall look after in its licensed individual finance company office, otherwise on eg almost every other put within this or outside the Commonwealth since brand new Fee may accept, particularly books, account, and you can info because Percentage may fairly need to choose whether or not new licensee is complying toward specifications of the chapter and with legislation then followed in the furtherance thereof. Such guides, account, and you can facts shall be managed in report function otherwise, into Commission’s recognition, in virtually any electronic structure available for examination based on desktop published reproduction, video screen, or any other typical. People courses, account, and you can information not handled in the papers mode is going to be convertible into the demonstrably legible paper documents within quite a long time.

B. If any mention otherwise defense drawn not as much as it part will be bound since security otherwise placed in this otherwise outside the Commonwealth, this new licensee will alert punctually the brand new Payment in writing of the term and location of the individual holding such as paper. One bound or transferred paper are going to be susceptible to test of the the fresh new Fee in accordance with subsection C because completely because if handled inside a prescription venue.

Past acceptance of your Percentage shall never be necessary

C. Every books, levels, and you can information is going to be at the mercy of test because of the Payment. When the instance instructions, profile, and you will suggestions try checked out beyond your Commonwealth, most of the reasonable expenses associated with eg discover this test is repaid of the the latest licensee.

Each licensee shall annually, on the otherwise just before April step one, document a report into Fee giving such related suggestions since the can get reasonably be required in regards to the its business and operations for the before calendar year about for every authorized individual monetary institution work environment. Records are going to be produced less than oath and you may is going to be on the mode given because of the Fee.

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