Virginia § 6.2-1916 - (Repealed effective July 1, 2026) Retention of books, accounts, and records
Full text of Virginia Code of Virginia § 6.2-1916 — (Repealed effective July 1, 2026) Retention of books, accounts, and records, with citation guidance and answers to common questions.
§ 6.2-1916. (Repealed effective July 1, 2026) Retention of books, accounts, and records
A. Every licensee shall maintain in its principal place of business such books, accounts, and records as the Commission may reasonably require in order to determine whether such licensee is complying with the provisions of this chapter and other laws applicable to the conduct of its licensed business. Such books, accounts, and records shall be maintained apart and separate from any other business in which the licensee is involved.
B. Each licensee shall retain the following records for at least three years:
1. A record of each money transmission transaction and money order sold;
2. A general ledger posted at least monthly containing all asset, liability, capital, income, and expense accounts;
3. Bank statements and bank reconciliation records;
4. Records of outstanding money orders and money transmission transactions;
5. Records of each money order and money transmission transaction paid or completed within the three-year period; and
6. A list of the names, addresses, and telephone numbers of all of the licensee's authorized delegates.
C. Each licensee shall maintain policies and procedures sufficient for it to comply with this chapter and all other laws and regulations applicable to the conduct of its licensed business. A licensee shall furnish copies of its policies and procedures, as amended, to all of its authorized delegates.
2009, c. 346, § 6.1-378.5; 2010, c. 794; 2014, c. 454; 2025, c. 214.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 6.2-1916
What does Code of Virginia § 6.2-1916 cover?
Section 6.2-1916 ("(Repealed effective July 1, 2026) Retention of books, accounts, and records") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 6.2-1916?
A common citation format is "Code of Virginia § 6.2-1916" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 6.2-1916 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.