Virginia § 6.2-2027 - License requirement; exceptions
Full text of Virginia Code of Virginia § 6.2-2027 — License requirement; exceptions, with citation guidance and answers to common questions.
§ 6.2-2027. License requirement; exceptions
A. No person shall engage in the business of providing or offering to provide debt settlement services to any consumer, whether or not the person has an office, facility, agent, or other physical presence in the Commonwealth, unless such person obtains from the Commission a license issued pursuant to this chapter. The provisions of this chapter shall not apply to any bank, savings institution, or credit union or any person licensed to practice law in the Commonwealth.
B. This chapter shall be construed by the Commission to promote sound personal financial advice and management.
C. A person licensed under Chapter 20 (§ 6.2-2000 et seq.) is not required to be licensed under this chapter if it offers to provide or provides debt settlement services solely in connection with offering to provide or providing debt management plans.
D. A person licensed under this chapter shall not receive money from consumers for transmission to consumers' creditors or engage in the business of providing or offering to provide debt management plans to consumers unless such person is also licensed under Chapter 20 (§ 6.2-2000 et seq.).
2020, c. 785.
Frequently Asked Questions About Virginia § 6.2-2027
What does Code of Virginia § 6.2-2027 cover?
Section 6.2-2027 ("License requirement; exceptions") 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 § 6.2-2027?
A common citation format is "Code of Virginia § 6.2-2027" (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 § 6.2-2027 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.