Virginia § 6.2-2230 - Registration; authority to transact business
Full text of Virginia Code of Virginia § 6.2-2230 — Registration; authority to transact business, with citation guidance and answers to common questions.
§ 6.2-2230. Registration; authority to transact business
On or before November 1, 2022, every sales-based financing provider and sales-based financing broker (i) shall register with the Commission in accordance with procedures established by the Commission and (ii) unless such provider or broker is organized under the laws of Virginia or otherwise is not required to obtain authority to transact business in the Commonwealth as a foreign entity, shall obtain authority to transact business in the Commonwealth in accordance with the provisions of Title 13.1.
An application for registration shall include disclosure of any judgment, memorandum of understanding, cease and desist order, or conviction, any of which involve a crime or an act of fraud, breach of trust, or money laundering with respect to that person or any officer, director, manager, operator, or individual who otherwise controls the operations of such provider or broker.
Each sales-based financing provider and sales-based financing broker shall pay an initial registration fee of $1,000 and an annual registration fee of $500 by September 15 every year thereafter. If the provider or broker fails to pay the annual registration fee by September 15, its registrations shall automatically expire by operation of law.
2022, c. 516.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 6.2-2230
What does Code of Virginia § 6.2-2230 cover?
Section 6.2-2230 ("Registration; authority to transact business") 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 § 6.2-2230?
A common citation format is "Code of Virginia § 6.2-2230" (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 § 6.2-2230 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.