Virginia § 6.2-315 - Loans by certain financial institutions or brokers payable on demand or having a term up to one year
Full text of Virginia Code of Virginia § 6.2-315 — Loans by certain financial institutions or brokers payable on demand or having a term up to one year, with citation guidance and answers to common questions.
§ 6.2-315. Loans by certain financial institutions or brokers payable on demand or having a term up to one year
Any bank, savings institution, broker duly licensed to transact business as a stockbroker, or broker-dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission, may loan money or discount bonds, bills, notes or other paper, whether payable on demand or for periods up to one year. Such a loan or discounting may be lawfully enforced as agreed in the contract of indebtedness. An interest rate charged in advance upon the entire amount of the loan or discount shall be lawful.
1987, c. 622, § 6.1-330.62; 2010, c. 794.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 6.2-315
What does Code of Virginia § 6.2-315 cover?
Section 6.2-315 ("Loans by certain financial institutions or brokers payable on demand or having a term up to one year") 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 § 6.2-315?
A common citation format is "Code of Virginia § 6.2-315" (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 § 6.2-315 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.