54.1-1126 - Revocation of license upon payment from Fund. - Virginia Statutes

§ 54.1-1126. Revocation of license upon payment from Fund.

Upon payment by the Director to a claimant from the Fund as provided in §54.1-1125, the Board shall immediately revoke the license of the regulantwhose improper or dishonest conduct resulted in this payment. Any regulantwhose license is revoked shall not be eligible to apply for a license as acontractor until the regulant has repaid in full the amount paid from theFund on his account, plus interest at the judgment rate of interest from thedate of payment.

(1980, c. 635, § 54-145.3:8; 1984, c. 270; 1987, c. 555; 1988, c. 765; 1990,c. 911; 1995, c. 771; 1997, c. 885.)