6.1-477 - (Repealed effective October 1, 2010) Right of rescission. - Virginia Statutes

§ 6.1-477. (Repealed effective October 1, 2010) Right of rescission.

A borrower who obtains a refund anticipation loan may rescind the loan, on orbefore the close of business on the next day of business, by either returningthe original check issued for the loan or providing the amount of the loan incash to the lender or the facilitator. The facilitator may not charge theborrower a fee for rescinding the loan or a refund anticipation loan fee ifthe loan is rescinded but may charge the customer a fee for establishing andadministering a bank account to electronically receive and distribute therefund.

(2006, c. 399.)