6.1-330.62 - (Repealed effective October 1, 2010) Loans of up to one year. - Virginia Statutes

§ 6.1-330.62. (Repealed effective October 1, 2010) Loans of up to one year.

Any bank, savings institution, or any broker duly licensed to transactbusiness as a stockbroker or as a broker dealing in options and futures underthe provisions of Title 58.1, may loan money or discount bonds, bills, notesor other paper payable on demand or for periods up to one year, and such loanor discounting may be lawfully enforced as agreed in the contract ofindebtedness. An interest rate charged in advance upon the entire amount ofthe loan or discount shall be lawful.

(1987, c. 622.)