6.2-1542 - (Effective October 1, 2010) Duty to refund unauthorized or excess charges; liability to borrower for penalty. - Virginia Statutes

§ 6.2-1542. (Effective October 1, 2010) Duty to refund unauthorized or excesscharges; liability to borrower for penalty.

A. If any amount not authorized by this chapter or in excess of the chargespermitted by this chapter is charged and received by a licensee, suchunauthorized or excess charge actually received by a licensee shall berefunded to the borrower or credited to the borrower's account.

B. Except for excess charges charged and received as the result of a bonafide error of computation that was not made pursuant to a regular course ofdealing, the licensee shall be liable to the borrower for a penalty of twicethe amount of any unauthorized or excess charge actually received by thelicensee and for any court costs and reasonable attorney fees incurred by theborrower.

(Code 1950, § 6-338; 1956, c. 71; 1966, c. 584, § 6.1-309; 1976, c. 658;1986, c. 502; 2010, c. 794.)