6.2-1605 - (Effective October 1, 2010) Investigation of applications. - Virginia Statutes

§ 6.2-1605. (Effective October 1, 2010) Investigation of applications.

A. The Commissioner may make such investigations as he deems necessary todetermine if the applicant has complied with all applicable provisions of lawand regulations.

B. For the purpose of investigating individuals who are members, seniorofficers, directors, and principals of an applicant, such persons shallconsent to a national and state criminal history records check and submit tofingerprinting by a local or state law-enforcement agency. Each member,senior officer, director, and principal shall pay for the cost of suchfingerprinting and criminal records check. Upon receipt of the records checkfees along with such individuals' fingerprints and their personal descriptiveinformation, the Commissioner shall forward these items to the CentralCriminal Records Exchange. The Central Criminal Records Exchange shallconduct a search of its own criminal history records and forward suchindividuals' fingerprints and personal descriptive information to the FederalBureau of Investigation for the purpose of obtaining national criminalhistory record information regarding such individuals. The Central CriminalRecords Exchange shall forward the results of the state and national recordssearch to the Commissioner, who shall be an employee of the Commission.

C. If any member, senior officer, director, or principal of an applicantfails to submit his fingerprints, personal descriptive information, orrecords check fees to the Commissioner or his designee in accordance withsubsection B, the application for licensure as a mortgage lender or mortgagebroker shall be denied.

(1987, c. 596, § 6.1-414; 2008, c. 863; 2010, c. 794.)