6.2-1624 - (Effective October 1, 2010) Civil penalties. - Virginia Statutes

§ 6.2-1624. (Effective October 1, 2010) Civil penalties.

In addition to the authority conferred under §§ 6.2-1619 and 6.2-1622, theCommission may impose a civil penalty not exceeding $2,500 upon any mortgagelender or mortgage broker required to be licensed under this chapter who itdetermines, in proceedings commenced in accordance with the Commission'sRules, has violated any of the provisions of this chapter or any other law orregulation applicable to the conduct of the mortgage lender's or mortgagebroker's business. For the purposes of this section, each separate violationshall be subject to the civil penalty herein prescribed, and each day afterthe date of notification, excluding Sundays and holidays, as prescribed in §2.2-3300, that an unlicensed person engages in the business or holds himselfout to the general public as a mortgage lender or mortgage broker shallconstitute a separate violation.

(1987, c. 596, § 6.1-428; 1990, c. 4; 2001, c. 511; 2008, c. 863; 2010, c.794.)