6.2-1807 - (Effective October 1, 2010) Licenses; places of offices; changes. - Virginia Statutes

§ 6.2-1807. (Effective October 1, 2010) Licenses; places of offices; changes.

A. Each license shall:

1. State the address of each approved office at which the business is to beconducted;

2. State fully the name of the licensee; and

3. Be prominently posted in each office of the licensee.

B. No licensee shall:

1. Use any name other than the name set forth on the license issued by theCommission; or

2. Open an additional office or relocate any office without prior approval ofthe Commission.

C. Applications for Commission approval to open an additional office orrelocate any office shall be made in writing on a form provided by theCommissioner and shall be accompanied by payment of a $150 nonrefundableapplication fee. The application shall be approved unless the Commissionfinds that the applicant does not have the required liquid assets or has notconducted business under this chapter efficiently, fairly, in the publicinterest, and in accordance with law. The application shall be deemedapproved if notice to the contrary has not been mailed by the Commission tothe applicant within 30 days of the date the application is received by theCommission. After approval, the applicant shall give written notice to theCommissioner within 10 days of the commencement of business at the additionaloffice or relocated office.

D. Every licensee shall within 10 days notify the Commissioner, in writing,of the closing of any office and of the name, address, and position of eachnew senior officer, member, partner, or director and provide such otherinformation with respect to any such change as the Commissioner mayreasonably require.

E. Licenses shall:

1. Not be transferable or assignable, by operation of law or otherwise; and

2. Remain in force until they have been surrendered, revoked, or suspended.The surrender, revocation, or suspension of a license shall not affect anypreexisting legal right or obligation of the licensee.

(2002, c. 897, § 6.1-451; 2010, c. 794.)