6.2-314 - (Effective October 1, 2010) Motor vehicle purchase loans by subsidiaries and affiliates of banks and savings institutions. - Virginia Statutes

§ 6.2-314. (Effective October 1, 2010) Motor vehicle purchase loans bysubsidiaries and affiliates of banks and savings institutions.

Notwithstanding any statutory or case law, a subsidiary or affiliate of abank or savings institution that is not a licensee under the provisions ofChapter 15 (§ 6.2-1500 et seq.) may impose finance charges and other chargesand fees at such rates and in such amounts and manner as the borrower hasagreed on loans payable in installments for the purpose of financing thepurchase of a motor vehicle.

(1987, c. 622, § 6.1-330.60; 1996, c. 242; 1997, c. 128; 1999, c. 610; 2001,c. 743; 2010, c. 794.)