10 Va. Admin. Code § 5-60-65
Current through Register Vol. 41, No. 10, December 30, 2024
Section 10VAC5-60-65 - Enforcement; civil penaltiesA. Failure to comply with any provision of the Act or this chapter may result in civil penalties, license suspension, license revocation, or other appropriate enforcement action.B. Pursuant to § 6.2-1543 of the Code of Virginia, a licensee shall be subject to a separate civil penalty of up to $10,000 for every violation of the Act, this chapter, or a commission order that occurred knowingly or without the exercise of due care to prevent the violation. If a licensee violates a provision of the Act, this chapter, or a commission order in connection with multiple loans or borrowers, the licensee shall be subject to a separate civil penalty per violation for each loan or borrower.10 Va. Admin. Code § 5-60-65
Derived From Virginia Register Volume 37, Issue 16, eff. 3/15/2021.Statutory Authority: §§ 6.2-1535 and 12.1-13 of the Code of Virginia.